Course Objectives
Negotiation Strategies for Better Purchasing Value - Virtual Learning
Course Objectives
By the end of the course, participants will be able to:
Develop effective negotiation strategies to meet the purchasing needs of the organization
Implement those strategies to maximize purchasing value
Discover the appropriate negotiation style for each situation
Explain how to handle and deal with complex negotiation situations
Identify supplier strong points and buyer strong points
Target Audience
Buyers, senior buyers, purchasing supervisors, and all other company personnel who are involved in the negotiation process.
Target Competencies
Strategic negotiation
Planning skills
Executing skills
Dealing with difficult suppliers
Communicating with suppliers
Implementation skills
Course Outline
Preparation strategiesDeveloping buyer needs and requirementsUnderstanding the buyer positionUnderstanding the supplier positionThe number of suppliers in the marketEconomic analysis of the marketForming a pre-negotiation checklistForming the negotiation strategyForming the purchasing negotiation teamProper planning and preparation
Implementing the negotiation strategyMaking the purchasing plan operationalThe best time to negotiateTime is power in purchasing and negotiationInformation is power in purchasing and negotiationThe other types of power in negotiationThe best place to negotiateUnderstanding supplier expectationsThe 80/20 rule of negotiation
Developing a negotiating styleAttributes of a good negotiatorDeveloping those attributes by the buyerExpressing your purchasing needs effectivelyKnowing your products and commoditiesKnowing the supplier products and servicesActive listening techniquesTypes of questioning stylesPreparing the right list of questions
Dealing with complex negotiationsSole source suppliersSingle source suppliersWin/Win meets Win/LoseWin/Win meets Lose/LoseBackdoor buying tacticsControlling emotions during a negotiationFriends and relatives as suppliersEthical behavior and negotiation
Preparing and conducting individual and team negotiationsPractical role playsPlaying the role of the buyerPlaying the role of the supplierPlaying the role of the evaluatorSupplier strong pointsBuyer strong pointsBeing aware of supplier hidden tactics and tricks