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Tips for Successful Supplier Negotiations

For successful vendor negotiations, fact-based discussions go a long way toward removing emotion from the negotiation process.

When you’re talking to business owners or contract managers, don’t say: "You're charging us too much” or “Your material rates are too high!" This negotiation strategy pits stakeholders against each other and poisons long-term relationships.

Instead, try saying: "Let's look at this part. I want to understand the processes that built up to the final cost." or "I show X as the average price per pound for this stock size. Does this align with what you're paying?"

The goal of a contract negotiation is not just to achieve cost savings, but to build a long-term relationship with your service providers that all stakeholders see as successful.

To learn more, get the guide to should cost analysis and negotiation:

#vendornegotiation #shouldcost