Negotiations in Procurement
Negotiations can help to work out a deal and are critical in procurement. The concept provides a description of the main characteristics, business tools and critical success factors and will be useful for decision-makers and professionals involved in negotiations.
Negotiations in Procurement Definition
Negotiation is defined as a process of "communication with the objective of reaching an agreement by means, where appropriate, of compromise". A successful negotiation is one that accomplishes this goal (CIPS: Negotiation) and that secures supplies, materials and services of the right quality, in the right quantity, at the right time, from the right source and at the right cost (Zartman, 2008).
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Negotiations in Procurement References (4 of up to 20) *
- Bajari, P., McMillan, R. and Tadelis, S. (2006) Auctions Versus Negotiations in Procurement: An Empirical Analysis. Working Paper 02007. Stanford University, Department of Economics.
- Cisco IT Case Study (2007) How Cisco IT Improved Strategic Vendor Manaagement. [online] Available at: www.cisco.com/web/about/ciscoitatwork/downloads/ciscoitatwork/pdf/Cisco_IT_Case_Study_Vendor_Management.pdf [Accessed: 29 January 2012].
- CIPS: Negotiation.
- Clough, R. and Glenn S. (1994) Construction Contracting. New York: Wiley.
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