Today’s episode is in response to a listener question. I was recently asked for guidance on how to maintain supplier relationships following a tough incumbent negotiation – particularly one that occurs mid-contract.
Listen in to hear my share five considerations that I have used both as a practitioner and service provider to maintain relationships with my suppliers and clients following difficult negotiations.
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“The typical scenario is that you sign a long term contract and things change where a mid-contract renegotiation is required. I’ve come away from those negotiations either with the relationship irrevocably harmed, or with a spirit of we are in this together.”
In this episode, you will learn:
- Five tips to maintain your supplier relationship after a difficult negotiation, covering:
- Trust
- Conditioning
- Optionality
- Red-tape
- Governance
Links and Resources:
- Subscribe to The Art of Procurement.
- Philip Ideson on LinkedIn.
Thanks for Listening!
