Contracts

Leveraging Behavioral Data in Negotiations

Posted: 03/30/2020 - 22:35
Behavioral Data in Negotiations

Knowing the behavioral history of a supplier prior to negotiations is essential to understand the reasons why a supplier is likely to offer optimal prices and service level agreements (SLA).

In the past, siloed and in-person negotiations often revealed insights about supplier behavior, but these insights were usually ignored because there was no empirical way for a sourcing professional to capture, share, and leverage this behavioral data cross-functionally.

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