“Building Strong Supplier Relationships: Strategies for Negotiating and Maintaining Successful Partnerships”

Negotiating and Managing Supplier Relationships: Outline and Rubric Purpose of this Assessment The Final Assessment for this competency is to write a paper that demonstrates an understanding of how to negotiate and manage relationships with suppliers. Items Required for Submission In order to demonstrate mastery of this competency, you will submit a 3-5 page paper, in proper APA format, 12-point Times New Roman font, double-spaced. Step ONE: Preparation In order to prepare for this assignment, it is important to carefully read this document in its entirety before starting the Final Assessment. Ensure to review each required item and submit the essay and calculations that align with the rubric. When reviewing each problem, the following questions should be considered: 1. What possible tasks are required? 2. What will you need to complete the paper? 3. What information will you need? 4. What resources from this competency might you reference to complete this Final Assessment successfully? 5. Think about possible plans of action for the steps you will take – what strategies will you use to address each scenario? Final Assessment: Outline and Rubric 1Negotiating and Managing Supplier Relationships: Outline and Rubric Step TWO: Develop the Paper Imagine you are hired as an advisor for a large company to assess and manage their supplier relationships. Specifically, you have been added to the team that will be meeting with prospective new suppliers and then maintaining that relationship once the contract is finalized. 1 – On Day One of this new job, you are told that there will be a meeting next week with a potential new supplier. You have been tasked with preparing for the meeting which includes researching the new supplier. Looking back at the competency section titled, “Preparing for Negotiation,” how will you prepare for this meeting? What information will you try to garner about this company that will be supplying a product/service? Ensure to include the steps of researching a prospective buyer and the importance of: ● Preparation ● Style ● Porter’s 5 Forces ● SWOT analysis 2 – Now pretend that the negotiation meeting went well and the company finalized the contract with the supplier. Fast forward 60 days from the contract being signed. You have demonstrated a strong knowledge of supplier relationships. Your boss tasks you with maintaining the supplier relationship. The competency describes principles and practices that will build strong supplier relationships. ● Name five of the principles mentioned in the competency on promoting good relations and trust. ● Define these principles and describe how you will use them to effectively foster a strong supplier relationship. Step THREE: Complete Checklist for Submission Before you submit your work, check to see if you have met the criteria noted below. Did you: ✓ Ensure your paper meets the page requirements ✓ Provide a clear and comprehensive strategy for preparing for a negotiation meeting including: Preparation, Style, Porter’s 5 Forces, and SWOT analysis ✓ Comprehensively defined and described five of the principles of promoting good relationships ✓ Answers each question completely and correctly ✓ Paper is APA format, Times New Roman 12-point font, double-spaced, 3-5 pages in length