In today’s business world, the ability to negotiate confidently is one of the most important skills a person can have. This is especially true for procurement professionals. With so many people competing for jobs and resources, it’s up to you to be able to negotiate your way into success. Ensuring that two parties with potentially opposing desires can come to an agreement and feel satisfied is paramount. In this article, we look at seven skills essential for any successful procurement professional.
- Preparation – The first and, possibly, most crucial skill for negotiation is preparation. Whether you are negotiating a contract or buying production materials from a supplier, preparation and research are essential. This will ensure that you know what’s on offer and what will likely be expected of you. This knowledge can help you make a more informed decision about how best to proceed.
- Active Listening – One of the most important things you can do when negotiating is listen. It’s easy for negotiators to become focused on what they want to achieve during the procurement process. However, forgetting to give your counterpart a fair say in the negotiations can be detrimental to any potential accomplishments. It’s crucial that both parties feel heard for a negotiation to be genuinely successful.
- Patience: A negotiation can take a lot of time and patience, so it’s vital to approach negotiations with an understanding that things may not happen as you had anticipated.
- Integrity: It is critical to build a reputation as a fair, honest and reliable negotiator, both personally and as a representative of your organisation. This integrity will lead other companies to see the value in your consistency, thereby boosting your company’s reputation and making it easier to negotiate future contracts and deals.
- Solid Problem-Solving Skills: It should be relatively easy for parties to agree on the items they have in common, which is a great place to start the negotiation process. However, for those areas where there are differences of opinion, the ability to think creatively and come up with different solutions to problems is vital.
- Emotional Control: Negotiating can be stressful, but it’s essential to remain calm and collected even when you’re frustrated or anxious. Your counterpart may sense your tension which could make them more challenging to negotiate with. A loss of control of emotions can be perceived as a sign of weakness, resulting in an opponent trying to take advantage of you. Additionally, getting caught up in the moment of your emotions may interfere with your ability to listen well.
- Passion and Confidence – Being passionate about what you are negotiating for is key to making the best deal. If you genuinely believe in your organisation and the product or services you offer, then you will be more able to convey information in a positive and assured way. This passion and confidence instil a sense of trust that can lead to successful negotiation and acquiring new business opportunities.
Negotiating can feel like one of the most daunting parts of a successful procurement; however, it doesn’t have to be. With dedication, time and patience, every procurement professional can master it.
If you want enhance your negotiation skills, why fine out more about a CIPS Diploma in Procurement and Supply. For more information about the procurement courses from The Oxford College of Procurement and Supply, get in touch with one of our course advisors.