This article explains:
- How to add value for a supplier;
- How to negotiate as a consortium; and
- Why hardball should only be played last.
In many industries, cut-throat pricing models have left only one or two suppliers remaining, effectively creating a monopoly.
As a buyer, you still have crucial leverage in the negotiations — the power to walk away. Use that power wisely by following these four steps.
Ranked from least to most risky, each step is backed up with real-world examples of companies reshaping uneven relationships.