PurchTips edition #355<\/p>\n<\/div>
When negotiating with sole source suppliers, you need a different negotiation strategy than you\u2019d use in competitive situations. That negotiation strategy requires that you learn what the supplier\u2019s interests are, probe for latent cost savings opportunities, and try to discover ways to create mutual value. Your findings can position you to make the negotiation more of a collaboration, where you team up with the supplier to brainstorm ways to maximize the benefits for both parties.<\/p>\n
At the center of any good sole source supplier negotiation strategy is a series of questions. Those questions should extract valuable information that you can use to structure a great deal with the supplier.<\/p>\n
Based on a recent on-site training session I conducted alongside Dr. Soheila Lunney, my co-author for our book\u00a0The Procurement Game Plan<\/em>, here are some questions you can ask a sole source supplier in the context of a negotiation:<\/p>\n Members of the NLPA get great articles just like this by email every month. As a member, you will also get access to:<\/p>\n\n
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