How to Bargain & Negotiate with Vendors and Suppliers
Tools, tactics, and techniques to get the terms, prices, and conditions you want
 If you deal with vendors and suppliers on a routine basis, you know how hard it is to negotiate agreements where everyone (and especially you!) walks away satisfied.
Face the facts: bargaining is a part of the business world, and it's up to you to get the best deals for your company — whether those deals include lower pricing, extended service contracts, faster service, additional training programs, volume discounts, longer warranties, or price protection.
This essential negotiating course will give you the upper hand at the bargaining table, and arm you with the right tools for getting lower prices, quicker delivery, higher quality, and better service. You'll find that negotiation is less stressful and less of a hassle than it ever was before. In fact, you'll even start to look forward to the challenge, once you're armed with the practical bargaining skills, proven techniques, and "insider tricks" you'll learn here!
In just one day, you'll learn …
- How to tell when it's time to back down and compromise, and when it's best to keep the pressure on
- When price isn't negotiable — how to still come out ahead of the game
- What you — as a buyer — need to know about your seller's goals and positioning
- How to respond when the seller says, "that's my best offer, take it or leave it"
- What to do when you're hit by "Buyer's Remorse"
- When no one's budging — how to break a deadlock and move on
Who will benefit:
- Purchasing managers
- Office managers
- Buyers and Senior buyers
- Contractors and Contract Administrators
Course Objectives:
- Determining your negotiation strengths and weaknesses
- Getting "mentally ready" to negotiate — preparation techniques that really made a difference
- Reaching win-win agreements through alternative bargaining strategies
- Pumping up your personal power, even if you're not an assertive, aggressive type
- Using RFPs and RFQs as bargaining tools
- Building your listening skills — the tough negotiator's secret weapon
- Understanding how the "cycle of negotiation" works, and how to make it work better for you
As a result of this training:
This workshop will give you a wealth of powerful new skills, fascinating insights and proven-to-work techniques — all geared toward helping you come out of every bargaining session on top. You'll gain an extraordinary arsenal of bargaining skills designed to help you:
- Stop giving in too soon, settling for less, and sabotaging your bargaining success
- Master the "rules of persuasion" and help your opponent to see things your way
- Perfect the art of the "win-win" or collaboration outcome
- Discover how different personalities use different negotiation styles
- Learn to spot tactics your vendors use to put you on the defensive
- Come across as more assertive, without being seen as an aggressor
- Master techniques for keeping your emotions firmly in check, no matter how heated the discussion gets
- Make your every concession seem like a "really big deal"
- Call a vendor's bluff without breaking down talks altogether
Read Program Overview
Program Overview
Negotiation 101 — Bargaining Basics You Shouldn't Be Without
- Common myths and beliefs about negotiation — you'll be surprised at what you don't know!
- "Solving the problem" and "maintaining the relationship" — the two main directives of any negotiation
- The five classic negotiation approaches: Defeat (I win/you lose), Accommodate (I lose/you win), Withdrawal, Win/Win or Collaboration, and Compromise
- Understanding the 5-step cycle of negotiation and how it affects your outcome
Preparing to Succeed — Devise a Plan, Develop Your Strategies and Play to Win!
- How to choose the bargaining approach that's best for your situation
- Creating a supportive climate that sets both parties at ease
- Situations in which compromise may be your best bet
- The differences between an RFP and an RFQ — how to use these in your bargaining efforts
- Alternative sourcing — how to use this bargaining weapon to your advantage without shutting down negotiations
- Four different bargaining personalities and how to handle them when you're negotiating face-to-face, via telephone and through e-mail
- Cultural differences you must be aware of when negotiating with diverse parties
- BATNA: What it is, why it's absolutely critical to your negotiation strategy
- How to use scripts, timing, and nonverbal behavior to obtain your "aspiration price"
Back to Program Overview
It's Your Move — How to Strengthen Your Position and Stay In Control
- "Flinch" and the "poker face" — how to use these two powerful nonverbal clues to your best advantage
- When the seller can't — or won't — budge on price: here's a valuable checklist of things you CAN and SHOULD negotiate on
- Why you should insist on a face-to-face meeting when a seller contacts you with word of a price increase
- Creative bargaining alternatives when a price increase is inevitable
- Why you should base your negotiations on cost analysis, not price
- Commodities and services that are best for price negotiation
- Making negotiation a team effort — preparation, strategies, and key issues to remember when negotiating with a team
Use These Tools and Techniques to Gain the Upper Hand and Come Out a Winner!
- When you can't meet in person — tools, techniques, and methods for negotiating electronically
- How to probe for information — without sending up any "red flags" to your opponent
- Learn to "listen between the lines" and quietly build your case
- What motivates the seller? What are they really thinking? Insider info to help you understand "what's inside their heads" and use it to your advantage!
- Tips for coming on more powerfully and assertively without being seen as an aggressor
- The truth about concessions — how to demand them, how to accept them, how to make them seem like a "really big deal"
- When talks fall apart and negotiations "hit a wall" — here's how to break deadlocks and move forward
- Essential terms and conditions you'll want to include on every contract
Back to Program Overview
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