The Art of Negotiating for Procurement

Procurement is a profit center—every dollar of cost savings, or cost avoidance, achieved through effective negotiations is a direct increase in the bottom line

Program Description:

The Art of Negotiating for Procurement is a valuable seminar that provides purchasing professionals and others with a powerful set of strategic and tactical negotiation tools. Procurement is a profit center and every dollar of cost savings or cost avoidance achieved through effective negotiations has a positive effect on the bottom line. With the rise of sophisticated and well-trained sales teams, purchasers are finding it increasingly difficult to negotiate with suppliers. Without advanced negotiation skills, it is easy to make mistakes and give away valuable information that undermines procurement’s ability to negotiate the best deal. Starting with the preplanning process through to the final agreement and implementation, this seminar will show participants how to think like a supplier, anticipate a supplier’s next moves, negotiate effectively, and reach agreements that are highly beneficial to your organization. The seminar has benefits not only for procurement professionals, but it can also benefit those who interact with suppliers. It provides non-procurement professionals with insights on how to partner effectively with procurement to achieve outstanding negotiation results with their suppliers. The faculty instructor will work closely with participants to determine seminar content and will write case studies, exercises, and practice negotiations from scratch to meet the unique needs of participants, building in real-world complexities and constraints your team actually faces. This seminar also features an interactive program where participants will learn to negotiate through case study exercises and role-playing scenarios tailored to your organization’s specific needs. Advanced principles, strategies, and tactics of negotiation will also be covered in depth, with an emphasis on purchasing and managing deals. Participants can learn valuable skills that optimize success not only in procurement, but also in many other aspects of business and life. Participants who take this customized TNI seminar will return to their jobs with a powerful set of tools and skills that can immediately and substantially improve their negotiating performance.

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  • Topics:
    • The Learning Process for Procurement Negotiation Skills
    • Managing the Supplier’s Perceptions of the Settlement Range
    • Building your Negotiation Pattern Vocabulary
    • The Maximum Supportable Position (MSP)
    • The Least Acceptable Settlement (LAS)
    • Developing your LAS and Identifying the Supplier’s LAS
    • The Procurement Negotiation Cycle
    • Develop your MSP
  • Key Takeaways:
    • More effectively frame the specific issues that need to be addressed in regards to price, contract terms, and specific requirements
    • Develop key alternatives to negotiated agreements and establish objective outcomes for the negotiation
    • Build relationship capital over time that will encourage suppliers to engage earlier and provide improvements
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