From the course: Purchasing Foundations
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Negotiation planning
- "In business, you don't get what you deserve, "you get what you negotiate." That's according to Chester Karass, who has been leading negotiation training seminars for more than 40 years. That's how important negotiation skills are to a company's success. But nothing is more important than effective planning for the negotiation. Now, one thing I want you to remember is that not all purchases require a negotiation. If price is your only concern, a competitive bidding process will determine who you contract with. But if you are concerned with more than just the price of the item, for example, if payment terms or delivery schedules are important to you, then you must prepare for a negotiation with the seller. First, you must know what you want. Okay, this sounds pretty simplistic, but you really must outline in advance specifically what you want to accomplish in the negotiation. What are your goals? Next, you must try to anticipate what the supplier wants. Your objective is to put…
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