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Negotiation Strategies for Better Purchasing Value

MM143

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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.

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

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

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
Controllingemotions 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

This training program will employ a combination of teaching methods to enhance participant engagement and knowledge retention:

Presentations: Instructor will deliver informative presentations covering the course material.
Group Discussions: Participants will engage in discussions to share their insights and experiences.
Case Studies: Real-world examples of electrical incidents will be analyzed.
Assessments: Regular quizzes and a final assessment will evaluate participants' comprehension.

Terms & Conditions

ACTrain reserves the right to alter the Course Schedule without Prior Notification, Fees Quoted are Subject to Terms & Conditions Outlined in ACTrain's Registration Policy