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Do Your Homework
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Know who you are negotiating with, their strengths, weaknesses and hot buttons.
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Be sure that your overarching negotiations objectives are clear to everyone on the sourcing/negotiations team.
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Know how you want the prospective supplier to view you; remember that you may need to do business with them again.
Plan the Process
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Clarify roles within the team, i.e. who will do what.
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Set team rules, e.g. don't argue with each other in front of prospective supplier.
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Plan the logistics, e.g. face-to-face or other meetings, when, where, how.
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Develop a communications plan, e.g. who will introduce the process to the prospective supplier, what messages
do you want to send from the start, what messages do you want to defer.
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Think through the possible or probable responses you might get to your messages and how you will handle them.
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Reach consensus with your team on the initial negotiations strategy.
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Prepare for possible surprises.
Carry Out the Process with Professionalism
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Listen more and talk less.
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Think about the interactions from the prospective supplier's point of view.
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Don't beat up the prospective supplier to the point that you might jeopardize their business.
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Stay open-minded about the means to your desired ends.
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Know when to walk away.
Miller Consultants, Inc. is certified as a Woman Business
Enterprise
by the Kentucky Certification Cooperative (KCC) [more...]
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Miller Consultants, Inc.
627Upland Road, Louisville, KY 40206
Phone: (502) 895-0625 | Fax: (502) 895-0675
kathy@millerconsultants.com
Copyright © 1999-2007
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