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Procurement Zen - Valuable Insights in Negotiation and Procurement
14 minutes | 5 months ago
Persona Negotiation Guide - 032
In today's episode we have once again a negotiation guide. This time we focus on personality types using the DISC model. As always, if you want further information, head over to procurementzen.com/032 Episode Highlights Everyone is different and we need to honor that What stories do we tell which kind of negotiators The 4 main personality types in DISC: Dominance Influence Steadiness Conscientiousness Dominant types (or high D's) → these people love to win. They apply force on others, sometimes not really caring about their needs and are very direct Influence types (or high I's) → these people really talk a lot. You feel their enthusiasm and patience Steadiness types (or high S's) → people with a high S, enjoy collaborationa and wnat to maintain the peace and finally Conscientiousness (or high C's) → these are people that favor accuracy above everything else and want to gain knowledge Key Points You must accept that people are different to win in negotiations Tailor your procurement message to the corresponding personality type (it's about them not YOU!) DISC gives an easy way to quickly determine who you're dealing with Resources https://www.procurmentzen.com/032 DISC in Wikipedia
19 minutes | 6 months ago
Procurement & AI - Interview with Martin Rand Pt. 2 - 031
This is the second part of an interview with Martin Rand; CEO and co-founder at pactum (www.pactum.com). We continue our discussion on how we can benefit from AI to meet our procurement goals. Martin also makes a very special deal for all you listeners at the end of this episode. Episode Highlights Martin provides further insight on how AI works and in what ways it can benefit us to meet our procurement goals Why is this global pandemic the best time for procurement people to make strategic considerations? Phil and Martin discuss different negotiation strategies and schools of negotiations and how they are integrated in AI Martin shares his companies success rate Martin announces a very special deal for the audience! Key Points AI is not the next bidding platform, but its the very much needed in procurement. Strategic considerations need to be made during this crisis because right now ensuring deliveries is more important than squeezing some extra money from suppliers AI managed negotiations are in many ways better than negotiations done by humans for example AI can test all of the strategies and approaches and choose the best one. Resources Mentioned www.Procurementzen.com/031 Martin's medium article: https://bit.ly/2AfCwCZ www.Procurementzen.com/pactum
25 minutes | 6 months ago
Procurement & AI - Interview with Martin Rand Pt. 1 - 030
In today's episode, I interviewe Martin Rand; CEO and co-founder of Pactum (www.pactum.com). Martin not only has vast experience in negotiations, but he also shows how Machine learning and AI can help in negotiations. We go over the hot topic "digitalization in procurement". Martin, being the CEO of a company that offers AI solutions in negotiations, has a lot to share in this regard. Episode Highlights Phil introduces Martin Rand Martin shares with us his experience in the field of negotiation Martin tells us about his company "Pactum" and what it does Understanding what a pareto efficient deal is, why is it important to be on the pareto optimal line? How was the idea of AI deal optimization born? What is the process of AI negotiation and how does it work? Key Points Human negotiated deals will always remain because human ingenuity is needed in large and strategic deals. AI negotiating is mostly useful for large enterprises where many deals are un-managed. Every negotiation should aim for a Pareto optimal outcome.
