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Slightly delayed, but here it is! Supernegotiate case study into strange pricing models of Procurement technology! Even an iPhone (same model) costs less year on year, but Procurement Technology providers, who provide fairly basic technology given the 2024 era, still increase their pricing yearly!Supernegotiate goes into this rabbit hole to attempt to dig out a few reasons! Dive right in!
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Do you also have too many types of Cost Models in Procurement? Do you even track the various cost models and their impacts? I
f not, this video will be interesting for you. The latest episode of the Big Bold KPI series is here. KPI 06: Cost Model Consolidation and InnovationDive right in! I am talking about the importance of simplifying cost models and having an approved cost model to be used in negotiation playbooks. Rather than allowing suppliers to propose new ones every time!
This video is part 6 of my Big Bold KPI series for CPOs.
For more good reminders on best practices, ask your HR or e-Learning provider to integrate these videos into your procurement ecosystem. It's free. Supernegotiate
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Fehlende Folgen?
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Your Morning Commute Procurement Podcast is here!
Excerpts from Supernegotiate YouTube series on negotiation techniques on how to become more effective negotiators. I and Ai (:-P) have summarized multiple videos in a tiny segment to discuss strategies such as "labeling," which involves acknowledging and addressing the other party's potential concerns to establish trust, and "mirroring," which involves repeating the other party's last few words to demonstrate active listening and gather more information. @supernegotiate also emphasizes the importance of using silence strategically to allow the other party to process information and avoid premature explanations. Dive in
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Get ready to negotiate like a pro! "Mastering Procurement Negotiations T-Minus 60" is your countdown clock to becoming a strategic negotiator in the fast-paced world of procurement. This podcast, inspired by SuperNegotiate's YouTube series, arms you with actionable insights and insider tips to secure the best deals for your company.
Each episode counts down the days, getting you prepped and ready for your next big negotiation. We unpack proven strategies, revealing the tactics used by seasoned negotiators.
Join us as we dissect critical negotiation stages, including:
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T-Minus 60 to 58: Before you even send that RFP, understand your objectives. Are you looking for a simple cost reduction or a complete vendor overhaul? We'll guide you through identifying your goals, analyzing your leverage based on spend growth, and uncovering potential weaknesses in your position.
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T-Minus 57 to 56: Knowledge is power: decode the dynamics of RFP win ratios, response times, and market intelligence. Discover how to leverage this information to tip the scales in your favor.
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T-Minus 55: Don't overplay your hand! Learn to identify your role in the negotiation process, understanding your decision-making authority and avoiding common pitfalls.
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T-Minus 54: Time to gather intel! We'll show you how to initiate those crucial first conversations with suppliers, tactfully extracting information about their strengths and weaknesses. Discover how to identify potential red flags like recent awards, market share shifts, and even whispers of labor strikes or export restrictions.
This podcast is your secret weapon to:
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Project unshakeable confidence at the negotiation table.
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Unlock better pricing, terms, and conditions that save your company money.
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Build lasting and mutually beneficial supplier relationships.
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Become the go-to expert for negotiation strategy in your organization.
Subscribe now and start your countdown to negotiation mastery!
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And Supernegotiate is back with Big Bold Modern KPI series. We are now at KPI 05 - Supplier Management.Everybody talks about it, but very few are progressing beyond delivery time measurement KPIs.Want to know how entrepreneurial CPOs are redefining Supplier Management? And I am not talking about another tech platform here..Dive right in.
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Big Bold KPI Series: KPI 04 is here! Scope 3 Management.
Continuing the series, Supernegotiate shares my thoughts on Scope 3 Management KPI.
Most organizations are starting to manage how to measure and manage Scope 3 KPI. The traditional approach favors measuring activity level carbon emissions data and introducing measures to reduce it.
However, a better approach is enforcing the use of Green Energy instead! More about Scope 3 new KPI in this video!
If you have not been following this series, I started Big Bold KPI series last month. Introducing a 5-part video series. BIG BOLD KPIs for CPOs. These are my top 5 KPIs, which I think, we must embrace, to enable a meaningful Procurement transformation in the current hype of "Ai" / "Digitalization".
Each KPI video will be 5-7 minutes long, hence, perfect for your car commute podcast or while you sip your coffees.
Available on Linkedin, Spotify, Apple Podcast, and Youtube!
I'll leave the link of previous episodes in the comments!
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#BigBoldKPIs series is here! Supernegotiate is introducing new-age Procurement KPIs, and we are at our 3rd KPI today. I recently wrote about How Mediocrity in Procurement now hides behind GenAi. Going deeper into that thought, I think how we "evaluate the success of Digitization in Procurement" needs radically new metrics. Stop doing this immediately - Running after "Adoption" or "Use Based" metrics to prove your shiny tool works - Visibility of Information amongst sea of a thousand of dashboards - Months and Months of Change Management I have proposed some new ideas in this video. Let me know your thoughts. I want to share these tips (on spend analysis, negotiation, procurement excellence, and more) during the action (when your category managers are in a transaction). So, ask your platform providers to integrate Supernegotiate content into your platform feed directly. I am not charging anything; it's free! Force them instead to do this for you.
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KPI 02 in Big Bold KPIs series:Continuing the series of defining New Age KPIs and moving away from typical old KPIs in Procurement, the time has come for Cycle time to be phased out.Supernegotiate recommended that instead of a cycle time KPI, define the Time of Market (or Speed of Market) KPI for Procurement. More on this in this short video. Again, traditionalists can easily dismiss these ideas but don't complain about Procurement not getting a seat at the table. More on this in my next blog article (coming out on Monday).
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Introducing a 5-part video series. BIG BOLD KPIs for CPOs. These are my top 5 KPIs, which I think, we must embrace, to enable a meaningful Procurement transformation in the current hype of "Ai" / "Digitalization".
