DISCUSSION: Price

Please respond to the following:

• Explain what would you do when your longtime supplier will not lower its current prices. Assume that this supplier provides the best product/material that you need.

• Discuss when you would always select suppliers/bidders based on price. Assume that all bidders are similar in quality and services, why and why not?

• Describe how one can engage a supplier in a negotiation with a price expectation. Relate your experience in purchasing a car, for example. Provide at least two scenarios to your explanation

DISCUSSION: Cost Management

Please respond to the following:

• Describe three key concepts you consider most important in the total cost of ownership.

• Describe how price discounting would influence the understanding of purchasing as a profit center.

• Explain what and how a small business can apply and benefit from the strategic cost management. Give at least two examples.

• Describe one of your business negotiation experiences. Explain how your negotiation impacted directly and/or indirectly to the profit and/or the expense of your company or organization. If you do not have business negotiation experience, describe one business negotiation experience you observed or learned about.