Nyden on Negotiations Podcast: Recent Episodes
Jeanette Nyden
Are you a supply chain professional who negotiates contracts to purchase or to supply goods and services? Is it time to add some new contract negotiation tools to your tool kit? Do you need to take your contract negotiation skills to the next level? You’ve come to the right place. On Nyden on Negotiations podcast, I take you through different issues of contract negotiation and give you real-world solutions to these issues. This podcast is specifically designed for people who negotiate complex customer/supplier agreements. My podcast is based on all 4 of my books and includes interviews with experts, lectures, webinars, and 10-minute learning lessons.
Have you ever wondered how procurement scores supplier proposals? Well, here is your chance. Listen to two procurement insiders talk about how they score supplier proposals to determine which supplier is awarded the contract.
Have you ever considered in your wildest dreams that you would be negotiating with Artificial Intelligence? Is that better than people who are irrational and emotional? To negotiate with AI or not to negotiate with AI. THAT was the question. I discussed this issue with Antonio ANCORA on November's Lunch & Learn. If you missed the Lunch & Learn no worries, I have you covered! Here is the replay of our conversation.
This is the second webinar in this series and we will discuss developing SLAs that deliver performance to developing a joint scorecard. A joint scorecard measures both the customer’s and the supplier’s performance in a highly collaborative relationship, such as a Vested agreement. Specifically, I cover:
1. Why SLAs fail to deliver performance
2. Best practices for developing SLAs that deliver performance
3. Developing a joint scorecard
To learn more visit https://jnyden.com
More resources: 3 Critical Tools For The Contract Negotiator's Toolbox https://www.jnyden.com/NegotiatorToolbox
If you want to watch the full video with examples of the tools used go to https://youtu.be/8JDYHPUrWDk
This is the first webinar in the Contract Negotiator's Toolbox and we will discuss the Total Cost Of Ownership Webinar and how to lead a team to perform a more complex cost of ownership analysis.
- Why do a Total Cost of Ownership Analysis
- What do I mean by a TCO Analysis
- What are the elements used
To learn more visit https://jnyden.com
More resources: 3 Critical Tools For The Contract Negotiator's Toolbox https://www.jnyden.com/NegotiatorToolbox
Watch the full video with examples of the tools mentioned https://youtu.be/PTKlXbXiEPE
Advanced governance mechanisms are appropriate for highly interdependent customer/supplier relationships such as outsourcing agreements. In this recorded live webinar I cover:
1. Why establish level 3 governance
2. Examples and best practices in developing level 3 governance
3. How to move to a level 5 governance mechanism
To learn more visit https://jnyden.com
More resources: 3 Critical Tools For The Contract Negotiator's Toolbox https://www.jnyden.com/NegotiatorToolbox
Writing contracts in plain English—simple terms that have the same definition across many contract users contained in short easy to read sentences—is within your reach. Milva Finnegan answers common questions people have when seeking to simplify their contracts and introduces her new book User-centered design: A key to contract simplification in this podcast. Listen discusses some “terrible ideas” in contract design that we should avoid and some practical tips to start simplifying your contracts.
Milva, originally from Finland, has spent the past 20 years working for large US-based companies involved in financial planning & analysis, contract management, international business, and leading diverse teams in finance-related roles. She has drafted, negotiated, and implemented hundreds of US government, US Commercial, and International acquisition contracts. Today she runs a contracts consulting company Karhu, LLC that helps clients implement contract management best practices, and provides contract management-specific training and workshops.
You can contact Milva Finnegan at : karhuconsulting.com
https://twitter.com/karhuconsulting
https://www.linkedin.com/in/milva-finnegan-89065376/
Are you wanting to take on a leadership role in your career? Or, is your organization asking you to lead? Do you think that being a boss makes you a leader? These questions and much more are discussed in this podcast with succession planning coach Laurie Nichols. Laurie and I call out to all next gen leaders to think about the challenges and opportunities they face to prepare for a leadership role. Laurie discusses:
- The importance of the right mindset to lead,
- How essential personal accountability is for individuals seeking to develop their leadership skill set, and
- Defining “success” in a leadership role.
Laurie is a wealth of knowledge and you will learn from someone who takes succession planning very seriously as she helps best in class companies plan for the future.
