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Procurement professionals are driven to negotiate savings. Because of that, we often focus on prices: historical prices, current prices, proposed new prices, price variances…
If we want to deliver maximum savings and value, however, we also need to be focused on our suppliers’ costs.
Today’s procurement professionals have amazing access to data, but not all data is suited for all purposes. When negotiating with suppliers, we have to discuss (their) costs in addition to (our) prices. Costs are more precise and can be used to make a more compelling argument at the negotiation table – partially because they are more closely tied to the supplier’s margins and profitability than prices are. The more supplier cost transparency we can achieve, the better positioned we are to negotiate not only lower prices, but also prices that are fair and sustainable for both parties. An emphasis on cost transparency allows us to simultaneously deliver savings, while improving supplier relationships.
By attending this webinar you will learn:
- How to create and use Cost Transparency to increase your leverage at the negotiation table.
- Why you should never enter a negotiation without first researching what has happened with your supplier’s costs.
- The connection between should-cost modeling and successful price negotiations.
- How you can covert sales reps into enthusiastic champions for your cause.
- How to make your supply chain an enduring competitive advantage for your organization.
Note: This 45-minute webinar is for procurement professionals whose job includes negotiating with suppliers. Registrants are welcome to register for a free trial of ProPurchaser in advance of the webinar by clicking here.