Strategic Sourcing: Fact-Based Negotiation (FBN)
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Fact-based negotiation is a process for seeking a win-win outcome in negotiating in procuring specific category of inputs. It is based on two fundamental principle of collaboration and leverage bargaining that are guided by facts through a series of analyses. This chapter details a step-by-step approach in performing a fact-based negotiation. It includes negotiation tactics that will allow buyers to persuade the suppliers to comply with the negotiated deals.