Keeping a close watch on your company budget might mean you need to revisit your contracts with suppliers or vendors. It might be difficult to think about confronting a relationship that goes a long way back, but in the interest of your finances, it might be wise to consider a meeting with your partners. Whether you buy metal tubing for your manufacturing company or hydraulic fittings San Antonio distributors provider, you can feel empowered to work out a better deal for your company.
The best way to go into a business meeting is by being well prepared. You should have the data with what you generally order, your current prices, your projected purchases, and competitor offers. You should be realistic about what you need, but you should also make your account seem invaluable to the vendor.
Don’t Be a Bully
If you go into negotiations with threats and defensive nature, you probably won’t be able to come to a compromise without damaging your working partnership. Keep your body language and tone conversation and open. Listen to their offers and be prepared to hear push back on what you have requested. Don’t be argumentative but clearly state that you have been looking into other options.
Mention the Competition
Before you decide to bring up the competition, make sure you have exhausted your own negotiating abilities. You should never feel like you need to stay with a certain supplier because you are worried about hurting a sales rep’s feelings. However, you don’t want to make idle threats. You can mention alternative pricing you have received if the service and products are comparable. Don’t use the competition as a cop-out for being honest with how you feel about the current service and prices of the vendor.
Even if you are satisfied with the current service you are receiving, it is always nice to save a few dollars. If you consistently order from a vendor, this a great way to improve the company budget and finances.