Purchasing and Supply Chain Management
6th Edition
ISBN: 9781285869681
Author: Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher: Cengage Learning
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Chapter 13, Problem 10DQ
Summary Introduction
To determine: The importance of concessions in sourcing negotiation and the way the parties demonstrate their willingness to compromise.
Introduction: Negotiation is the process, or skill required to build a better relationship. It is important for negotiating service delivery, legal contracts, lease, and sales condition.
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Read the passage that attached and answer the following questions. I am the SELLER in this situation.
What do you think that the most important issues are for your counterparty in the negotiation?
What do you think is your counterparty’s BATNA? Reservation price? Target?
What parts of the scenario work in your counterparty’s favor?
Read the passage that attached and answer the following questions. I am the SELLER in this situation.
What strategies will you be using in the negotiation? Do you want to make the opening offer? Why or why not?
What strategies do you expect to see from your counterparty? How will you prepare to meet those strategies?
Given your scenario, what other information is important for you to keep in mind while negotiating?
Why is it necessary to make compromises during a sourcing negotiation?
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- The process of negotiation between buyer and supplier inevitably raises some ethical tensions, given that the situation is often characterized as one of the two combatants coming together to do battle. Explain any five popular negotiating tactics, all of which can be challenged on ethical grounds.arrow_forwardWhy is negotiation necessary in international trade contracts?arrow_forwardRead the passage that attached and answer the following questions. I am the SELLER in this situation. Given your role, what are the most important issues in the negotiation? What is your BATNA? What is your reservation price? What is your target? What parts of the scenario work in your favor?arrow_forward
- Hi, please read the attachment and answer the questions below. I am the buyer in this negotiation. What do you think that the most important issues are for your counterparty in the negotiation? What do you think is your counterparty’s BATNA? Reservation price? Target? What parts of the scenario work in your counterparty’s favor?arrow_forwardWhat are some examples of acceptable versus taboo trade-offs in negotiation? How does the taboo trade-off principle operate within systems of sacred and secular values?arrow_forwardSuccessful negotiation relies heavily on the planning in the preparation phase. Procurement teams of HKTVmall identify and visit a surgical mask machine supplier in Taiwan. They negotiate with the supplier. (a) You, as a team leader, express your view of this assertion by explaining how you prepare for the negotiation in order to get the best out of the dealings with this surgical mask machine supplier. (b) Suggest the negotiation tactics that you will adopt when dealing with the supplier that does not have competition, or that has very limited competition.arrow_forward
- Will purchasing award a contract based on competitive bidding, negotiation, or a combination of the two approaches?arrow_forwardIn which of the following countries, you may prepare a less detailed business contract? Group of answer choices Denmark Ireland United Kingdom New Zealandarrow_forwardAnalyse which type of negotiation the South African organisation should engage in with its Chinese supplier.Identify the type of supplier relationship and justify your choice with the support of theory and application to the scenario and practical case study provided. Show knowledge through application and only theory is provided.arrow_forward
- List Five conditions of exchange?arrow_forwardWhat are some considerations people might have in a negotiation that are not necessarily monetary in nature?arrow_forwardElaborate the importance of Negotiation? Suppose you have to negotiate in car buying which points you should keep in your mind to make your deal effective?arrow_forward
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