Attached.PURCHASING MANAGEMENT: NEGOTIATIONBy (Name)CourseProfessorThe Name of the UniversityCity and State of UniversityDateTable of ContentsIntroduction ……………………………………………………………………………………………………………….. 3Negotiation Overview ……………………………………………………………………………………………… 3“Must Have” Objectives ………………………………………………………………………………………….. 4“Would Like to Have” Objectives …………………………………………………………………………….. 4Pre-negotiation Stage ………………………………………………………………………………………………….. 5Defining Objectives ………………………………………………………………………………………………… 5Information Gathering …………………………………………………………………………………………….. 6Negotiation Tactics …………………………………………………………………………………………………. 7Shortcomings in the Research …………………………………………………………………………………… 8Post Negotiation Critique…………………………………………………………………………………………….. 8Additional Research in Negotiation Tactics that could have Been Employed ……………….. 10How Sellers Viewed the Buyers ……………………………………………………………………………… 10How Buyers Viewed the Sellers ……………………………………………………………………………… 11Conclusion ………………………………………………………………………………………………………………. 11References ……………………………………………………………………………………………………………….. 13Appendices ………………………………………………………………………………………………………………. 15Video Transcript …………………………………………………………………………………………………… 15Purchasing Management: NegotiationsIntroductionEvery purchasing and supplies executive should have the ability and competence tonegotiate dealings in their business’ interests. It is an opportunity to augment organisationalprofits and recognition. CIPs defines negotiations as “To communicate with the objective ofreaching an agreement by means, where appropriate, of compromise” (CIPS Knowledge,n.d). Meaning, face-to-face or electronic communication between two or more parties isnecessary to come to a mutual agreement about the issue being discussed (ACCA Global,2017). Thus, professionals are expected to research, plan, outline roles, set objectives,concessions, and fall back positions before engaging in an actual negotiation (Monczka et al.,2015). Even though competition in the market can weaken either party (supplier or buyer),CIPS indicates that professionals should aim for win-win outcomes though there is room forflexibility.Negotiation OverviewIn this particular purchasing negotiation, the product involved was the Miswaktoothbrush. Safaah International was the supplier while the Morrisons were the buyers. Eachside had two negotiators and the aim was to launch the product in the U.K market. Miswak isa natural toothbrush made from a specific tree known as Arak tree (Salvadora Persica); thathas been embraced for millenniums (7000 years ago) (Boymuminov, 2019). The product isnatural and does not need any toothpaste because it serves the purpose of a toothbrush andtoothpaste. It eliminates toothaches and tooth decay, kills harmful bacteria and germs, and isaffordable and effective (Boymuminov, 2019). This negotiation can be considered integrativebecause the buyer and the supplier got better deals at the end. Thus, this report will establishwhat went wrong, or what could have been added to enhance the negotiation of the product inquestion. The outcomes of the negotiations will align with the following objectives:“Must Have” Objectives1. To secure competitive prices for the product. The Morrisons focus was to maximise ondiscounts, product location on supermarket shelves, and shipping costs so that they cangenerate a higher turnover (Boymuminov, 2019). They aimed at discounts on the first andsubsequent batch of products, asked for specific percentage above base price on DAP orDPP for product delivery, and ensured the supplier insures the product to its finaldestination.2. To ensure the product meets ISO quality standards before purchasing. Britain’s consumerprotection laws are stiff (Boymuminov, 2019). Therefore, products should meet therequired standards set out by the local and international entities. It can also be anexcellent marketing strategy for the Morrisons.3. To ensure on-time product delivery. It is the responsibility of the buyer to ensure theproduct reaches the market and that is dependent on the supplier. Lateness causesfinancial and reputational losses for the buyer (Boymuminov, 2019). Thus, contractualsafeguards or consequences should be put in place to ensure the supplier meets a criticalfeature of th…
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