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I can't recall any negations I have made at work but I can recall some of the times that i have talked prices down from people on Facebook marketplace. Mostly using bargaining techniques like calling into question how long an item has been on market, if it is above market value and why they believe it to be worth as much. This all being said i only managed a few worthwhile negotiation because it would seem that most the time people are out to make a profit on things that they should be breaking even on because they've had them for extended periods of time and are not using them or they are not in the best condition.

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I have requested data from vendors on pilot workflows and used the same to implement process changes that improved productivity and quality.

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I have requested data from vendors on pilot workflows and used the same to implement process changes that improved productivity and quality.

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I like to work collaboratively with suppliers  and list to the market. I think that supports long term partnership and growth for both parties. 

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I like to work collaboratively with suppliers  and list to the market. I think that supports long term partnership and growth for both parties. 

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Consulting:this creates a mutual agreement where its beneficial to both

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Consulting:this creates a mutual agreement where its beneficial to both

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Let the vendor know that you are not the sole decision-maker, for example: "My Finance department does not approve your pricing proposal — what can you do in this case?" And above all, assess the market, your relationship with the supplier, potential competitors... to understand your bargaining power!

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Let the vendor know that you are not the sole decision-maker, for example: "My Finance department does not approve your pricing proposal — what can you do in this case?" And above all, assess the market, your relationship with the supplier, potential competitors... to understand your bargaining power!

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Anchoring — BBM Inflation Negotiation

The BBM Vendor requested a 2% price increase; I anchored low using benchmark data across suppliers and negotiated down to 0.7%, generating $205K savings across 5 suppliers. It worked because data-backed anchoring set the negotiation range in my favor.

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A supplier bidding for new business had a previous record of delivery failure. Knowing this information, it was useful in negotiating a discount on future business.

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Negotiation can be driven - Is Buyer having more power or Seller

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Negotiation can be driven - Is Buyer having more power or Seller

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Some negotiations buyers might have more power, depending the category, the market and country, each part might balance power for a negotiation. Data and relations helps on these cases.

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I have done my home work and based on the information

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I like to create an engagement first and then negotiate to create value for both parties a win-win approach

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I like to create an engagement first and then negotiate to create value for both parties a win-win approach

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I find both of these methods excellent foundations for a fair negotiation atmosphere, but not the kind of thing to appeal to in negotiations. Relationships with suppliers must always be predicated on the fact that both of us are ultimately here to provide value to our companies, and any appeal to friendship in order to secure a more favorable negotiation undermines both the friendship and the negotiation.

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Leveraging external data sources to define bench marks of product in question, in lieu of commitment to volumes showcasing foretasted growth and using Amazons brand and historical growth as the means to showcase the vast business that can be gained by supplier to drive then per unit reductions and sell the vision of continuously expanding demand.  

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Leveraging external data sources to define bench marks of product in question, in lieu of commitment to volumes showcasing foretasted growth and using Amazons brand and historical growth as the means to showcase the vast business that can be gained by supplier to drive then per unit reductions and sell the vision of continuously expanding demand.  

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I generally use multiple tactics that have helped me yield the best reward for the business.

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Market driven negotiation for commodities

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Market driven negotiation for commodities

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In many cases, I find the need to juggle between multiple tactics or even start with one tactic, and elevate the deal with adding another tactic. All depends on how to stay focused during the discussions and grab good information about the supplier's history, current state, and future objectives, before entering any negotiation - Marwa

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Socializing, Appealing to Values and Exchanging

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Socializing, Appealing to Values and Exchanging

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Building relationships/socializing has seemed to be most impactful in my experience. Setting the foundation of the partnership not only leads to trust and dependability but also helps ensure all parties are successful and benefit from the partnership. Understanding the needs of each other with clear expectations is also key when being successful in negotiating. 

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Building relationships/socializing has seemed to be most impactful in my experience. Setting the foundation of the partnership not only leads to trust and dependability but also helps ensure all parties are successful and benefit from the partnership. Understanding the needs of each other with clear expectations is also key when being successful in negotiating. 

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Socializing has seemed to be the most impactful method for me. Building relationships and ensuring both parties are mutually benefitting from the arrangement. 

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Socializing has seemed to be the most impactful method for me. Building relationships and ensuring both parties are mutually benefitting from the arrangement. 

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I'd like to share my preferred approach to supplier negotiations, which I've found to be highly effective in securing favorable terms and building lasting partnerships. My strategy centers on establishing a robust relationship with the supplier, emphasizing personal interaction and clear communication.

Typically, I initiate the process by arranging a face-to-face meeting or, when circumstances necessitate, a video conference. This direct engagement allows me to observe and interpret the supplier's reactions in real-time, providing valuable insights that often prove crucial during negotiations.

During these interactions, I focus on clearly articulating our needs and expectations. I find that this approach not only helps the supplier understand our requirements more thoroughly but also allows me to gauge their responsiveness and flexibility. By reading their body language and verbal cues, I can often discern their level of commitment and identify potential areas of compromise or collaboration.

This method of engagement goes beyond mere transactional discussions. It lays the groundwork for a more strategic partnership, where both parties can openly discuss challenges, explore innovative solutions, and align on long-term objectives. I've found that suppliers often appreciate this level of transparency and are more likely to offer competitive terms when they feel genuinely understood and valued.

Moreover, this approach aligns well with our procurement best practices outlined in the GPO Handbook, particularly in terms of fostering open communication and building strong supplier relationships. It also allows us to better assess the supplier's cultural fit with our organization, which is crucial for long-term success.

I'm confident that by employing this negotiation strategy, we can secure more favorable terms while also cultivating lasting, mutually beneficial supplier relationships. I'm happy to discuss this approach further or provide specific examples of its success in past negotiations.

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I use a lot "citing the authority", "logical persuasion" and "consulting", I prepare a case with best / worst scenarios to anticipate the conversation, and try to drive the conversation to my own interests.

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Sell the future or establish a partnership

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Taking time to build rapport or establish a personal connection can help create a more comfortable atmosphere in negotiation from my experience. Identifying common goals and outcomes where both mutual can benefit, helps strengthens business goals and the relationship.

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Make small concessions that are important to the other party

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Make small concessions that are important to the other party

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Logical Persuading, Modeling, Consulting, Stating 

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Logical Persuading, Modeling, Consulting, Stating 

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Building relationships and having the ability to use this to negotiate in a win/win situation

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marutapi

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When working in a category project on an RFP, we took suppliers bids and utilized price analysis tactics in order to negotiate with suppliers on how they came created their pricing strategies and how they compare against other suppliers in a numerical way in order to choose the best supplier to support.

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Building relationships

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As of now, I have used this approach in GPSS we send a RFQ through Fairmarkit, specifying the items the requesters need and any requirements. Suppliers onboarded in Coupa, meaning registered in Fairmarkit can see the RFQ and submit bids.

Throughout the bidding process, Fairmarkit continuously evaluates factors like supplier reliability, quality, and pricing history to provide us with the most advantageous options.

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Market Intelligence data providers negotiation

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Market Intelligence data providers negotiation

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I have used Logical persuading for significant price increases. I requested the logics of the increase (increased functionality or coverage of the services, additional support, etc). This approach usually serves to clear up the value perception and usually adjust down the request. However when the supplier position is significantly stronger (no feasible alternative products in the market due to increased market consolidation), this technic is not very useful.

Then I have used mostly #7 Appealing to Values and #9 Exchanging (very few times #10 Building alliances). The idea is to show the strategic value that our account has for them and that we value this strategic business relationship that will enable to increase the business scope in the future or can impact on their own knowledge about the segment we are positioned.