Global Leaders in Procurement & Negotiations (PSCMInstitute.com)

Purchasing

Writing the Other Party’s Negotiation Victory Speech

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 …

Writing the Other Party’s Negotiation Victory Speech Read More »

Here’s Why Your Legal Dept Holds Up Negotiations

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 …

Here’s Why Your Legal Dept Holds Up Negotiations Read More »

Sunk Costs in Negotiations

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 …

Sunk Costs in Negotiations Read More »

The Fallacy of At The Table Negotiations

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 …

The Fallacy of At The Table Negotiations Read More »