26 minutes | 6 months ago
Interview with a Procurement Expert (Part 2) - 029
This is the 2nd part of the interview with Joachim Scheurich, who is a well-seasoned procurement expert. In the light of his vast on-field experience, Joachim shares with us the role of procurement during crises situations. Major focus of this part of the interview is on changing environments in procurement. Episode Highlights Understanding procurement in relation to crisis Looking at procurement holistically ; how it not only contributes to the commercial position of a company, but also its overall image Joachim answers the question "what will strategic procurement in the future be like?" Understanding "digitalization" in terms of procurement Who are the most important stakeholders in a company? Key Points Change in environments, like situations of crisis or digitization, does impact procurement, but the core foundations and objectives of procurement always remain the same. Certain tools help to make procurement work in specific departments faster and easier, that does not mean every department should jump on it. Our own people are the key, without them procurement success is not possible. Resources https://www.linkedin.com/in/joachim-scheurich-cpsm/ https://www.ProcurementZen.com/029 www.SellMoreIdeas.com
26 minutes | 7 months ago
Interview with a Procurement Expert (Part 1) - 028
In this episode, I interview Joachim Scheurich, who is a well-seasoned procurement expert. Joachim shares his profound experience in this field and shares out of public view of the field. He shares with us, how he started and how he grew in his role. You will hear a lot about great relationships and focusing on your customers. Episode Highlights Phil Kowalski introduces Joachim Scheurich Joachim Scheurich shares his experience in procurement Joachim Scheurich shares his view on what challenges strategic procurement has to face Why is "seat at the decision table" important? As an enterprise it is crucial to know any changes in term to avoid embarrassment How can strategic procurement benefit an enterprise especially during the wake of the current covid-19 crises? What lessons can we learn from current crises & how can we apply them in future situations? 3 Key Points Curiosity is very important in any job including strategic procurement. Having no seat at the decision table means not being recognized in the executive pecking order? There is a lot you can do inside the procurement function if you are with the right company, if you are mobile and if you remain curious about what's out there. Resources mentioned ProcurementZen.com ProcurementZen.com/028 SellMoreIdeas.com Joachim Scheurich on LinkedIn
19 minutes | 7 months ago
Quarterly Podcast Review - What I've Listened To - 027
In this episode of ProcurementZen host Phil Kowalski provides a brief overview of various podcast episodes that can benefit both negotiators and buyers stemming from the Procurement Talk with David Byrne, Art of Procurement podcast with Philip Ideson, and Sourcing Industry Landscape with Dawn Tiura. Episode Highlights Procurement Talk with David Byrne Series 3 Episode 5 - Communicating the Narrative focuses on clarity. Art of Procurement Episode 290 covers the value of digital procurement with a strong focus on the manufacturing sector. Artificial monopolies are never a good thing. Mobile IT systems are getting more attention in the B2C space. Sourcing Industry Landscape with Dawn Tiura episode called ‘A Procurement Leader’s Guide to Working Strategically with Finance’ with Coupa’s CFO Todd Ford and risk management expert Linda Tuck Chapman. Having an appetite for risk is discussed as a more holistic approach. Automation can free up resources so risk can be focused on. 3 Key Points Visuals work up to 60,000 times better and faster than a written word. Repeat your message multiple times, and then repeat it again. The 2008 recession made risk management more apparent with governmental regulations. Resources Mentioned Ask me anything: ProcurementZen.com/Ask SellMoreIdeas.com Procurement Talk with David Byrne: procurementtalk.com Series 3 Episode 5 Art of Procurement podcast with Philip Ideson: Episode 290: artofprocurement.com/episode290 Sourcing Industry Landscape with Dawn Tiura: sig.org/procurement-leaders-guide-working-strategically-finance
55 minutes | 7 months ago
Interview with Alex Carter - Ask For More - 026
In this episode of ProcurementZen - Valuable Insights in Negotiation and Procurement, host Phil Kowalski interviews Alexandra Carter, Director of the Mediation Clinic at the Columbia Law School a seasoned mediation expert and author of the book Ask for More: 10 Questions to Negotiate Anything. Alexandra Carter talks about her book, the 10 questions that are covered in the work, advice she has learned in her experience, and the power of knowledge and preparation. Episode Highlights Why did Alexandra Carter write her book Ask for More: 10 Questions to Negotiate Anything? Why does she believe that questions are tools that are often neglected? Understanding what you want as an outcome is part of the knowledge needed for negotiation preparation. Take negotiation one step at a time instead of focusing on rigid choices. What are the pros and cons in negotiation? People falsely assume that procurement is easy and ‘everybody could do this.’ Being open and clear up front is important in negotiation How can we get better at preparation? Body language tells you a lot. Do approaches to negotiate change when you get to higher professional levels? Organizations are just large groups of people. Steering relationships need to happen effectively and honestly. Silence is important for both negotiation and relationship building. 3 Key Points The best negotiators know that their great source of strength in negotiation is knowledge of yourself and the other person. The first 5 of the 10 questions in Alexandra Carter’s book are ‘mirror questions,’ questions that you ask yourself. Transparency is the better way to negotiate. Resources Mentioned ProcurementZen.com SellMoreIdeas.com Alexandra Carter’s Website: alexcarterasks.com Alexandra Carter’s Social Media: Linkedin Book: Ask for More: 10 Questions to Negotiate Anything by Alexandra Carter
14 minutes | 7 months ago
Negotiation Techniques Pt 7 (Storytelling & Acting) - 025
In this part of the ultimate list of negotiation techniques,we go over one of my most liked negotiation techniques “storytelling and acting”. We cover twelve powerful techniques that involve telling stories and acting to get the most out of your negotiation. Each technique is explained in depth with scenario examples. Some of these techniques can be combined with each other or with techniques we covered in the previous episode to construct a stronger impact. Episode Highlights How to catch attention using subtle slides? How acting dumb can prove to be helpful when negotiating? Using psychological tactics to make them think it's not worth breaking a deal? Understanding to use aggressive techniques like insulting and fuming Using excuses against dominant personalities Understand how to build an irrational line of arguements and connect them to cause confusion How to get most out of a contract using complaining in a professional way? Reminding your counterpart to stay consistent How to over-dramatize a situation and achor a tiny unfavorable demand with it to make a negotiation favorable for you? Focusing on the role of the decision-maker and using their ego to your advantage. How to use social proof to sound more credible? How to bait the counterpart with awards to your advantage. Key Points You have to be a real good actor to use "playing dumb" technique. Use techniques like "No way back" and "complaining" late in the process Be careful using techniques like Insulting and fuming, use them appropriately Resources Mentioned ProcurementZen.com ProcurementZen.com/025 SellMoreIdeas.com
15 minutes | 7 months ago
Negotiation Techniques Pt 6 (Listening Techniques & Physical Approaches) - 024
In this episode of I break down the second to final episode under negotiation techniques into two categories. These categories are Listening Techniques and Physical Negotiation Techniques, both of which have their own sub-categories. I recommend selecting the particular technique that works best depending on the situation and what the negotiator aims to achieve. Or even combine two or more techniques when it’s deemed necessary. Each technique is explained in depth with scenario examples. Episode Highlights What does Speed of Speech help the negotiator to uncover? Inactive Listening works as a good pattern interrupt What is Listening by Selection more familiarly known for? What does everyone say about Active Listening? How does Competitive Listening differ from Active Listening? What is the main purpose of Combative Listening? Why is Passive Listening an aggressive type of Listening Technique? Attentive Listening offers more opportunities to spot body language and non-verbal cues. Tactile Warmth leads to more concessions. Serve sweet food for a higher chance of your requests being favoured. How can one become a more believable negotiator? How does a noisy environment help raise a person’s closer attention? Leverage on hunger for a faster concession. What kind of weather is favourable to an agreement and when is the best time of the day to hold a meeting? Key points The big negotiation part is where you increase the other party’s insecurities. They cannot tell what you are thinking hence, they are making up potential scenarios in their minds. The topic appears more important if it draws attention. A firm handshake on an important topic usually seals the deal. Resources The Ultimate List of Negotiation Techniques ProcurementZen Ask Me Anything Thanks for Listening! To share your thoughts: Leave a note in the comment section below (I respond to every comment!) Ask a question over at Ask Me Anything Connect with me on LinkedIn To help out the show: Leave an honest review on iTunes. Your ratings and reviews really help and I DO read each and every one Subscribe on iTunes
16 minutes | 8 months ago
Negotiation Techniques Pt 5 (Deal Design) - 023
