Negotiating with SuppliersRED BEAR Negotiation Limited Liability Company
Negotiating with Suppliers
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Negotiating with Suppliers
Purchasing is more than just cost savings. You need your procurement professionals to enable growth, impact financial performance, and build profitable relationships with suppliers that guarantee the reliability of supply. Negotiating With Suppliers™ (NWS) is the new playbook for how procurement gets done, providing the skills, tools, and behaviors buyers need to craft profitable, value-based agreements with suppliers.
The Impact of Inneffective Supplier Negotiations
1% = 4% = 100%
Nearly 70% of a typical company’s revenue goes back out the door to its suppliers. A 1% reduction in those costs can increase profits by more than 4%. Every dollar saved in supplier negotiations falls 100% to the corporate bottom line.
What if your procurement team had a proven negotiation model and a set of simple principles to guide them through each negotiation successfully? What if they had an intuitive framework to help them prepare for every negotiation? This is what Negotiating With Supplier™ provides – a set of six negotiation principles, a negotiation model, a robust (but simple to use) planning tool and five behaviors to make these come to life –all based on the solid foundation of Stanford University research.
RED BEAR’s philosophy is that every negotiation has three dimensions. A Competitive Dimension that helps negotiators protect their own interests (and those of the company they work for); a Collaborative Dimension that helps negotiators build long-term "win-win" relationships; and a Creative Dimension where "Healthy" Tension must be managed effectively and serves as a catalyst for finding creative breakthroughs during deadlocks. When procurement professionals master all three of these dimensions, the result is better agreements that are more profitable and sustainable.
Derived from Stanford University research, these six guiding principles are the "rules of the game" that are used by expert negotiators use to navigate through each negotiation. These principles are at the heart of RED BEAR's negotiation process and form the basis for how negotiations get done.
These five behaviors (two competitive, three collaborative) guide buyers on "what to do and say" during a negotiation in order to apply RED BEAR's negotiation model and principles. When used effectively, they enable you to “operationalize” each dimension of the RED BEAR negotiation model.
This simple but robust planning tool serves as a framework for helping procurement professionals plan, organize and apply RED BEARs negotiation concepts (the model, principles, and behaviors) to their real-world supplier negotiations. The tool helps ensure that buyers walk into each negotiation well-prepared and ready to negotiate.
Certification / Credits
Empower procurement professionals to transform their approach to negotiating more effective supplier agreements.
About RED BEAR Negotiation Co.
RED BEAR Negotiation Limited Liability Company
RED BEAR Negotiation Company is a global leader in business-to-business negotiation training. Our discovery-based learning approach, first developed by BayGroup International, empowers sales and procurement teams to negotiate more profitable agreements and build stronger relationships with clients, suppliers, and colleagues....
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