What are some Supplier Negotiation Strategies for terms of payment?
Preparing for the negotiation is the most important part of business negotiation. It is specifically critical especially for complex, multi issue, multi party negotiations. During the preparation, the following the things that have to be considered, analyzed in support of the efforts and decision making processes in business negotiations:
Supplier Negotation Strategies:
1. Understand the context by analyzing the environment in which the business operates. Some key elements to be noted are the following: the nature of the sale or purchase making in terms of risks involved in expenditure level and risk complexity, nature of market and alternatives, if it is a one time deal or there is a possibility of long-term relationship, history of other negotiations, cultures represented, the individuals involved in the decision making process, the final users of the products to develop internal groups of support within counterparty negotiations.
2. It is critical to understand the tangibles and the deal ...
The solution discusses some supplier negotiation strategies for terms for payment. References included.