Each KPI video will be 5-7 minutes long, hence, perfect for your car commute podcast or while you sip your coffees!
Starting with the first one, do we need a Savings KPI in 2024?
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🚀 From Cost Center to Revenue Generator: Transforming Procurement Centers of Excellence! 💰💡 Can Procurement Center of Excellence setups become a Revenue Generation Centre? YES! 🌟In this a bit usuual video, I'm unveiling 10 game-changing ideas to supercharge your Procurement CoE's financial prowess! 💡🔥 5 are your classic, go-to strategies, but hold on, because the next 5 are absolute curveballs! 🤯💰 It's high time for CoE setups to fund themselves, and it's time for CPOs to realize how much potential revenue is slipping through the cracks. I've distilled the essence of these 10 ideas for you! 💸📅 Mark 2 of these as your projects for 2024 and watch your Procurement CoE soar! ✈️ Stay tuned for a detailed blog post coming your way soon!📥 Want to chat about this revolutionary transformation? Slide into my DMs! 📩 Share your experiences if you've already embarked on this incredible journey! 🗣️#ProcurementRevolution #RevenueGenerator #Supernegotiate #Sourcing #SupplyChain #ProcurementCOE #CentreofExcellence
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Ladies and gentlemen and welcomeback to SUPERNEGOTIATE. It has been quite a while since we last interacted. Now, I have been busy putting together a new series forus and this time I will be covering case studies. Case studies from the biggest procurement mismanagement and fiascos from the best and biggest organizations in the world. For the first one, I have for you the fiasco done by the Defence Procurement Department of UK. Chapters The program name Ajax. The budget size is 6.5 billion pounds.And the reason I picked up this as the first case study is this is Procurement 101 in What You Should NOT DO And How You Should NOT handle a procurement contract of this big size. What could have gone wrong has almost gone wrong in this horribly managed program. We have cases of design complications, we have cases of poorest schedule management, supplier performance management, communication gaps, cost overruns and poor contract negotiation skills. And to top that off, the budget overruns without any estimate and poor SLA management. And we are just barely scratching the surface.
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And I am back with my new podcast on Sales Techniques used against Procurement buyers in Negotiation! In my last podcast, I shared the first 3 tips for sales techniques commonly used by sales teams against procurement buyers. Now, in this final podcast of the series, I'm sharing the last 2 tips to help procurement teams be aware and prepared for these tactics. As a Chief Procurement Officer, it's crucial to train your team to be able to detect and counteract these sales techniques. There is no need for expensive training etc.
It is 2023, and there is so much content available online already! Use it. So, on your next offsite or Friday noon catchup, could you ask your team to spend 1 hour reading about negotiations or listento the content I am putting in every week?
If the video format is required, it is available on youtube/supernegotiate. Search "Supernegotiate" and you should be there!
Seriously, what's your excuse again for not upgrading yourself in 2023?
ps: If you want to share your experience or have a chat on Procurement (Spend analysis, Negotiation, Challenges in 2023 and Digital transformation), I'd love to feature you on my next vlog. Connect with me on Linkedin at Supernegotiate me.#procurement #negotiation #suplychain #sourcing #negotiationskills #supernegotiate
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Are you tired of falling for sales tricks during the procurement process? Want to learn how to avoid getting duped and make smart purchasing decisions? In this video, I'll reveal 3 of the 5 tips for savvy buyers to stay one step ahead of salespeople and protect your organization's bottom line. From understanding common sales tactics to conducting thorough research and negotiating effectively, these strategies will help you make informed decisions and avoid being taken advantage of. Whether you're new to procurement or a seasoned pro, these tips will help you navigate the sales landscape and make smart, cost-effective choices. Keywords: avoid sales tricks, procurement, savvy buyers, protect bottom line, common sales tactics, thorough research, negotiating skills, informed decisions, cost-effective choices, navigate sales landscape, smart purchasing decisions.
Do you want to learn more about Procurement and Spend Analysis? Buy my book here on Amazon. https://shortest.link/aRGd
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Last part of my Become a Master Negotiator series. In this new series, I will teach you my top proven negotiation techniques as a buyer. Most of these techniques are either learnt as my experience as a category manager or through various books such as Never split the difference by Chris Voss.
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In this new series, I will teach you my top proven negotiation techniques as a buyer. Most of these techniques are either learnt as my experience as a category manager or through various books such as Never split the difference by Chris Voss.
Jump right in!
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In this last episode of the top 10 issues during negotiation, I have discussed seven more cognitive biases that even most experienced procurement professionals experience.
Watch out for number 8 and 9 th!
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In this episode, I am speaking about Sunk Cost and Anchoring Bias,
Often, many negotiators will feel the burden of effort required to restart the negotiation, especially when the negotiation process has been going on for a while!
Tune in to listen more on this.
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I have been reading about cognitive biases in Negotiations. We all are affected by the information and environment during any sourcing negotiations. Our "liking", "understanding", or even "perception." about suppliers or prices/discounts changes throughout the multiple rounds of negotiation.
These misconceptions are what we call cognitive biases. So, I decided to make a series of videos on this topic.
But Instead of one long podcast, I will release 4-5 short ones to keep it simple!
Here is the first one! One of the most common biases - Anchoring bias. Usually, the first piece of information we hear sets the tone or, worse, "baseline" for further rounds of negotiation.
Weak negotiators will then focus on making only incremental changes on the first anchor offer (like 30% discount / 50% discount etc.) and hence over relying on this! I have shared my opinion on how to keep yourself in check or handle the Anchoring bias in a negotiation!
Follow supernegotiate on Youtube and LinkedIn for more such content!
