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.

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: March 10, 2024
62 Reviews (179 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 was a great course on learning how to negotiate. It offers a lot of good tips and strategies for preparing for negotiations and actually negotiating. This is a useful course for anyone working in the Procurement or Purchase department at any company.

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
Good reminders about how to negotiate contracts with suppliers/vendors. I have not had to do a lot of negotiating in previous positions. The course contains solid suggestions about the steps to negotiating with suppliers/ vendors.

5
Anonymous Author
I enjoyed this course. The instructor had real-life knowledge and examples that he drew from to teach the steps in the vendor negotiation process. This course went step-by-step through what to consider for your first negotiation.

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
Anonymous Author
This was a very informative and concise course. I have absolutely no experience in the area of Procurement, but was able to quickly get a good, structured understanding of the subject here. Thank you.

4
Anonymous Author
I do not negotiate contracts in my current role however the course was informative. However after completing this course not sure I could jump in a negotiate, it's definitely for beginners.

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
This was a great course on learning to negotiate in general. It provides many tips and strategies for that would be helpful in numerous successful negotiations..

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.

5
Anonymous Author
Good overview of considerations and inclusive stakeholder input when negotiating with suppliers, especially for someone with no experience in the field.

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
Anonymous Author
comprehensive and easy to follow; great course even for experienced negotiators; would recommend this course to beginners and as a refresh tool

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
All purchasing departments could benefit from this course. Simple suggestions that could result in great savings!

3
Anonymous Author
The presenter read 98% of the course from a script in a monotone voice. It took away from the excellent content.

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.

5
Member's Profile
Instructor had relative experience to gain credibility in his presentation. Was knowledgable and thorough

3
Member's Profile
Covered end to end process effectively. This is an introductory course into negotiation practises.

4
Member's Profile
The course provided real life examples which helped understand how it associated to the materials.

5
Member's Profile
This course was well prepared and well presented with excellent insights and practical examples.

5
Member's Profile
Loved this course. This was better than an 8 hour in person course I completed on Negotiations.

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
Really enjoyed the course. Fundamentals of negotiations.

5
Member's Profile
Very comprehensive, with great examples of key concepts

5
Anonymous Author
Good topic with nice pointers and key considerations.

4
Anonymous Author
Relevant information for today's business environment

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 .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
Considerations and Analysis
  Preliminary Considerations 17:14
  Market Analysis13:39
Negotiating with Suppliers
  Three RFx Rules10:25
  Preparing for Negotiations 8:54
  Actual Negotiations 11:04
  Post Negotiation Best Practices2:50
Conclusion
  Course Summary9:32
Continuous Play
  How To Negotiate With Suppliers1:19:52
SUPPORTING MATERIALS
  Slides: How To Negotiate With SuppliersPDF
  How To Negotiate With Suppliers Glossary/IndexPDF
  Bonus Material: Cover Letter SampleDOC
  Bonus Material: Supplier info and final RFQ template SAMPLExls
  Bonus Material: Sample RFQ and T&CsDOC
REVIEW & TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam