Discuss the mechanisms of creating and establishing formal relationships with vendors.
Instructions
A successful negotiation is a complicated process, which requires research about the other side, preparation on how key elements that may be negotiated rank in significance for the company and what sorts of risks exist. In this assignment, you will analyze these elements.
- Items negotiated in a sourcing negotiation are not limited to just price. Describe three non-price issues that may be negotiated. Explain how each may impact the discussion on price and how each may impact the buyer and the seller.
- What are some key pieces of information that a buyer should gather about a potential supplier before entering negotiations? List at least three, including where this information may be found.
- Describe the risks to suppliers associated with each of the different types of contracts (fixed- price, incentive, and cost-based contracts)?
Critical Elements:
- Write your original response in Standard English, paying special attention to grammar, style, and mechanics.
- Respond to the questions in a thorough manner, following the prescribed format and citing your sources using current APA guidelines. Include a title page and reference page in your paper. Review the APA formats found in the Writing Resources accessed through the Academic Success Center within the Academic Tools area of the course.
- Ensure that your viewpoint and purpose are clearly stated.
- Demonstrate logical and appropriate transitions from one idea to another.
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