DISCUSSION: Price
Please respond to the following:
• Explain what would you do when your longtime supplier will not lower its current prices. Assume that this supplier provides the best product/material that you need.
• Discuss when you would always select suppliers/bidders based on price. Assume that all bidders are similar in quality and services, why and why not?
• Describe how one can engage a supplier in a negotiation with a price expectation. Relate your experience in purchasing a car, for example. Provide at least two scenarios to your explanation
DISCUSSION: Cost Management
Please respond to the following:
• Describe three key concepts you consider most important in the total cost of ownership.
• Describe how price discounting would influence the understanding of purchasing as a profit center.
• Explain what and how a small business can apply and benefit from the strategic cost management. Give at least two examples.
• Describe one of your business negotiation experiences. Explain how your negotiation impacted directly and/or indirectly to the profit and/or the expense of your company or organization. If you do not have business negotiation experience, describe one business negotiation experience you observed or learned about.