Many companies struggle with offering optimal incentives to suppliers when requesting cost reductions. Traditional negotiation techniques accompanied by recent inflationary trends have prevented buyers from taking advantage of the leverage in their supply base, and prices have remained high, leaving value on the table. The excellent news is game theory can help. In this session, attendees will learn the fundamentals of game theory and how it can help buyers gain the upper hand in their negotiations and drive savings and other commercial value. Attendees will also hear from David Schultz, Chief Supply Chain Officer of Westfall Technik, about Westfall’s success leveraging game theory in their recent packaging and freight negotiations.

Contributors: NERA Economic Consulting, Westfall Technik
Categories: 2023 Fall - Scottsdale, Summit Presentations
SRC Type: Sourcing, Strategy