Effective Purchasing and Contract Negotiation Strategies
INTRODUCTION
The ability to negotiate is one of the basic commercial business requirements yet it is often delegated to those least able to produce an effective outcome. The impact of poor negotiation is therefore felt throughout an organization and has an immediate negative effect on company profitability. Understanding contract law has become an essential part of conducting our daily business functions. Your ability to be effective and to keep your company out of costly and time-consuming legal disputes depends on your knowledge or relevant laws but also on the ability to read and understand contracts and to draft or rewrite such contracts effectively. This course will teach best practice in effective purchasing and contract negotiation strategies.
Course Objectives:
- Explore the approaches in negotiations
- Recognize the standards of ethics
- Understand the importance of determining, rating, and valuing the issues in a negotiation
- Evaluate strengths and weaknesses
- Understand the important issues in various contract clauses
- Understand the important elements of the final preparation
- Explore common negotiation tactics & countermeasures
- Gain experience & confidence through the actual negotiation of sample cases