How can you manage multiple purchasing negotiations at once?

The whole process leading to multiple negotiations started month earlier with proper opportunity assessment and product alignment. If you are have a clear goal and priorities the right projects you will have a good chance to manage multiple negotiations the same time. In the end you need to have the right team around you because you never win alone.

A key element of successfully prioritizing multiple purchasing negotiations is effectively balancing lead times for the products/services to be procured with project/organizational requirements. Logic may dictate that the items with the longest lead time should be procured first but this often is not aligned with project/organizational requirements. Negotiations should be prioritized to ensure that items are available at the time they are required for the respective process for which they are being procured. This involves deliberate planning and meaningful collaboration with the end users of the products/services, while conducting an appropriate amount of risk mitigation and management.

I have found that prioritization will vary greatly depending upon the circumstances at play. For instance, the way one prioritizes for a new customer will not be the same as for an established one. New relationship negotiations are full of barriers to trust that complicate the efficiency and smoothness of the negotiation. The key element for both existing and new customers is the relationship (note a customer can be an internal group). An investment should be made to build the cooperative bridge so that each party can rally to mutual ground on the topics under consideration. RIsk level, time sensitivity, potential savings, and strategic value are also important but typically take a back seat to the relationship status building first.

I handle up to 20 properties that a owner may be out of the country. The let me know what they want to do and they trust me to buy sell whatever is in their best interest. I know when the market is hot and when it’s not. I don’t take chances with other peoples money. They work hard to make.

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Irrespective whether one is planning for the one special deal or for multiple negotiations in parallel: the preparation phase to any negotiation requires most of your time. While all phases are important I experience that too much attention is given to the actual negotiation and almost always far too little time for the preparation. Having the worlds best negotiator in your team is worth little when not having done a proper research or sophisticated internal alignment. For example: what is your "walk away" price when you simply stop negotiating or at what price point exactly do you not wait any longer and close the deal.

1?? You can use the fact that you have multiple deals as leverage. If the other side insists on lots of discussions and concessions, you can move the deal to a lower priority. It only works as leverage if you tell them. 2?? If the other side gives a deadline, remember they most likely made it up. 3?? Delegate where possible. 4?? Remain flexible. ? Intentionally triage daily tasks.

The negotiations that I have been involved in that go well are based upon a look at how this negotiation will fit into the long term objectives of the organization. Yes there are short term objectives too. One needs to evaluate the value proposition the negotiated item has relative to what may need to be given up during the process for the longer term good. This helps to formulate the pain points and the stops on where to go during the process by mapping the path to what you want. Most of all know your counterpart well and leverage known pain points for them to your favor for what you want to receive in the process. Great points Justin McNaughton, very true elements to keep in mind during the process.

Firstly my opinion ..... If you can only do one negotiation at a time you could be in trouble regardless of type, size or length !! Maybe account management isn't for you as it could end up being very stressful .. Learning to plan, strategiese and know what the customer expects well before a negotiation starts so you can line up all required resources and try to ensure it follows the path you need is essential !..Also having good collaborative customers (partners) can make multiple negotiations a breeze as you can transparently discuss any constraints you may have and work out solutions together. Finally having a self awareness of when enough is enough before it impacts the customers is needed and the ability to ask for help when needed