In the world of negotiation, emotions can often run high.
With this in mind, it is worth asking how your feelings can influence the outcome of a negotiation and what preparation you can take to conduct a successful negotiation.
From a procurement perspective, it is often thought that an aggressive approach is the right (and only) one to adopt in negotiations, but this article by Alison Wood Brooks, assistant professor at Harvard Business School, will show that that may not always be the case!
Increased Profit and Reduced Costsby improving benchmarking, supplier intelligence and management and reducing the overall cost of ownership.
Reduced and Managed Riskby identifying, understanding and defining the risk associated with each purchase and mitigating against it
Improved Supplier Performanceby identifying the appropriate relationship with each supplier and implementing proper governance accordingly
Improved People Skills and Knowledgeby investing in their training and development through top-level support for, and recognition of, strategic procurement and its essential link to the delivery of corporate strategy at the highest level
Improved Customer Satisfactionby shortening lead times through supply chain optimisation and improving the quality and service of the goods and services supplied.
Increased Competitive EdgeResulting from the above and the adoption of strategic sourcing.read more >