A Tsunami Of Supply Chain Costs

There is a Tsunami of cost escalations heading our way along our business supply chains and we had better PREPARE and PRACTICE our negotiation skills if we are to come through the other side.

Many of these costs have a lag period which, if there is a “Silver Lining”, provides you a slim period to prepare how to deal with these effectively.  But not every company is fortunate to have this time and a large number of companies are, perhaps, failing to prepare.

At some point letters and emails must be substituted by personal dialogue, either on the telephone or through video conferencing.

There is plenty of advice out there about how to plan for your negotiations but perhaps there is a greater need for personal ‘mindset’ and practice.

Have you given your teams time to practice for these negotiations? Don’t assume anything. Consider the following:

  • How are they going to start the conversation?
  • What questions will be used to identify key items of information, about the other parties situation, that you need in order to address the challenges affecting your business?
  • Will the tone, to be used, be confrontational or collaborative?
  • What levels of confidence do you have about the outcomes?
  • What will you trade that has value to the other party but does not deviate from support of your business goals and at what point will you suggest these?

Remember, it’s not enough to just know what YOU want in the negotiation!

Negotiation is a personal interaction between people and, as such, you must be especially practised in the most appropriate methods of negotiation ‘conversation’.

You will need PREPARATION & PRACTICE if you are to achieve a successful outcome in the face of such challenging circumstances.

The community of the TNC are behind you so … just ask.


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