About Laurie Nichols
Laurie Nichols empowers founders, leaders and high-potential successors to engage with purpose, urgency, AND empathy to lay a foundation for the design and execution of a succession strategy that results in a mutually rewarding experience for all. Her people-first approach is the foundation for “succession planning with heart” that focuses on a win-win for everyone involved. Laurie brings over 30 years of professional service firm leadership experience to her work including 20+ years as managing partner in an independent investment management firm. After the sale of her business, she followed her passion to support business owners and leaders with crafting meaningful lives and legacies. Laurie is a Certified Professional Coach, Certified Conversational Intelligence Coach and a Registered Life Planner. Click here to learn more about Laurie Nichols Coaching.
Connect with Laurie on LinkedIn and reach her directly at Laurie@LaurieNichols.com.
In this podcast with Lawrence A. Kane, we will discuss best practices to leverage milestone payments, liquidated damages and bonuses. All three of these contract tools have to be manageable and meaningful, and need to have a strategy to drive value to the customer/supplier relationship. Listen as we discuss these aspects of these three best practices: (1) Linking milestone payments to the SOW deliverables, (2) Avoiding unbalanced pricing, and (3) Using liquidated damages and bonuses, along with milestone payments, to drive supplier performance.
Lawrence A Kane was inducted into the Sourcing Industry Group (SIG) Sourcing Supernova Hall of Fame in 2018 for transformational leadership in strategic sourcing, procurement, supplier innovation, and digital transformation. A member of the SIG University Advisory Board, International Association of Outsourcing Professionals (IAOP) Think Tank, and IAOP Training & Certification Committee, I helped create many of the procurement industry’s leading practices and regularly advance thought leadership as a keynote and breakout speaker at conferences. Currently responsible for strategic sourcing functional excellence at a Fortune® 50-sized corporation, he has comprehensive buy-side and deep sell-side experience, managing multibillion dollar IT and business process outsourcing deals as well as supporting multibillion dollar capture business development teams. He has been interviewed by Forbes, The Jim Bohannon Show, FOX News, Computerworld, Art of Procurement, Biz Talk Radio, Negotiations Ninja Podcast, The Sourcing Hero podcast, and more. The bestselling author of 21 books, he co-wrote The Contract Professional’s Playbook (and eLearning program) and contributed to Strategic Sourcing in the New Economy, the IAOP Outsourcing Professional Body of Knowledge (OPBOK), and many other works.
If you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below. https://jeanettenyden.simplero.com/
When suppliers get caught in customer’s drama.... (sigh). When I see it happening, it is usually at post-award at QBRs etc. I metaphorically envision the supplier’s clothing getting caught in the customer’s moving gears – their approval process, their lack of an approval process, their culture, or political infighting. I recently witnessed one such episode and felt compassion for the supplier. I called my colleague Carol Bowser for advice. Carol is a former employment lawyer who provides workplace conflict management training and mediation services. She is one of the top 30 people to follow-on conflict management on Linked In, and has a conflict tip of the day and a newsletter with tips, techniques and conversation starters.
Carol had some great insights about why meetings go off the rails. Listen as she discusses the importance of understanding Goals, Roles, Guidelines and Ground Rules. Carol has so much to say about managing conflict in the work place. You can find her at conflictmanagementstrategies.com, and in LinkedIn https://www.linkedin.com/in/carol-bowser-2a65691/
Holy smokes, there must be a million redlines in this contract! #@& If there is an implied or explicit expectation that you will use your professional judgment to prepare a suggested resolution to an objection to a contract term, this podcast is for you.
This podcast is based from The Contract Professional's Playbook eLearning Program, if you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below. https://jeanettenyden.simplero.com/
If you would like to watch the video, follow this link to my YouTube channel to view the video.
Changes in scope can be minor like a change in a delivery date. Usually when we talk about scope changes we are talking about increasing a portion of the scope of work and that corresponding change will also increase the price to perform the work.
This podcast is based from The Contract Professional's Playbook eLearning Program, if you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below. https://jeanettenyden.simplero.com/
If you would like to watch the video follow this link to my YouTube channel to view the video.
Risk….every organization has some level of risk with customer/vendor relationships. If you are the Contract Manager your goals are to protect the organization and reduce or eliminate exposure to loss by identifying, assessing and monitoring contract risk on behalf of your organization. If the Contract Manager and those who draft and negotiate the contract are not working together to identify potential risks and associated losses then your organization is left exposed to risk. The key to success is to work together to identify these potential risks and associated losses and make sure your organization is protected with the inclusion of relevant contract language.
