Homework: Negotiations and Contracts
This homework will assess your knowledge based on the following Outcome:
Discuss the mechanisms of creating and establishing formal relationships with vendors.
Instructions
A successful negotiation is a complicated process, which requires research about the other side, preparation on how key elements that may be negotiated rank in significance for the company and what sorts of risks exist. In this homework, you will analyze these elements.
1. Items negotiated in a sourcing negotiation are not limited to just price. Describe three non-price issues that may be negotiated. Explain how each may impact the discussion on price and how each may impact the buyer and the seller.
2. What are some key pieces of information that a buyer should gather about a potential supplier before entering negotiations? List at least three, including where this information may be found.
3. Describe the risks to suppliers associated with each of the different types of contracts (fixed- price, incentive, and cost-based contracts)?
Critical Elements:
1. Write your original response in Standard English, paying special attention to grammar, style, and mechanics.
2. Respond to the questions in a thorough manner, following the prescribed format and citing your sources using current APA guidelines. Include a title page and reference page in your paper.
3. Ensure that your viewpoint and purpose are clearly stated.
4. Demonstrate logical and appropriate transitions from one idea to another.
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.