Description
Increase your leveraging potential and decrease potential risks when renegotiating contracts.Many business owners struggle with renegotiating vendor contracts even when changing these contracts is critical to the survival of the business. This presentation will help the people responsible for negotiating vendor contracts overcome their fear and attain the skills needed to effectively negotiate these contracts. This workshop is critical for business owners to avoid overpaying for products or getting stuck in vendor contracts that no longer suit the business’s needs.
Date: 2023-09-14 Start Time: End Time:
Learning Objectives
Communication
• Build Foundation
• Learn Vendor Language
• Maintain Credibility
Research – Do Your Vendor Homework
• Investigate Current Financial Condition of Vendor
• Determine What Is Important to the Vendor (Volume, Pricing, Time Intervals)
• Talk to Customers of the Vendor
Research • Do Your Market Homework
• Conduct Investigation Re: Current Pricing Models
• Get Quotes From Multiple Vendors
• Be Prepared to Pivot If Initial Strategy Doesnt Work
Hypotheticals
• Changing the Intervals of Vendor Delivery
• Changing the Price per Item
• Changing Volume of the Items Purchased
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,ISM ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Faye C. Rasch-Law Office of Faye C. Rasch
