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A Buyer's Guide to Pricing Strategies: Tips for Getting the Best Deal

Get the best price for the most value when working with your vendors.

Are we paying too much? Is our technology falling behind? Is it time to shop? Do we need an RFP? In a marketplace full of disruption and competition, these questions can haunt business leaders. Failing to get the most from your dollars spent can steal profit and weaken product offerings. Yet the lowest price can mean compromising quality or excessive risk. This topic presents a comprehensive approach to buying, from the first steps of goal definition through vendor selection all the way to securing favorable terms and conditions. The objective is not simply paying the lowest price but capturing the most value to move an organization toward its goals. You will learn to define purchase goals and success metrics, and identify benefits that will open up more options and provide negotiation strength. The information will explain how to find disruption and innovation in the marketplace to avoid investing in outdated solutions. A complete step-by-step sourcing process will be presented along with 45 purchasing tips for use with an RFP, RFQ, or structured sourcing process. You will also receive negotiation guidance, including conversational templates and plug-in scripts to use with vendors.

Runtime: 99 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Defining the Best Deal

  • Avoiding Bad Deals
  • Focusing on Value: Defining Goals and Defining Currency
  • Rejecting the Wrong Price Anchors and Defining Your Benefit
  • Connecting Every Purchase to a Purpose
  • The Difference Between Buying Resources and Results

Disruption and Innovation

  • The Difference Between Solutions, Vendors, and Prices
  • Borrowing Expertise Through Benchmarking Conversations
  • Five Ways to Find More Options

Sourcing Process

  • Leading Your Team Through a Structured Buying Process
  • The 12-Step Process for RFPs and RFQs
  • Controlling Communication: Internal and External
  • Giving Vendor Feedback That Will Improve Your Deal

Wrap up and Check out

  • Questions to Always Ask Vendors
  • Reviewing Contract Terms and Conditions
  • Value Conversation: A Template for Collaboration
  • The One-Vendor Negotiation
  • Review: 45 RFP Top Tips
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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on June 28, 2018.

Call 1-866-352-9540 for further credit information.

  • ISM 1.5
     
  • Participants who successfully complete this program will receive 1.5 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Jack Quarles

Jack Quarles

Jack Quarles

  • Three-time Amazon #1 bestselling author; winner of three North American Book Awards and the 2018 Independent Press Award for Leadership; books translated into Chinese and Korean
  • Negotiation trainer in Europe and U.S. Trained companies including Harley-Davidson, Safeway, NIH, Tiffany & Co, College Board, Foot Locker, Kimberly-Clark, as well as hundreds of smaller companies
  • As expense management consultant, has saved companies tens of millions of dollars including 7-figure savings in Marketing, Information Products, Software, and Services
  • Negotiated multiple outsourcing projects, leading to cost savings and better performance
  • Co-founded Expense Management company Xigo, sold to Dimension Data
  • Chairman of the Board of Peacemaker Ministries, international nonprofit focused on conflict resolution and litigation avoidance
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 396611
Published 2018
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