Our 2015 Papers – Negotiation Skills and Contract Analytics

Before we get into all the exciting new briefing and research papers we will have for you in 2016, we thought we would just remind you of those we published in 2015. They are all free to download; and we always aim to make them stimulating and thought-provoking but not too full of jargon, technological detail or business waffle. Look on it as our contribution towards the continuous professional development of the procurement profession.

So this week we will just have a brief reminder of those papers. And of course we welcome any comments, positive or negative, and indeed if there are areas where you would like to see us focus more attention, we’re very grateful for ideas and thoughts on that too!

Today, a fascinating paper on negotiation and psychology; and why you really should take contract management more seriously!

Improve Your Procurement Negotiation Skills – Dr Daniel Kahneman and Behavioural Psychology Suggest Some Winning Techniques

Sponsored by BravoSolution - Download here

In this paper, we discuss how some of the latest thinking in behavioural psychology suggests ways in which procurement practitioners can improve their negotiation skills. The work of Nobel Prize winner Dr. Daniel Kahneman and others has revolutionised thinking about how people think and make decisions. He won the Nobel Prize for showing that many economic theories were based on the false assumption that humans behave logically. But that fallacy underpins much business thinking, including negotiation theory, where we tend to assume that all parties will within reason behave rationally and logically.

In the main part of the paper, we look at three of the key behavioural psychology traits that can impact negotiation success; priming, anchoring and attitudes towards risk. All three behavioural traits suggest approaches to negotiation that may be beneficial for procurement practitioners, and (just as important) some issues we should be aware of in terms of how to ensure the negotiation does not go in a direction that might be to our own disadvantage.

 

The True Value of Contract Intelligence

Sponsored by Seal Software - Download here

Contract intelligence: this is the information and data found in supplier contracts that every organisation holds, but few truly understand, utilise or exploit. This paper explains why contracts and contract management are so important to organisations, looking at both the risks and opportunities that are inherent in most supply contracts.

Managing those two aspects to deliver value should sit at the heart of all contract management strategy and activity. Yet so many firms don’t know how many contracts they hold, let alone where they are physically situated or who “owns” them! We’ll discuss why these challenges are so great for so many, despite the fact that these basics are vital before organisations can analyse the contracts in detail to explore the value and risk issues.

 

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