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CILT Endorsed Negotiation Strategies for Better Purchasing Value - Virtual Learning

CILT Endorsed Negotiation Strategies for Better Purchasing Value - Virtual Learning

Why Attend

One of the most important and required skills for a purchasing professional is negotiation. In this course, we will explore the various modern negotiation methods from a purchasing perspective. We will cover in detail the various negotiation strategies required to meet the purchasing needs of the organization. The strong and weak points of the buyer along with the strong and weak points of the supplier will be explored. We will also discover the appropriate negotiation styles for various situations, including complex situations that will require careful attention.

Associations
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Overview
Course Methodology

This course uses a variety of interactive training methods such as role playing, videos, team exercises, individual exercises, case studies, group discussions and questionnaires.

Course Objectives

By the end of the course, participants will be able to:

  • Develop effective negotiation strategies to meet the purchasing needs of the organization
  • Implement those strategies to maximize purchasing value and perform supplier pre-qualifications
  • Discover the appropriate negotiation style for each situation
  • Handle and deal with complex negotiation situations
  • Manage post-negotiation activities, and build strong, long-term relationships with vendors to ensure ongoing value
Target Audience

Buyers, senior buyers, purchasing supervisors, and all other company personnel who are involved in the negotiation process.

Target Competencies
  • Conducting strategic negotiation
  • Understanding power dynamics in negotiations
  • Improving negotiation planning skills
  • Communicating with suppliers
  • Dealing with difficult suppliers
  • Performing supplier evaluations
Course Outline
  • Effective negotiation strategies
    • Definition of purchasing
    • Introduction to negotiations
    • Key negotiation principles
    • Analyzing buyer's needs and setting goals
    • Exploring negotiation strategies
    • Market analysis
  • Purchasing value and supplier pre-qualification
    • Supplier pre-qualification process
    • Application of negotiation strategies
    • Maximizing purchasing value
    • Negotiating contract terms
    • Monitoring and evaluating negotiation outcomes
  • Developing a negotiating style
    • The negotiation style profile
    • Buyer/supplier strength and weaknesses
    • Bargaining versus negotiation
    • Adapting your style
    • Effective communication skills
    • Active listening and rapport building
  • Dealing with complex negotiations
    • Analyzing complex negotiation scenarios
    • Managing power dynamics
    • Cultural differences in negotiation
    • Managing emotions and pressure
    • Breaking deadlocks and reaching agreements
  • Negotiation implementation and long-term relationships
    • Negotiation implementation plans
    • Post-negotiation activities
    • Vendor relationships
    • Negotiation skills for on-going challenges
    • Monitor long-term partnerships
Schedule & Fees
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