Maximising Value in Negotiations: Strategies for Cost Savings and Improved Margins

17-18 Apr, 2023, Pullman Kuala Lumpur Bangsar

IPA Training is Registered with

Venue Details

Pullman Kuala Lumpur Bangsar
No 1 Jalan Pantai Jaya, Tower 3, 59200 KUALA LUMPUR,

https://all.accor.com/hotel/7962 /index.en.shtml


Phone : 0 3-2298 1888
Fax : 0 3-2298 1999

Contact us

FOR COURSE DETAILS

Juliany,

Office: 03 2283 6109

Mobile: +60 122281247

juliany@ipa.com.my

Phoebe,

Office: 03 2283 6100

Mobile: +60 193637822

phoebe@ipa.com.my

Bee Teng,

Office: 03 2282 6112

Mobile: +60 172566121

beeteng@ipa.com.my

FOR CUSTOMISED IN-HOUSE TRAINING

Jane,

Office: 03 2283 6101

Mobile: +60 129418251

jane@ipa.com.my

Keith,

Office: 03 2283 0000

Mobile: +60 162272735

keith@ipa.com.my

ADDRESS

A-28-5, 28th Floor, Menara UOA Bangsar,
No.5, Jalan Bangsar Utama 1,
59000 Kuala Lumpur

FOCUSING ON
  • Module 1: Introduction To Negotiation And Cost Savings
  • Module 2: Understanding Your Negotiation Goals And Targets
  • Module 3: Preparation And Research
  • Module 4: Building Rapport And Establishing Trust
  • Module 5: Leveraging Bargaining Power
  • Module 6: Negotiating With Sole Sources And Tough Negotiators
  • Module 7: Improving Gross Margin
  • Module 8: Contractual Elements In Negotiation
  • Module 9: Closing The Deal And Finalising The Agreement
INTRODUCTION

Effective negotiation is a crucial skill for personal and professional success, especially when it involves cost savings and improving gross margins.

This comprehensive 2-day course provides a deep dive into the art of negotiation, which covers everything from preparation and research to closing the deal and subsequently finalising the agreement.

This course emphasizes cost savings techniques and strategies for maximizing value in negotiations, handling objections, and navigating the complexities of contracts.

In addition, this course includes a module on negotiating with sole sources and tough negotiators, providing attendees with the tools they need to succeed in any negotiation.

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Developing a comprehensive understanding of negotiation theory and best practices for securing cost savings.
  2. Learning how to prepare for and conduct effective negotiations.
  3. Learning new ways of negotiating.
  4. Acquiring the confidence and resilience to handle any negotiation scenario, including negotiation with sole sources and tough negotiators.
  5. Improving your bottom line by securing better pricing, reducing costs, and maximizing value through a win-win approach.
  6. Gaining insights into the complexities of contracts and how to leverage them by achieving cost savings.
WHO SHOULD ATTEND

This course is designed for professionals from all backgrounds and industries who want to enhance their negotiation skills, improve their bottom line, and achieve their negotiation goals.

Whether you are a seasoned negotiator, just starting out, or looking to enhance your skills, this comprehensive course provides you with the tools, techniques, and strategies you need to succeed in any negotiation scenario.

METHODOLOGY
Interactive Lectures, Exercises, Case-Studies, and Class Interaction with QA.
DAY 1
9:00

MODULE 1: INTRODUCTION TO NEGOTIATION AND COST SAVINGS

  • Overview of negotiation
  • Importance of cost savings and how it affects the bottom line of your company
  • Different types of negotiation and their unique characteristics


10.45

MODULE 2: UNDERSTANDING YOUR NEGOTIATION GOALS AND TARGETS

  • Developing clear and realistic negotiation goals
  • Understanding the other party’s perspective, priorities, and motivations
  • Identifying the target for cost savings and improving gross margins

 

 

MODULE 3: PREPARATION AND RESEARCH

  • Importance of thorough research, including market trends and prices
  • Preparing for potential objections and roadblocks
  • Identifying your own strengths and weaknesses as a negotiator

 

1:00 Lunch
2:00

MODULE 4: BUILDING RAPPORT AND ESTABLISHING TRUST

  • Building relationships with the other party and creating a positive negotiation atmosphere
  • Using active listening and empathy to understand the other party’s perspective
  • Building rapport through mutual interests and common goals

 

3:45

MODULE 5: LEVERAGING BARGAINING POWER

  • Understanding and using different bargaining tactics and strategies
  • Win-win negotiations
  • The usefulness and benefits of interest- based negotiations

 

5:00 End of Day 1
DAY 2
9:00

MODULE 6: NEGOTIATING WITH SOLE SOURCES AND TOUGH NEGOTIATORS

  • Understanding the challengers involved
  • Strategies for dealing with sole source and tough negotiators
  • Approaches for handling tough negotiation tactics and maintaining control of the negotiation process


10.45

MODULE 7: IMPROVING GROSS MARGIN

  • Techniques for improving gross margins through cost savings, pricing strategies, and ordering and inventory policies
  • Strategies for reducing expenses and improving operational efficiency

 

1:00 Lunch
2:00

MODULE 8: CONTRACTUAL ELEMENTS IN NEGOTIATION

  • Understanding key elements of contracts, including conditions, warranties, and obligations
  • How contractual elements impact negotiations and cost savings
  • Drafting contracts that are clear, binding, and aligned with negotiation goals

 

3:45

MODULE 9: CLOSING THE DEAL AND FINALISING THE AGREEMENT 

  • Managing expectations and establishing clear post-negotiation
    follow-up procedures
  • Ensuring that all agreed-upon terms are met and that all parties are held accountable
  • Resolving any disputes or issues that arise after the agreement

 

5:00 End of Course