Global Leaders in Procurement & Negotiations (PSCMInstitute.com)

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Procurement

AI-Enabled vs AI-Exposed: Why Most Procurement AI Initiatives Quietly Fail

Leave a Comment / AI, Artificial Intelligence, eProcurement, ePurchasing, Procurement, Procurement AI, procurement training, Purchasing, Purchasing Process, S2P, Source to Pay, Supply Chain /

The next divide in procurement isn’t digital versus analog. It’s bolt-on versus built-in — and it’s becoming a leadership choice. Where procurement has actually been The procurement journey has been driven by steady improvements in process, technology, and institutional knowledge — bringing us to what many now call the new age of procurement. But to […]

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Negotiating with Suppliers that have ALL the Bargaining Power

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I have more and more clients that are struggling with pandemic negotiations with suppliers who hold all the bargaining power.  There’s really only 2 things that can be done to address this: Or you can keep hammering the supplier on price, but you are already doing that, and you were doing it before the pandemic

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Writing the Other Party’s Negotiation Victory Speech

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Something we focus very little on in negotiations is how to make the other party look and feel successful out of the deal.  All of our focus is on how to make ourselves look, feel, and actually be successful in negotiations – and letting our management chain know.  But the other party has a management

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Here’s Why Your Legal Dept Holds Up Negotiations

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I’ll cut to the chase on this one: The problem is not the legal department.  The problem is you and your procurement dept.  Let me explain. There’s really a few pieces involved.  We’ll knock one of them out now.  The legal dept is viewed as overhead.  That means they will never be sufficiently funded, and

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Sunk Costs in Negotiations

negotiation training, negotiations, Procurement, procurement training, Purchasing /

You’ve all heard of the Sunk Cost Fallacy.  It’s a killer in negotiations.  But usually in INTERNAL negotiations – with management, end users, and other stakeholders.  Before we talk about the procurement implications, let me share a story.  There was a cult years ago that said the world would end on a particular day.   They

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The Fallacy of At The Table Negotiations

negotiation training, negotiations, Procurement, procurement training, Purchasing, Purchasing Negotiation, Purchasing Process, Purchasing Training, win-win /

I saw an article just this last week in LinkedIn describing different scenarios for buyer and seller to go back and forth on negotiation terms for best outcomes – offer, response, counter offer, counter response, etc.  It was touted as a game changing system, and was even given a name and trademarked, indicating it was

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