Supplier Diversity

Creating Long-Term Supplier Relationships of Value Through Negotiations

Negotiating with a critical supplier can be turned into an opportunity to create value through a long-term collaborative strategic supplier relationship. The key is to get the partnership going on solid ground from day one of the negotiation process. — By Shaniqua Thomas

Negotiating with a critical supplier was once about getting the best price and concessions while hammering out an agreement. The hard work of developing a strategic relationship did not begin until after the purchasing agreement was signed. A better strategy is to employ best practices for managing the negotiation phase, with the end goal of creating a collaborative and productive supplier-buyer re....