NEGOTIATION
chart
Hello everyone,
Negotiation in Procurement is very important. The purpose of this assignment is to learn why negotiation is important and practice how to negotiate.
One of the most important as well as one of the most interesting activities performed by buyers involves negotiating agreements with their suppliers.
First, what is negotiation? Negotiation is broadly defined as “conferring, discussing or bargaining to reach agreement in business transactions.” To be fully effective in procurement, negotiation must be utilized in its broadest context — as a decision making process. In this context, negotiation is a process of planning, reviewing and analyzing used by a buyer and a seller to reach acceptable agreements or compromises. These agreements and compromises include all aspects of the business transaction, not just price.
Negotiation
What can you negotiate in Procurement?
Negotiation
How to Negotiate?
https://www.youtube.com/watch?v=z3U0FRb9yr4 (Links to an external site.)
What you need to do?
1. Review all materials above.
2. Think about a time when you had to negotiate. If you have never had to negotiate anything. Now, it is your opportunity.
3. Present the scenario where you had to negotiate. It could be at work with a supplier, at a store when you bought something, at work when you negotiated a salary raise, maybe you had to negotiate something with a family member, etc.
4. Follow the chart with the 7 effective tips to negotiate in Procurement.
Negotiation purchasing
5. Submit your negotiation scenario, goals, how you prepared for this negotiation, how and when you started the negotiation, what negotiation strategies you applied and what was the outcome of the negotiation.
6. Submit this part first as soon as possible.
Submit your assignment first. Canvas will automatically select a peer’s comments for you to review. complete a peer review.
Read and respond to one other classmate, either agreeing or disagreeing AND adding something to his or her reflection. For full credit on this assignment, respond substantively to your classmate’s post reflecting back to the reading material.
IMPORTANT:
You can only do this assignment on a computer, not on a phone.
Here are the instructions on how to find the peer review and comment after you submitted your part.
https://community.canvaslms.com/t5/Student-Guide/How-do-I-submit-a-peer-review-to-an-assignment/ta-p/293
