As a buyer, you need to interact with suppliers for various deals. The success or failure of the deal depends on how effectively you are able to negotiate with your suppliers. To gain maximum advantage from the suppliers, you need to keep in mind certain principles of negotiation.
Negotiation is a process in which you and your supplier with conflicting requirements reach an agreement of mutual interest. It is thus all about creating a movement between each other.
The negotiation competence includes: How to plan and prepare negotiation meetings. How to set objectives for the negotiation meetings. How to conduct the negotiation. How to reach additional savings on top of what has been achieved through the RFP process. How to use cognitive biases, Game Theory and NLP in negotiations.
Following are the eLearning courses for Negotiation –
|What are critical issues?|
Do they relate to internal client needs?
Set stretching targets.
Determine Walk-away position.
Importance of developing other issues to trade.
Which suppliers to shortlist for negotiation?
What is ZOPA?
What is a BATNA?
How to open a Negotiation
|Positive negotiation climate: why do you need it / what is it?|
How to understand supplier offer?
Taking a position.
Importance of summarizing.
How to Bargain
|How to ask the right questions: open/closed/leading/hypothetical questions.|
Reading the Body Language of your supplier.
How to make concessions?
Tactics: low ball/high ball, what-if, bluffing /bogey/ expose supplier tactics.
Closing a Negotiation
|When to stop bargaining and closing the deal: spot closing signals.|
Handle last minute objections.
Finalize the deal and communicate with internal customer.
Win Lose Negotiation
|What is the goal of negotiation: balancing the 5 Rs.|
What are WIN-WIN negotiations?
When to use?
What is your negotiation style: questionnaire to assess your own style?
|Top 6 negotiation tips.|
|View the negotiation from the supplier’s perspective. Design the game such that it is in the supplier’s interest to deliver the result that you want.|
Predict supplier’s behavior.
Make your negotiation approach credible.
Deliver the result.
Using NLP to influence stakeholders – Part 1
|Influence stakeholders (or suppliers) using Neuro Linguistic Programming (a form of emotional intelligence).|
Analyse and improve yourself.
Choose how you respond to situations.
Using NLP to influence stakeholders – Part 2
Read and influence others to improve collaboration.
The four habits to improve confidence, tenacity and productivity.
Biases in Negotiations – Part 1
|Learn how bias costs your organization money.|
Which cognitive biases affect negotiation results?
Correct the systematic errors that we all make.
Biases in Negotiations – Part 2
|Learner is shown an interactive scenarios and must identify bias.|
Once identified, learn how to avoid the bias in your own team and how to use the supplier’s bias in your own advantage.