Solid preparation is key to achieving success when negotiating contracts with vendors. Putting in some time at the front end to prepare for the negotiation can go a long way towards helping the organization obtain the products and services it needs at an affordable price.
This research note discusses:
- Reviewing the contract proposed by the vendor.
- Establishing a negotiation team.
- Setting negotiation targets.
- Outlining the negotiation strategy.
Feel confident going into a contract negotiation by taking the time to identify targets and outline a negotiation strategy.