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SpendEdge’s strong team of advisors have a wealth of category–specific expertise to offer you a competitive edge over supplier negotiations.
Supplier negotiation is an art as much as it is a science. Walking the fine line between the two requires expertise, experience, and talent. At SpendEdge, we have created a strong team of procurement negotiation and contract advisors who have a wealth of category–specific expertise, reliable insights, trends and knowledge in specific categories provided by our large database of executed contracts, and a passion for win-win contracts for both buyers and suppliers.
At SpendEdge, we have helped countless SMEs and large corporate clients through their supplier negotiation and contract management processes. We can support you too, from the pre-negotiation stage all the way to post–contract execution. Get in touch today to learn how we can help or explore our Contract Management Services to learn more about our contract support services.
Define your boundaries upon which your company is willing to terminate the negotiation
- Service level
- Termination clause – fees/time
- IP protection (if any)
Ensure the setup enables you to successfully enter into productive negotiations.
- Location setup – usually supplier negotiations are best done in person, and if not, through leveraging up-to-date technologies that allow for an optimal two-way conversation.
- Stakeholder representation – technical and legal expertise is as instrumental to the negotiation process as executive level representation with whom the decision-making power rests on.
- Data and insights driven negotiations – it is important that both parties are well versed on each other’s profile, have market research data to back up expectations and requirements, understand risks of doing business with each other and address those risks during the negotiation meetings.
- Service Levels negotiations – identify the service and product level requirements that matter to the client
- Supplier Risks and Supply chain risks – identify and negotiate risks associated with the supplier and potential supply chain risks tied to this product or service
- Cost analysis – Ensure you run cost models and should cost analysis as part of your negotiation strategy, to ensure you are equipped with information that would lead to a profitable agreement for both sides.
- Price Negotiations – engage in price negotiations based on the information and insights gathered during your negotiation of the points above. Allow for flexibility and awareness of your pre-negotiation criteria.
Post negotiation / contract execution
Monitor activities post–contract execution and ensure that your agreement is living up to its standards and binding clause outlined in the contract. Ensure that any violations to terms and conditions of the contract are address on time and swiftly.
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