Guide To International Negotiation Planning
By Charles Dominick, SPSM, SPSM2, SPSM3
Tips From The Purchasing Expert Panel
This article is our second in a series featuring a "Purchasing Expert Panel" - experienced individuals who share their insights to help you became a better purchaser. Next Level Purchasing posed this question to the panel: "What should a supply manager do differently when preparing for international negotiations compared to preparing for domestic negotiations?" Here are the panel's responses...
"All negotiations require clear objectives, a well thought out strategy, and a plan for implementing the objectives and strategy. When preparing for international negotiations the supply manager should give careful thought to the culture of the other party, the implications of cultural differences for his/her negotiation strategy and plan, and the implications of international currency exchange rates. The supply manager should also recognize that cross-cultural negotiations may take much longer due to differences in language, culture, and business practices."
"There is one truism in negotiations and that is that the side that plans and prepares the best, wins. If the supply manger does a good job preparing for negotiations domestically then besides learning local customs and culture there is not too much of a difference in preparation for international negotiations. Unfortunately too many supply managers do very little preparation for negotiations and as a result give much more than they get. Just as in domestic negotiations, for international negotiations it is important to:
Do You Want a More Rewarding Procurement Career?
Are you tired of not getting enough opportunities, respect, and money out of your procurement career? Well, guess what? Nothing will change unless you take action towards becoming a world-class procurement professional.
Earning your SPSM® Certification is the action to take if you want to bring the most modern procurement practices into your organization and achieve your career potential. Download the SPSM Certification Guide today to learn how to get started on your journey to a more rewarding procurement career!
Need Better Performance From Your Procurement Team?
Are you a procurement leader whose team isn't achieving the results you know are possible? Maybe it's not enough cost savings. Or frustrating performance from the supply base. Or dissatisfied internal customers.
You need a performance improvement plan that's easy to implement and quick to produce results. The NLPA can help.
Download our whitepaper "The Procurement Leader's Guide To A More Successful Team." You'll learn the 7 steps for transforming your staff into a results-producing, world-class procurement team.
Are You Getting The Most Out of Your NLPA Membership?
Members of the NLPA get more than just articles like this by email. As a member, you also get access to:
If you haven't been taking advantage of these benefits, why not log in and start now?
Copyright 2004. This article is the property of Next Level Purchasing and may not be copied or republished in any form without the express written consent of Next Level Purchasing.
Click here to request republishing permission.