A reservation price is: a) The price the other party offers b) The zone of possible agreements c) A quantification of a negotiator's BATNA d) A difficult target
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A reservation price is:
a) The price the other party offers
b) The zone of possible agreements
c) A quantification of a negotiator's BATNA
d) A difficult target
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- “A buyer should not only be concerned with negotiating the reduction of price with a potential supplier, other aspiration points and issues that may require negotiations in order to reach satisfactory settlement could relate to product quality, date of delivery, free delivery up to buyer’s end, reduction in packing charges, higher trade discount on bulk purchases, seeking maximum co-operation of the supplier, or even removal of obstacles that could arise in future etc.” That is to say, the fundamental drivers of carrying out negotiations are due to our basic needs, wants, and motivations. As the procurement role evolves from transaction-based into more of strategic partnership with suppliers, negotiation and management skills have become increasingly important. Hence, to have effective negotiation with suppliers, the skills employed by procurement professionals need to be broadened. a) What does the term negotiation generally mean? b) In more specific terms, what does negotiation in…In London stock exchange company with some of its assets are under lease contracts. Examine withanalytical examples how those company treated lease contract in their financial statements before and after adopting IFRS16 also determine how the company's EBIT, EBITDA AND DEBT/EQUITY RATIO have been impacted by adopting IFRS 16Mr. Williams, the leather handbag buyer for an upscale menswear specialty retailer located in San Francisco, decides to review his vendor analysis report before making his forthcoming season’s purchases. The report shows that there are three relatively strong and three relatively weak suppliers among the top six resources in relation to the gross margin each generated. Mr.Williams realizes that some important aspects of his job as a buyer are to negotiate trade discounts, quantity discounts, cash discounts, dating, and transportation charges. Because any and/or all of these factors can increase the essential gross margin figure, he examines copies of past orders to determine the terms of sale on previous purchases. He discovers that some suppliers granted all his requests pertaining to discount and dating elements, certain vendors negotiated these factors only after an initial order was placed, and a considerable number allowed only the absolute minimum discount that prevailed in the…
- Q: If no time nor pricing mechanism were mentioned/found in an agreement, how will duration and cost can be determined?ABC association has 22 controlled facilities and is hoping to supply chocolate for customers. you are the unmistakable man or lady to bargain with a XYZ chocolate creator. Your underlying offer is to wish to give 5,000 boxes (little four-6 desserts in a present-design field) for $ 10 with regards to field. in any case, XYZ chocolate creator makes an underlying counter proposal of two,500 boxes at $15.00 a container. As a retreat advisor, what do you have to do while haggling with the chocolate creator, what are your contentions and advantages for the chocolate producer as an approach to obtain the objective as you need (or outcomes which may be agreeable on each sides)? Any models, all things considered, to help your exchange?19) The NRC (National Research Council) of Canada is sending out a request for proposal for a very large long-term research and development project. What contract type are they most likely to use? a) fixed price b) cost reimbursable c) time and materials d) unit price 20) Payments to the seller are made in accordance with the: a) project management plan b) procurement management plan c) communications management plan d) terms of the contract
- True or False If the term of the sale is FOB destination point, the Seller will shoulder the cost of the transportation in delivering the goods to the buyer.You have been asked to analyze the bids for 200 polished disks used in solar panels. These bids have been sub-mitted by three suppliers: Thailand Polishing, India Shine, and Sacramento Glow. Thailand Polishing has submitted a bid of2,000 baht. India Shine has submitted a bid of 2,000 rupees.Sacramento Glow has submitted a bid of $200. You check withyour local bank and find that +1 = 10 baht and +1 = 8 rupees.Which company should you choose?Jennifer has a small business mixing and selling essential oils. One product is a mixture of two oils, lavender and peppermint. She asked her assistant, Carmen, to check on two suppliers to determine the costs for her next batch. Carmen contacted the suppliers and got quotes from each for the order. She misplaced the number of ounces of each oil she needed to purchase. The information she has is: Supplier A: lavender: $5.80$5.80/ounce peppermint: $4.20$4.20/ounce Total cost: $128.40$128.40 Supplier B: lavender: $4.50$4.50/ounce peppermint: $5.00$5.00/ounce Total cost: $124$124 She decides to solve a system of equations to determine the number of ounces of lavender, LL and of peppermint, PP, she should order. What system of equations can Jennifer use to find LL and PP?
- To ensure a full line of outdoor clothing and accessories, the marketing department at Teddy Bower insists that they also sell waterproof hunting boots. Unfortunately, neither Teddy Bower nor Teddy Sports has expertise in manufacturing those kinds of boots. Therefore, Teddy Bower contacted several Chinese suppliers to request quotes. Due to competition, Teddy Bower knows that it cannot sell these boots for more than $54. However, $40 per boot was the best quote from the suppliers. In addition, Teddy Bower anticipates excess inventory will need to be sold off at a 50 percent discount at the end of the season. Given the $54 price, Teddy Bower’s demand forecast is for 400 boots, with a standard deviation of 300. If Teddy Bower decides to include these boots in its assortment, how many boots should it order from its supplier? Suppose Teddy Bower orders 380 boots. What would its expected profit be?All of the following are advantages to contracting except: a. Reducing income riskb. Assuring a market for a commodityc. Eliminating default risk of a single buyerd. Ensuring and rewarding for qualityS1: Cost plus contract is a contract used on long term construction contracts in which the contractor agrees to a contract price that is fixed, either at the inception or at a fixed rate per unit of output, which in some cases may be subject to cost escalation clauses.S2: Variable contract is a construction contract in which the contractor is reimbursed for allowable or otherwise defined costs, plus a percentage of these costs or a fixed fee S1 True; S2 False Both are true Both are false S2 True; S1 False