In business, you get what you negotiate. The key to a successful negotiation is to know what you want, to anticipate what the other party wants, and to put together an effective plan. Learn a five-step process for planning a successful negotiation and properly preparing for the negotiation session.
- "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. …
- Explain the purchasing process.
- Define purchase order.
- Describe the intent of a purchasing policy.
- Distinguish types of purchasing structures.
- List the steps of selecting a supplier.
- Identify enablers for success in worldwide sourcing.
- Perform price and cost analysis.
- Measure supply management performance.