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NEW!!! Legal Negotiations

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Because supply management professionals must ensure that contracts protect the interests of their organizations, the ability to understand and negotiate contracts is a key skill. Negotiating successful contracts requires a working understanding of the negotiation process and legal terms and conditions. Learn a step-by-step process for preparing, planning and conducting a successful contract negotiation. In addition to exercises, case studies and real-world examples, this seminar provides an opportunity to practice what you've learned through developing a negotiation strategy and conducting a contract negotiation.

Who Should Attend

Experienced purchasing and supply management professionals who desire to build or improve legal negotiation skills and techniques that are critical in the competitive marketplace. Participants should have fundamental knowledge of negotiations, business contracts, purchasing law and the UCC prior to attending this seminar. Suggested prerequisites: Contracting: What All the Ts and Cs Mean (formerly Contracting Basics: What All the Ts and Cs Mean) and/or Legal Foundations of Supply Management: The Basics You Need to Succeed (formerly Legal Aspects of Supply Management), and/or Power Negotiations: Unlock Your Powers of Influence and Persuasion.

You Will Learn...
  • To negotiate the legal terms and conditions of contracts
  • To identify the underlying interests of all parties and develop solutions to meet all parties' interests
  • Elements of effective and ethical legal negotiations
  • How asking questions and listening to your counterpart leads to an effective negotiation
  • How to negotiate difficult contract elements
  • How to terminate a contract
You Will Earn...

14 continuing education hours

Course Outline
  1. The Strategic Planning Process
    1. Planning Focus
    2. Establishing Partnerships in a Contract Environment
    3. The Changing Role of Suppliers in the New Procurement Era
    4. Win/Win vs. Win/
    5. There is no negotiator quality
  2. The Five-Step Negotiation Process
    1. Crafting the Opening Position
    2. Establishing the Opening Price/Cost
    3. Finding the Range
    4. Reaching the Agreement
    5. Rating yourself as a negotiator
  3. Elements of Reaching an Agreement
    1. What can you negotiate in a contract?
    2. A little change in contract language can make a world of difference.
    3. International considerations
    4. Technology and the contract negotiation process
    5. Contract review and negotiation exercises
    6. Practical problems in the contract negotiation process
    7. How to negotiate your contract.
  4. Ways to Reduce Risk
    1. The Designated Listener
    2. The Attorney's role in the Negotiation Process
    3. Who really represents the supplier?
    4. Information, Power and Warranties
    5. Does the Contract reflect your Deal?
  5. Planning for Negotiations
    1. Exchanging Information and Confidentiality Agreements
    2. Expanding the Pie, Long Term vs. Short Term Agreements
    3. The Role of the Purchase Order and Phone Orders
    4. Dealing the Agency Issues
    5. World Class Negotiation Requirements
  6. Practical Negotiation Techniques
    1. Recognizing Smoke Screens
    2. Dealing with Sales People
    3. Modes of Negotiations
    4. Tailor your Negotiation Style Fit the Supplier
    5. Avoiding a Deadlock
    6. Should you enter into a "bad" contract?
    7. Determining your negotiation style
  7. The Contract Negotiations Workshop

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