Buyers Meeting Point procurement by Kelly Barner

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Book Review: Mastering High Stakes Negotiations

AdobeStock_HSNegotiation

I cannot guarantee whether you will be successful after a well-prepared negotiation, but I can 100 percent guarantee failure or finding yourself outsmarted and in a concessionary position if you choose not to do a thorough prep prior to a negotiation.” (p. 38)

 

Mastering High Stakes Negotiations: Both Sides of the Table by Mark M. Bilgin, Ph. D. (BookLocker.com, 2017) is true to its title in that it lays out all of the considerations associated with the most critical, highest dollar value negotiations conducted. In an odd way, however, even meeting that high bar is still selling the book short.

If you are a people watcher, or a student of human behavior, you will absolutely love this book. I was immediately drawn in by the author’s use of case studies, both his own and the ‘outside’ experiences of others to illustrate in colorful but honest fashion the incentives and pitfalls associated with negotiation prep. Negotiation is, at its simplest level, the use of leverage, exchange, and (somewhat) predictable human behavior to bring parties together for their perceived benefit. As a result, you can not be a master negotiator without being aware of and interested in what people say and do. That may come as a great relief to anyone that still thinks negotiation is about aggressively dominating ‘them’ to get what is best for yourself at any cost.

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Webinar Notes: The Future of Procurement – The Human Challenge

Webinar Notes: The Future of Procurement – The Human Challenge

This week’s webinar notes are from a February 3rd webinar hosted by SAP Ariba and presented by Ed Cone at Oxford Economics and James J. McDonald and Luisa Gonzalez at COACH. The event is available on demand here.

 

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Blog Pick of the Week: Can I interest you in a game of cards?

Blog Pick of the Week: Can I interest you in a game of cards?

Our family loves to play all types of games – cards, board games, volley ball, croquet and so on. This summer we have played a good deal of cribbage. It keeps the ‘mental math’ gears going as well as developing the various strategies and approaches. Of course, sometimes it is just about the luck of the cards you are dealt.

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Book Review: The End of Competitive Advantage

Book Review: The End of Competitive Advantage

The End of Competitive Advantage by Columbia Business School Professor Rita Gunther McGrath provides a perspective on the way businesses should develop and maintain their strategy to remain competitive. Gone are the days when companies could achieve a leadership position in a market and then continue to dominate for decades without significant changes. Innovative companies develop products across traditional sector lines, making the industry-based model of competition assessment obsolete. McGrath advises defining competitive strategies based on arenas, which she defines as smaller market segments defined by consumer behavior and geography as well as the product or service being sold.

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Webinar Notes: Five Steps To Creating A Successful Procurement Strategy

Webinar Notes: Five Steps To Creating A Successful Procurement Strategy

This week’s featured event was hosted by Sourcing Interests Group and presented by Denali Group’s John Evans and Grant Dearborn. Their ‘Five Steps To Creating A Successful Procurement Strategy’ logically started with their working definition of strategy, one that is specific to procurement:

“[Strategy] Defines a plan for optimizing external spend, procurement operations and other value contributions in a manner that supports the overall corporate agenda.”

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Strategically Source Everything. Period.

This week’s eSourcing Wiki-Wednesday topic is Sourcing Success Enablers.  Under the Organizational Best Practices heading is a brief paragraph that gets to the heart of what all procurement and supply management departments need to stay focused on:

“As part of a supply chain focus, successful companies do not overlook indirect categories. Chances are some categories (such as office equipment, professional services, etc.) consume a significant part of the total organizational spend and will also benefit from a review. Strategically source everything. (Often strategic sourcing means outsourcing procurement of non-critical, low value spend, or commodity categories to external organizations that also follow strategic sourcing principles.)”

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Webinar Notes: ‘The Comprehensive Guide to Effective Vendor Management’

This week BMP attended Gartner’s webinar titled ‘The Comprehensive Guide to Effective Vendor Management’ with Research VP Helen Huntley. Below are our notes. The archived recording can be found here.

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