NEGOTIATION STRATEGIES FOR BETTER PURCHASING VALUE

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Why Attend

One of the most important and required skills for a purchasing professional is negotiation. In this course, we will explore the various modern negotiation methods from a purchasing perspective. We will cover in detail the various negotiation strategies required to meet the purchasing needs of the organization. The strong and weak points of the buyer along with the strong and weak points of the supplier will be explored. We will also discover the appropriate negotiation styles for various situations, including complex situations that will require careful attention.

Event Date: 15/02/2024 – 17/02/2024

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Overview
Course Outline

Preparation strategies
- Developing buyer needs and requirements
- Understanding the buyer position
- Understanding the supplier position
- The number of suppliers in the market
- Economic analysis of the market
- Forming a pre-negotiation checklist
- Forming the negotiation strategy
- Forming the purchasing negotiation team
- Proper planning and preparation
Implementing the negotiation strategy
- Making the purchasing plan operational
- The best time to negotiate
- Time is power in purchasing and negotiation
- Information is power in purchasing and negotiation
- The other types of power in negotiation
- The best place to negotiate
- Understanding supplier expectations
- The 80/20 rule of negotiation
Developing a negotiating style
- Attributes of a good negotiator
- Developing those attributes by the buyer
- Expressing your purchasing needs effectively
- Knowing your products and commodities
- Knowing the supplier products and services
- Active listening techniques
- Types of questioning styles
- Preparing the right list of questions
Dealing with complex negotiations
- Sole source suppliers
- Single source suppliers
- Win/Win meets Win/Lose
- Win/Win meets Lose/Lose
- Backdoor buying tactics
- Controlling emotions during a negotiation
- Friends and relatives as suppliers
- Ethical behavior and negotiation
Preparing and conducting individual and team negotiations
- Practical role plays
- Playing the role of the buyer
- Playing the role of the supplier
- Playing the role of the evaluator
- Supplier strong points
- Buyer strong points
- Being aware of supplier hidden tactics and tricks