2.5 Vendor Relationships – Negotiating Well

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Vendor Relationships - Negotiating Well - Buying Process

As part of your planning processes, think about all the equipment and materials you purchase throughout a year. Planning a yearly or multiyear agreement with suppliers is a key aspect of setting up your business plan, operating plan, prices, costs and generally having absolute confidence you know what is reasonable for you to be paying. Many contractors have discovered there are opportunities to buy from vendors. This section of best practices deals with the many aspects of working with vendors; the opportunities and the challenges, including negotiations.

Supplier Negotiations - Creating Win-Win Opportunities

In this best practice video we explore the need to negotiate with vendors and suppliers in order to ensure win-win scenarios for growth, profitability, marketing funds, and overall access to functionally available programs.

Run Time: 33:43

Negotiating Process and Planning

Learn the processes attached to effective supplier negotiations, and gain a deeper understanding of the negotiating process. This section includes information on the supply channel to make your business more prosperous and effective. There are many paths to success and your vendor relationships are critical to that prosperity, yet in many cases as contractors we are not in a position to have as many data points to have conversations that benefit our companies. Use the tools to improve your skills and information in your proactive discussions.