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HomeProcurementThe Essential Strategies for a Successful Procurement Negotiation

The Essential Strategies for a Successful Procurement Negotiation

In today’s hyper-connected and increasingly competitive market, the ability to negotiate effectively is more highly valued than ever before. Negotiator plays an important role in every successful organization. This is because a good negotiator can close the best deals, leading to the advancement of an organization, improved supplier relationships, sustainable competitive advantage and managing conflicts effectively which are all advantages of successful negotiations.

Clearly, negotiating skills are important in business. Poor negotiation can cripple a company just as quickly as losing key customers. The good news is that negotiation skills can be learned and practiced for better results. This can be done through innovative training, development programs or even self-disciplinary.

A Matter Of Mindset And Emotions

A negotiation mindset is beneficial for everyone from clients to employees. We must also negotiate with ourselves, be aware of instinctive reactions (psychological and physical), in order to regulate them and respond consciously and appropriately to the circumstances so that we get the best result.

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Jane Koh Lye Choo, DPSM
Jane Koh Lye Choo has substantive years of experiences in the field of administration and procurement, specifically in the semiconductor industry. Jane is a member of the Singapore Institute of Purchasing and Materials Management (SIPMM). She completed the Diploma in Procurement and Supply Management (DPSM) in June 2019 at SIPMM Institute.

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