Endorsed Negotiation Strategies for Better Purchasing Value

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.

Course Registration

Course Methodology This course uses a variety of interactive training methods such as role playing, videos, team exercises, individual exercises, case studies, group discussions and questionnaires. 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 negotiation strategies to maximize purchasing value and perform supplier pre-qualifications
Discover the appropriate negotiation style for each situation
Handle and deal with complex negotiation situations
Manage post-negotiation activities, and build strong, long-term relationships with vendors to ensure ongoing value

Target Audience Buyers, senior buyers, purchasing supervisors, and all other company personnel who are involved in the negotiation process. Target Competencies

Conducting strategic negotiation
Understanding power dynamics in negotiations
Improving negotiation planning skills
Communicating with suppliers
Dealing with difficult suppliers
Performing supplier evaluations

Effective negotiation strategies

Definition of purchasing
Introduction to negotiations
Key negotiation principles
Analyzing buyer’s needs and setting goals
Exploring negotiation strategies
Market analysis

Purchasing value and supplier pre-qualification

Supplier pre-qualification process
Application of negotiation strategies
Maximizing purchasing value
Negotiating contract terms
Monitoring and evaluating negotiation outcomes

Developing a negotiating style

Negotiation styles
Buyer/supplier strength and weaknesses
Bargaining versus negotiation
Adapting your style
Effective communication skills
Active listening and rapport building

Dealing with complex negotiations

Analyzing complex negotiation scenarios
Managing power dynamics
Cultural differences in negotiation
Managing emotions and pressure
Breaking deadlocks and reaching agreements

Negotiation implementation and long-term relationships

Negotiation implementation plans
Post-negotiation activities
Vendor relationships
Negotiation skills for on-going challenges
Monitor long-term partnerships

Endorsed Negotiation Strategies for Better Purchasing Value

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