Instructor for this course
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Negotiating is a part of everyday life—from ordering lunch to buying a car—but in business the ability to navigate negotiations with your vendors and suppliers can make the difference between success and failure. Like many business situations, the key to successful negotiation is that the more prepared you are, the more confident and effective you’ll be.

This course will provide you with the practical approach, tools, knowledge and confidence you need to direct negotiations to your advantage. You will be introduced to a logical, step-by-step process that will ensure you have the best plan in place to achieve the desired objective with your negotiation, including:

  • Risks: How to minimize or avoid them
  • Preparation and pre-negotiation strategies
  • Tactics to reduce stress, mistakes, risks and achieve your goal
  • How to leverage request tools, such as request for quote or proposal, for optimal outcomes
  • Reviewing and selecting the best proposal

Examples of best practices, actual experiences, “Good to Knows” and viable options will be shared throughout the course. Even though every negotiation is a unique event, this course is to provide you the practical blueprint for achieving successful agreements.

Intro Video Transcript

Hello everyone and thank you for joining us. We welcome you to Illumeo course “Key to a Successful Negotiation. My name is Richard Rafdahl and I have been procurement and supply chain field for over 25 years, as Vice-President of procurement for several large organizations. More recently I founded my own procurement consultant group cost reduction specialists and we assist various organizations manufacturing, distributer and non-profits; eliminate unnecessary cost and optimize profit by negotiating highly competitive agreement of various products and services that are purchased. During my career I have negotiated hundreds of different contracts and programs. Most of been successful but there been a few the final result have fallen a short. What about I share with you today a bit of knowledge I have gain from my own trails, years of experiences as well as from the greatest advice and knowledge I have received over the years from excellent procurement professionals who had the good fortune of work with. Today I will share with you the key steps that will lead to a successful negotiation. This is probably fair to say that most of us particularly comfortable with negotiations and the stress can be generated with the activity. This is an especially true this is an activity that we are rarely engaging. The reality is that it can be a form of conflict for some great intention when anticipating in an upcoming negotiation. Particularly if you are well prepared or not sure what to do. For some, it is not a fun experience. The fact is that some negotiation can have tense moments and face to face conflict do occur which can be very unsettling. But I believe the more prepared and more informed you are, the less stress that will be. Also part of dilemma is that you need to less do it once to pass all the initial anxiety comes something new and certain but once you reach the milestone, it will become much easier. In an elegy I have and I think what all can be relay to may the first time we decide we want to jump of the high dive. We know when we are in the pool, we can swim to the edge with no problem. The fear of jumping from the height that we have not achieved before, fells a little overwarming, particularly for the first time. There are tremendous modern interpretation, fear and doubt. At first we look down to the friends and schoolmates below, we don’t want to look foolish, we don’t want to make mistake, we don’t want to make bally flop. But when we take the first slip of the high dive, it no longer feels like overwarming. The same can be said for negotiation. My objective today to provide you the tools to be more comfortable and confident and achieving your objective when a negotiation is required. What I will share with you today will not only provide you a blueprint on how to have a more successful negotiation but to also make it less uncomfortable and excise experience. Most of these all experience negotiation or have been some version negotiation are regular basis. Negotiation are happening every day in our life but simply we are not aware of it. For example, when we order a meal in a local restaurant, something of the menu substituted or different. Isn’t this a negotiation? This is obviously a small time negotiation, and less of course you have a different and inflexible, that’s a different story. Most of you are likely be or already been engages some fairly, significant negotiation during your life that are common to all of us such as to purchase a car or a home, and more prepared and inform you are, the better your chances to securing the best deal possible or at least not be taken an advantage of. By investing the time to research the market, the competitive price that exists, available options and what absolutely necessity you and what’s just nice to have, you will have the information and knowledge what work to advantage and will like to secure yourself a great deal. Isn’t that the ultimate goal to get the best deal? Again these are common life experiences with proper preparations and negotiations can help you out financially. Obviously in the business world, the stakes are much higher. The variables to consider more complex and the saving opportunities more significant. But you invest the time and play the same investigator process through preparation and responsible logic, you often achieve your objective. The primary topics will be covering today will be initial considerations. For example, is that timing right to proceed with the negotiation. We will discuss this in the other four key considerations. Risk. What are they and how best to avoid and minimize them? Objective. And again the actual goal is the combination of several micro objectives which we will go more detail throughout the presentation. Preparation. As you might expect, this is the most labor and tense portion of the process. Time and effort must be invested in the all-important due diligent to ensure you have them critical information and appropriate knowledge to develop the optimal plan. RFx Tools. Someone call them request for quotation, request for proposal and request for information. How these tools can contribute more trowel and most effective negotiation event regarding the information you want to compline. Pre-Negotiation Strategy. What are the best strategies to you to increase your chances to success? We will review those and some of the tactics. What are the tools and tactics that can be used minimize mistakes, reduce risk and achieve your goal. Review final results. What to consider in the proposal that you receive and what is important? And finally, selecting the best proposal. Again this may not be what you think. This is not about the lowest price, but more about the optimum value.