The art of deal designing could be very helpful to make things go your way during a negotiation. In this part of the Ultimate list of Negotiation Techniques, host Phill Kowalski teaches you exactly that. We go over several clever negotiation techniques that you can use to design a deal in your favor. Each technique is explained in depth with scenario examples. Episode Highlights: 1- Phil explains how demanding inflation could be a useful tactic in designing a deal in your favor. 2- How asking for upgrades even if you don't get the upgrade could be a good idea? 3- Making an unrealistic counter offer as an extremely powerful tool in deal design. 4- How to use Bundling tactic to improve your position in a negotiation? 5- What is a giveaway list? how to incorporate them while making counter offers? 6- How no response to any counter offer could motivate the other side to improve their offer. 7- Make yourself standout using differentiating tactics. 8- Use human nature of being fair to your advantage. 9- Dramatizing a certain point ; an extremely powerful tool. 10-What to do when you need more time for a negotiation? 11-Indicate the interest of the other side using waste of time tactic. 12-Use process change tactic to indicate how much the other side wants to do business with you. Key points: You can use tactics used by suppliers as a buyer Aggressive tactics pose high risk but could give high rewards, use them cautiously Research shows to use precise statements are more acceptable to the other side Resources Mentioned: ProcurementZen.com/023 ProcurementZen.com/ask SellMoreIdeas.com
15 minutes | 8 months ago
Negotiation Techniques Pt. 4 (Anchoring) - 022
In this episode of ProcurementZen we continue the ultimate list of negotiation techniques. In this episode Phil Kowalski puts focus on anchoring techniques. Episode highlights Big initial number - big numbers if you aim high, small numbers if you want low prices Look into past techniques. Works very good because of consistency and commitment Reframing - putting a fact that is important to you to another frame of reference. Reducing their expectations - Open negotiations by stating what is impossible to you. Downplaying the other side - downplaying the other side’s facts. Our rules - also known as policy based. Asking for proof is best way to fight this technique if applied to you Black and white - refers to contrast. This technique is about the relation between topics. False split - good negotiators never split the difference. Topic jumping - It's a confusion tactic that you use to derail the other side. Stroking one's ego - appealing to other people's ego is powerful. Doing favors - We humans tend to give back. It's very hard for us to owe something. Flattery - They help to establish a positive mood. Negotiations performance compliments - Use this negotiation tactic on small items, then you can ask for return on big items. Gaslighting - a very aggressive tactic, so be careful if you want to use it. Open frames - using open frames as hitting up the other side's imagination. Introduction of new people - allows to question previously agreed items. Electronic negotiations - through the design of the tender, the negotiator sets the frame. The power of the first action - This means that if you see a first offer as reasonable, you tend to go for it and not wait for the next one. Key points Good negotiators never split the difference. Only split the difference when you have artificially increased the values. Create a positive mood while negotiating.
11 minutes | 8 months ago
Negotiation Techniques Pt. 3 (Authority) - 021
In this part a few introductory ideas about the COVID-19 crisis. And then we cover authority tactics for your next negotiation in depth.
10 minutes | 8 months ago
Negotiation Techniques Pt 2 (Questions) - 020
Part 2 of the Ultimate List of Negotiation Techniques. In this episode I cover clever questions to ask that will improve your negotiation results.
16 minutes | 9 months ago
The Mission Statement - 019
In this episode we talk about the ProcurementZen mission statement and what that means for you.
18 minutes | 9 months ago
Negotiation Techniques Pt 1 (Negotiation Games) - 018
Ultimate List of Negotiation Techniques - in this 1st part we cover negotiation games. Make sure to subscribe to receive updates of the other 8 parts (110+ tactics in total).
23 minutes | 10 months ago
The Best Negotiation Books Part 3 - 017
This part finalizes our series on the best negotiation books. We cover places 3 to 1
13 minutes | 10 months ago
The Best Negotiation Books Part 2 - 016
This is part 2 in my 3part series on the best negotiation books. Today we'll cover two other great negotiation books that will definitely improve results. Make sure to subscribe and comment for more great negotiation info.
15 minutes | a year ago
The Best Negotiation Books Pt 1 - 015
The best negotiation books ever. In this episode, I introduce to why I think these books are great, how they have been selected and evaluated. Additionally I cover the first two books from the list (of 7). This is the first of three parts on the best negotiation books.
24 minutes | a year ago
Creating a commodity strategy (external) - 014
We continue our journey in creating a commodity strategy. In this weeks episode we cover the external views. What is the market view? How will we approach it? What do we need to consider?
23 minutes | a year ago
Creating a commodity strategy (internal) - 013
This is pt 1 of our 3 part series on how to create a commodity strategy. In it you will discover what internal factors to think of, when creating your strategy. Part 2 will be about external factors and part 3 will be a live example.
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