Principles of Purchasing and Negotiations

In the world of business, there is purchasing and then there are negotiations. On one hand, there is a simple negotiation for commodities and services where factors like price, terms and delivery are easy to define and the outcome of the process is almost predetermined. However, in today's hyper-competitive global economy, the scope and significance of negotiation can involve intense, high-stakes interactions revolving around a series of complex issues affecting multiple parties. When facing these more sophisticated situations, negotiators need highly developed negotiation skills and strategies to guide them through the intensive five-step process that is often the difference between getting what you want and settling for what the other side will give you. In today's super-competitive economy, both your company and your suppliers will be angling for the best deals they can negotiate. Here's how both can win! Suppliers are frequently far better trained with negotiation skills then the purchasers (procurement personnel) who deal with them.