How can you identify and address power imbalances in vendor conflicts?

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Vendor conflicts are inevitable in any business relationship, but they can be especially challenging when there is a power imbalance between the parties. A power imbalance can arise from different factors, such as size, reputation, dependency, or leverage. If you are facing a vendor conflict where you feel you have less power than the other side, you need to identify and address the root causes of the imbalance and find ways to negotiate effectively and fairly. Here are some tips to help you do that.

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1 Assess the situation

Before you engage in any conflict resolution, you need to assess the situation and understand the sources and consequences of the power imbalance. Ask yourself questions like: What are the main issues and interests of each party? How much do you depend on the vendor or vice versa? How much influence or control do they have over your business operations or outcomes? How do they perceive your power and value? How do you communicate and relate to each other? How do you handle disagreements or disputes? By answering these questions, you can gain a clearer picture of the power dynamics and the potential risks and opportunities for resolving the conflict.

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Tan Ru Torng Simon

Senior Vice President- Corporate Governance at Fung Group
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Set out the strategic intent to address the risks in the supply chains that are vendor dependence. Key message do business with your eyes ?? open and assessed the severity of the outlined risks impacting the your attractiveness of supply chain service offerings and your organisation to switch vendors. a. Location concentration risks b. Product concentration c. Trade sanction risk d. Geopolitical risk e. Ease of X border transportation and shipments f. Pandemic ??

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2 Communicate your needs and expectations

One of the most important steps to address a power imbalance is to communicate your needs and expectations clearly and respectfully. You need to express your concerns and grievances, but also acknowledge the vendor's perspective and contributions. You need to avoid being passive or aggressive, but rather be assertive and constructive. You need to state your goals and priorities, but also listen and understand the vendor's needs and challenges. You need to use facts and evidence, but also appeal to emotions and values. By communicating effectively, you can build trust and rapport, reduce misunderstandings and assumptions, and create a common ground for negotiation.

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Tan Ru Torng Simon

Senior Vice President- Corporate Governance at Fung Group
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Set out the expectation framework. Engagement and collaborations to address potential pain points along the critical path from “orders, samples - pre/post, QA testings, and timely address any eminent bottlenecks”. Partnership and reputation credibility. Tracked the activities transactions activities, and effective use the results for constructing engagement, operational improvements that form part of the continuing service obligations both in the normal business situation or issues confronting the supply chains - pandemic, lockdown, geopolitics tensions, etc

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3 Seek alternatives and options

Another way to address a power imbalance is to seek alternatives and options that can increase your bargaining power or reduce your dependency. You can do this by researching the market and finding out if there are other vendors who can offer similar or better products or services, or by exploring other sources of income or resources that can reduce your reliance on the vendor. You can also look for ways to add value or create differentiation that can make you more attractive or indispensable to the vendor. By seeking alternatives and options, you can expand your choices and flexibility, and avoid being trapped or exploited by the vendor.

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4 Negotiate fairly and collaboratively

Finally, you need to negotiate fairly and collaboratively with the vendor to resolve the conflict and reach a mutually beneficial agreement. You need to prepare well and have a clear strategy and criteria for negotiation. You need to be confident and assertive, but also respectful and cooperative. You need to focus on the interests and outcomes, not the positions and personalities. You need to propose solutions and compromises, but also ask for concessions and benefits. You need to manage emotions and tensions, but also maintain relationships and goodwill. By negotiating fairly and collaboratively, you can overcome the power imbalance and achieve a win-win situation.

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5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you identify and address power imbalances in vendor conflicts?

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1 Assess the situation

2 Communicate your needs and expectations

3 Seek alternatives and options

4 Negotiate fairly and collaboratively

5 Here’s what else to consider

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