Learning Objectives

  • Ascertain the importance of a clear and complete objective.
  • Review the critical preparation steps.
  • Discuss a comprehensive Request for Quotation (RFQ) or Request of Proposal (RFP).
  • Acquire effective negotiation strategies and tactics.
  • Discover what to consider when making the final decision and supplier selection.    
Last updated/reviewed: July 20, 2018

45 Reviews (118 ratings)Reviews

5
Member's Profile
Great course! The process steps, general information, and recommendations provided can be leveraged not only in negotiations with suppliers, but other situations where you want to reach agreement for things like managing projects, driving/implementing change, or establishing partnerships.
5
Anonymous Author
This online course packed a lot of material in a short time frame. There were a great number of tips and the various tools and templates provided are very helpful. The instructor employed a very structured, methodical approach. Very beneficial!
5
Anonymous Author
Although this is basically common sense, which the instructor points out in the conclusion, each bullet point was explained very well. This is a presentation I will go back to again and again due to the depth of explanation.
5
Member's Profile
This course gives a great baseline for people new to negotiating. It gives guidelines and some tactics for how to make an uncomfortable situation more comfortable. The pace was good and well structured.
4
Member's Profile
The course was mostly geared towards product negotiations but very valuable nevertheless. I appreciate the pace of the course and especially the review materials.
5
Member's Profile
Very comprehensive review of this topic. I was impressed with the instructor's knowledge and ability to present so much information in a relatively short time.
4
Member's Profile
Good course on negotiation and a comprehensive approach to a win-win result. Would recommend to anyone with little to basic knowledge of procurement.
5
Member's Profile
Great fundamentals course in negotiating with suppliers and going through the needed preparation, discovery, and processes (including RFx process).
5
Member's Profile
Great course. A lot of details and useful information. No surprises. People involved with procurement efforts could benefit from this course.
4
Anonymous Author
I thought it was a good course, more for companies that make products but the lessons learned can be applied to all negotiation strategies.
5
Member's Profile
This course was truly well organized and provided great slides that hit major points. I’m keeping a couple for negotiation reminders.
4
Member's Profile
I'm about to do some supplier negotiation as part of significant cost-out efforts, and this was an excellent overview of the process.
5
Anonymous Author
Excellent course for for overview on negotiations. Supporting materials are very beneficial for reference as well.
3
Anonymous Author
Good information and solid! But, a lot of talking and smaller details to track. Major points understood though.
4
Member's Profile
Definetly interesting, but a very long and complex subject that would require more sessions and plenty of example
4
Anonymous Author
Speaker was monotone - Did not like the fact that I could not see what questions I answered wrong on final exam.
4
Member's Profile
Thorough explanation of the entire process. Lots of best practices (and mistakes) shared from the instructor.
4
Member's Profile
Course was adequate for stated objectives but did not prefer presentation as well as others recently taken.
3
Member's Profile
Covered end to end process effectively. This is an introductory course into negotiation practises.
3
Member's Profile
Good introduction to negotiation - applicable in multiple scenarios, internal & external
4
Anonymous Author
Very detailed and comprehensive. Key focus points were stressed on multiple occasions.
Anonymous Author
Some helpful tips but a lot of it was common sense. Good tools provided though.
5
Anonymous Author
Very good course. I like all of the resources he provided. Will come in handy!!
4
Member's Profile
Very interesting. Had not thought that detailed about negotiation preparation.
3
Member's Profile
more time and examples would have been nice. there is a lot of infomormation
4
Member's Profile
There are detailed negotiation techniques which are very useful.
3
Anonymous Author
Not the most exciting presenter, but he was very knowledgeable.
4
Anonymous Author
Il liked the amount of info, well thought out, good advice.
5
Member's Profile
Good summary on wide aspects to consider in negotiations.
4
Anonymous Author
Good content and sample documents included in the course
5
Member's Profile
Very comprehensive, with great examples of key concepts
4
Anonymous Author
Good example of what one should do and what to avoid.
4
Anonymous Author
very good one add more like this really im impressed
5
Member's Profile
Informative and samples of documents are helpful.
5
Member's Profile
Thank you very much for this valuable course.
5
Member's Profile
Great course! Very informative and helpful.
5
Anonymous Author
Very relevant points that can be applied.
5
Anonymous Author
Insightful, logical and well structured.
5
Member's Profile
Great tips on negotiation process.
5
Member's Profile
Provided great points to consider.
5
Anonymous Author
Tough questions.
4
Anonymous Author
Good overview.
4
Anonymous Author
Thank you...
5
Anonymous Author
was great
5
Anonymous Author
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Prerequisites

Course Complexity: Intermediate

Prerequisite: Exposure to procurement

 

Advanced Preparation: None

 

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
Considerations and Analysis
  17:14Preliminary Considerations
  13:39Market Analysis
Negotiating with Suppliers
  10:25Three RFx Rules
  8:54Preparing for Negotiations
  11:04Actual Negotiations
  2:50Post Negotiation Best Practices
Conclusion
  9:32Course Summary
Continuous Play
  1:19:52How To Negotiate With Suppliers
SUPPORTING MATERIALS
  PDFSlides: How To Negotiate With Suppliers
  PDFHow To Negotiate With Suppliers Glossary/Index
  DOCBonus Material: Cover Letter Sample
  xlsBonus Material: Supplier info and final RFQ template SAMPLE
  DOCBonus Material: Sample RFQ and T&Cs
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM