Perhaps no other topic creates as much apprehension between a buyer and a supplier as trying to negotiate a fair price for a product or service. The conventional procurement process puts buyers and sellers on opposite sides of the table until the parties “get to yes.” While a buying company and service provider often “get to yes” and go on to establish a business agreement, they will frequently face renegotiations. Buyers especially become frustrated — frequently blaming suppliers for not honoring their original price. Rather than being frustrated, buyers should look in the mirror and say, “Did I get what I paid for? And if not — why?”

Contributors: SIG, University of Tennessee
Categories: SIG U Resource, Tool
SRC Type: Benchmarking and Analysis, Procurement Operations, Sourcing