The zone of potential agreement (ZOPA) is an important concept when trying to figured out whether or not you stand a chance of getting a deal from the negotiation. Granted there are a number of aspects that will contribute to your success when negotiating but identifying the zone of potential agreement or ZOPA is key …
A practical look at the zone of potential agreement Read More »
Steps in tendering process will for the most part depend on the type of tendering process and what the organization intend to achieve. The first question we need to find an answer to before looking at the steps is what exactly tendering refers to. What is tendering? Tendering can be defined as; a purchasing procedure …
When it comes to legally binding agreement, the devil is often in the details. This is why it is important for one to understand the contractual terms, given that it is these terms that actually spell out the nature of the agreement. Do we need a fresh contract each time? Since drawing contracts can be …
Contractual terms are important and this becomes obvious whenever you define a contract. What is a contract? A contract is basically a legally binding agreement. The question is what exactly have you agreed to? In purchasing and supplies the agreement will for the most part depend on stakeholders’ needs, which is why you need to …
Successful negotiation means preparation and if, in fact, one succeeds in negotiation having had no prior plan, then that is an accidental result. That which cannot be duplicated with ease. What is negotiation? Negotiation is a discussion aimed at reaching an agreement. It can be looked at as a process through which parties move from …
4 factors for successful negotiations in business Read More »
Negotiation in sourcing process is important and the reason becomes so obvious once you realize that negotiation process presents an opportunity to actually get what you want. WHAT IS NEGOTIATION IN PROCUREMENT? Negotiation is a basic means of getting what you want from others. It’s a back-and-forth communication designed to reach an agreement when you …
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Ways to Increase your Profits through Value Chain or through any other way is one of those questions that you must have an answer to as a business person. Otherwise what you have is not business. In this post we are concerned with value chain specifically, what value chain consist of and how value chain …
Amazingly Easy Ways to Increase Your Profits through Value Chain Read More »
Purchasing and supply management is not an entirely new concept to most people. Take a look at the first part, purchasing. We all undertake purchasing, be it data for your phone, food, clothes etc. purchasing and supply management is one of those things you know hence you do not give it much thought. In business …
Purchasing and supply management important difference you must know Read More »
Procurement activities have led to the evolution of procurement from traditional purchasing and supply to what is currently the procurement profession. It has been mentioned that purchasing is reactive rather than proactive, transactional rather than relational, tactical instead of strategic, all of which are based on the traditional way purchasing and supply was looked, and …
Key procurement activities you must know for business growth Read More »
Advantages of tendering make it such that most organizations, as they grow, find the process appealing since it helps with the negotiations and transparency, if done properly. Say your organization needs new laptops, you can send someone to go and shop for such or you can invite suppliers to make you offers regarding such. The …
8 important advantages of tendering you must know Read More »
