
Explore how negotiations yield different outcomes, from zero-sum win-lose to collaborative win-win, and learn when to apply distributive or integrative strategies to protect relationships and results.
Understand what makes a contract binding—offer, acceptance, consideration, capacity, and intention to create a legal relationship—and why written contracts reduce ambiguity and risk in procurement.
Explore the last document rule governing standard terms in procurement, assess price terms, the risk of loss in transit, rejection of nonconforming goods, and negotiate contract terms with suppliers.
Apply the supplier preferencing model by classifying customers into nuisance, exploitable, development, and core groups, then tailor strategies from pricing to long-term partnerships based on attractiveness and value.
Creation of formalized agreement is a critical part of business performance and revenue generation. When in business either as Buying or Selling organization Negotiating and Contracting is key and one has no choice but to be good at it. Success in this set will depend on your ability to turn a NO into YES and not just that, negotiate terms that favor YOU. The thing is, with contracts come issues such as conflicts over performance and costs, timing, and quality of supplies, hence the need to negotiate if one is going to achieve the kind of results they expect.This mini course gives a summary of the process and activities you will go through as you do your negotiating and contracting.