This podcast is based from The Contract Professional's Playbook eLearning Program, if you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below. https://jeanettenyden.simplero.com/
If you would like to watch the video follow this link to my YouTube channel to view the video.
Lawyers keeping it simple? Unheard of! Well, Milva Finnegan is taking on unnecessary complexity in contracts in her forthcoming dissertation and her PhD research in connection with Vassa University in Finland. Her research is focused on contract simplification, re-design and visualization. Her goals is to drive a universal shift toward developing more user-friendly contracts. Listen to Milva explain how your company can implement simplification theory.
Milva, originally from Finland, has spent the past 20 years working for large US based companies involved in financial planning & analysis, contract management, international business, and leading diverse teams in finance related roles. She has drafted, negotiated and implemented hundreds of US government, US Commercial and International acquisition contracts. Today she runs a contracts consulting company Karhu, LLC that helps clients implement contract management best practices, and provides contract management specific training and workshops.
You can contact Milva Finnegan at : karhuconsulting.com
https://twitter.com/karhuconsulting
https://www.linkedin.com/in/milva-finnegan-89065376/
In this podcast, we will briefly examine ways to determine the extent of and level of regular monitoring of customer/supplier performance to achieve business objectives and control risk.
This podcast is based from The Contract Professional's Playbook eLearning Program, if you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below. https://jeanettenyden.simplero.com/
If you would like to watch the video, follow this link to my YouTube channel to view the video.
The research is clear. Collaborative relationships help companies achieve “win-win” results and outperform power-based relationships. In a world of increasing complexity, the ability to cooperate efficiently with suppliers, customers and other strategic partners provides a significant path to competitive advantage, innovation and growth.
This podcast is based from The Contract Professional's Playbook eLearning Program, if you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below. https://jeanettenyden.simplero.com/
They’re here!! The Millennial leaders. By 2025 a majority of the U.S. workforce will come to form the Millennial generation of workers. In this podcast, I interview Brian DeCaires, a millennial supervisor managing a team of contract professionals with a wide range of skills and experience. Brian describes his approach to enhancing his team’s skills, which is heavily influenced by his collaborative approach to working with colleagues. This is a great peek at how millennials will be shaping the contracting profession in the years to come.
My guest, Peter Simoons, is the co-founder of the Alliance Accelerator and the Alliance Roundtable. Alliances and non-legal partnerships are an excellent vehicle for growth, even during difficult economic times. In fact, according to the Art of Procurement, approximately 30% of Chief Procurement Officers have growth as their number 1 goal in 2021. In order to achieve success as an alliance member though, members have to follow the alliance life cycle, and embrace collaboration. In this podcast, Peter talks about the alliance success journey and explains why our future includes collaboration.
About Peter Simoons: Alliance specialist and coach, Peter Simoons helps people and companies around the world to deliver stellar results through their alliances and partnerships. Peter likes to keep his work with clients practical, so he helps you find solutions that are easily implemented into your own work – leading to fast results.
For more information about Peter and best in class alliances, visit petersimoons.com and alliancemasterclass.com.
Co-authors Jeanette Nyden and Kate Vitasek celebrate 10 years of Vested™ thought leadership. Kate is the world’s leading authority on how to create highly collaborative relationships that drive Innovation. Ten years ago, Kate teamed with Jeanette, Katherine Kawamoto and Jacqui Archer to provide step-by-step guidance to develop a Vested™ business agreement in their book The Vested Outsourcing Manual. In this conversation, Kate talks about the positive impacts of Vested™ and what is next to come. Learn more about Vested atwww.vestedway.com Learn more about Jeanette at www.jnyden.com
Here’s the secret: It starts with the customer, not the supplier! Some of you asked me how to encourage suppliers to make continuous improvements. So, in this webinar, I’ll be talking about how to foster a continuous improvement relationship with the supplier.
This podcast is based from The Contract Professional's Playbook eLearning Program, if you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below. https://jeanettenyden.simplero.com/
Philip Ideson, 20-year procurement veteran and founder of the Art of Procurement, polled CPOs in September 2020 and learned that even during the Covid pandemic 24% of CPOs are focused on enabling organizational growth. Compare that to 35% who are tasked with cost savings and there are opportunities to grow as professionals to actually support stakeholder business objectives. In this podcast, Phil talks with Jeanette Nyden about the role of procurement during the Covid pandemic to enable growth, how procurement is embracing diversity and the best negotiation mindset for the current times.
