Homework: Vendor Management
Imagine that you have worked successfully with a Supplier X on past projects. Now you are deciding between competitive bids, and this Supplier X is one of the bidders. How would it affect your selection choice if you found out that a different project manager was to be assigned by Supplier X than was previously assigned to your projects? How would you proceed? Explain your answer.
Discuss why source selection can be a complicated process. Explain how the tools and techniques described in your text can help with this process.
Describe the two basic types of negotiation strategies and analyze the implications of choosing one negotiation strategy over another. Provide specific examples to illustrate your points.
Effective negotiation with co-workers, superiors, and business associates is a critical success factor in today's global workplace (Taylor, Mesmer-Magnus, & Burns, 2008). Learning to apply basic negotiation skills can help you navigate through the challenges and discover options that are acceptable by all parties. According to Wheeler (2006), many of the negotiation skills and strategies necessary for successful contract negotiation can be improved through study and practice. A poor negotiator can be taught skills that will improve negotiation performance. What are some of the basic negotiation skills that you need to effectively plan and administer a procurement contract?
According to an article in Contract Management, a magazine published by the National Contract Management Association (NCMA), a four-step checklist can help you achieve positive negotiation results (Your Four-Step Negotiation Checklist). The NCMA is a membership-based professional organization for contract management professionals that serves government and private industry.
According to the article's author, John E. Miller, the steps are:
• Step 1: Facilitate development of a negotiation plan, which includes the teams' key strategies, your position going in, and your desired outcome.
• Step 2: Lead the team in implementing the negotiation plan.
• Step 3: Adjust strategies and methods as needed during negotiations to achieve the desired outcome.
• Step 4: Facilitate homework of the negotiation team's activities.
Of course, these steps are not exhaustive and contract managers must recognize that each deal will have some unique aspects that may not be covered in the four-step checklist. For your homework, evaluate this checklist and provide your opinion on its value.
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.