Negotiating Payment Terms with Suppliers

Walkthrough these guiding questions to formulate your negotiation strategy with suppliers to extend payment terms.

ANALYZE THE MARKET AND YOUR SUPPLIER

GUIDING QUESTIONS	YOUR RESPONSE
Which industry is your supplier in operating in?
Which country does your supplier operate in?
Are there any specific forms of communication to consider?
Are there any statistics to prove that you are taking more risk?
Are there any statistics based on country and industry to prove you need an extended period of payment?

 

SET GOALS FOR YOUR NEGOTIATION

GUIDING QUESTIONS	YOUR RESPONSE
Why do you want extended payment terms?
By how many days do you wish to extend the payment terms?
What do you wish to gain in the short term?
What do you wish to gain in the long term?
What is the maximum you can offer to the supplier in return (in terms of cost)?
What is the additional risk you can take?
What are you willing to offer to the supplier?

 

DOWNLOAD FILE