I’ll be talking about how you can evaluate the compatibility and trust of your customer/supplier relationship using the CaT® Assessment.
This podcast is based from The Contract Professional's Playbook eLearning Program, if you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below. https://jeanettenyden.simplero.com/
I am focusing my learning series on building strong customer-supplier relationships. My clients are increasingly asking for training and coaching projects that focus on working more profitably with existing customers and suppliers, rather than driving “hard” bargains from new relationships. This first learning session will help you build a relationship based on real value. It comes from a longer presentation on negotiating value at a sales conference – but don’t worry if you are a procurement negotiator. There is a lot for you in this segment too.
This podcast is based from The Contract Professional's Playbook eLearning Program, if you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below. https://jeanettenyden.simplero.com/
If you’d like to learn more about my negotiation skills training and coaching services, please visit www.jnyden.com
This learning session will outline Why companies typically use SLA’s, the three most common reasons SLA’s fail to drive the performance the customer is looking for, the three best practices for using SLA’s to drive supplier performance, and then I offer you a stretch goal of your own.
This podcast is based from The Contract Professional's Playbook eLearning Program, if you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below. https://jeanettenyden.simplero.com/
Until now there’s been no common language or formula for negotiating on value. Start negotiating on value today by using one of the four types of value that purchasing, finance, operations, and sales care about. And, see how one company did the math and demonstrated their value proposition in hard numbers. This learning session is taken from Chapter 8 of Getting to We: Negotiating Agreements for Highly Collaborative Relationships. You’ll not want to miss this opportunity to up the ante to negotiate on value, not just price.
This podcast is based from The Contract Professional's Playbook eLearning Program, if you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below. https://jeanettenyden.simplero.com/
You’ve all been told that to create value in your negotiations and get the “best” deal for your organization you need to expand the pie, not just haggle over the limited and fixed number of pie pieces. But no one has really demonstrated pie expansion – value – for commercial contracts – until now.
Negotiating terms and conditions make price negotiations much more complex. This 10-minute webinar picks up where we left off in Lesson #1 – Mapping the Money Conversation. In this session, you’ll learn how to work with an expanded ZOPA to include T&C’s to your price conversation.
This podcast is based from The Contract Professional's Playbook eLearning Program, if you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below. https://jeanettenyden.simplero.com/
Have You Mastered Price Negotiations?
Successful negotiators trust and understand the back-and-forth process when negotiating money. They instinctively understand and respect that a back-and-forth process is necessary to arrive at a final number.
There are some predictable negotiation patterns when you negotiate the price and only price. Understanding these patterns will give you a tremendous advantage at the bargaining table. January’s learning session will show you how to map out these patterns.
This podcast is based from The Contract Professional's Playbook eLearning Program, if you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below. https://jeanettenyden.simplero.com/
Do You Know How to Stack Rank and Prioritize Tradeoffs?
Many seasoned negotiators “wing” it when making tradeoffs. They assume that what worked last time will work this time. It may not, and a “wrong” tradeoff could have negative impacts on your organization, let alone the long-term viability of the deal.
To be a master negotiator, you should know how to stack rank and prioritize tradeoffs. This webinar will show you a simple process to start you on the path to stack ranking and prioritizing tradeoffs.
This podcast is based from The Contract Professional's Playbook eLearning Program, if you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below. https://jeanettenyden.simplero.com/
Great Price: Bad Deal
Focusing solely on price can obscure the total landed costs, the total cost of ownership, and the value of the good or service to the buying organization, leaving the buying organization with a great price and a bad deal.
Doing some form of financial analysis helps your organization make more holistic financial decisions in customer/supplier negotiations. This is true for the buy-side and the sell-side alike.
Do you know the most common forms of financial analysis used to plan for a negotiation? The problem for many is choosing the right type of analysis. If you want to know what TCO, TLC, Should Cost, Activity-Based Analysis, Best Value Analysis, and TSS mean, when to use them and how they can help you negotiate better deals, watch this webinar.
This is podcast is based from The Contract Professional's Playbook eLearning Program, if you would like to learn more about The Contract Professional’s Playbook and eLearning Program follow the link below. https://jeanettenyden.simplero.com/
If you would like to watch the video follow this link to my YouTube channel to view the video.