SUPPLIERS GUIDE Top tips
THE BIOMEDICAL SCIENTIST
TOP TIPS 01
Expect the best
High expectations generally lead to higher outcomes. Anyone going into a negotiation should do so with the aim and assumption that they will be able to leave the table with the result that they wanted.
Never set a range
When negotiating on price, never give the seller the price range you were hoping to secure. For example, if you say your expenditure has to be somewhere between £8,000 and £20,000, the seller will just aim for the higher ﬁgure.
Make the first offer
Research from Harvard Business School demonstrates that, on average, the person who makes the ﬁrst offer in negotiations is person who gets nearest to their intended outcome. The theory behind this is that the ﬁrst offer provides an anchor for negotiations. So, if you put in the ﬁrst offer (a low anchor)
TOP 6 BUYING TIPS Negotiating the best outcome can be tough for anyone involved in procurement. Here are some top tips to bear in mind. this creates the context for negotiation.
Listen more than you talk
The goal of a negotiation isn’t just to get what you want, but also to help the other side to get what they want. If you don’t listen to the person you are negotiating with, then you
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can not understand their aims and it is unlikely you will be able to reach an agreement with which both parties are happy.
It is important to stick to facts and not let emotional arguments steer negotiations in an unintended direction. It is easy to fall victim to these when under pressure, so stay calm and remain objective.
Don’t just focus on cost
Cost is a vital (arguably the most important) aspect of negotiations to procure goods or services. But it’s not the only thing to take into consideration. For example, if you are buying an expensive piece of equipment, it could save money in the long run to pay more up front, if a better after-sale services is provided, which ensures you get the best use and value from the equipment.