My Name: YanYan Jiang
My Teammate’s Name: Cody Colvin
Counterparts’ Name: Nick, Nicole
Negotiation Exercise: Supply of Semiconductors
On Thursday, I and Cody, acted as the members of SCS sales team, were negotiating with ADX to make SCS become one of its suppliers who provides a minimum of 350,000 semiconductors annually. Knowing that ADX demanded potential suppliers who could ensure product’s quality as well as frequent and on-time delivery, we felt confident to beat our oversea rivals who had bad delivery services. Hence, we offered an opening bid at $76 and $64 for our current generation and new generation of semiconductors, while targeted to sell them at $73 and $62, and demand reservation prices at $72 and $57, respectively. However, during the negotiation, we surprisingly found that the ADX management were not allowed to accept any deals above $60. Eventually, ADX accepted one of our alternative offers to buy our current generation at a low price of $57, while giving multi-year contracts, less frequent deliveries and a higher annual demand volume of 450,000. In this negotiation, both sides adopted a collaborative strategy as we demand each other and request a good relationship for now and future while respecting the others’ goals and concerns.
During the negotiation, I observed two things that could be valuable for future negotiations. The first one is to discuss all of issues simultaneously and make multiple bundled offers for the counterpart. Bringing everything on the table at the same time not only benefits negotiators to understand the other side’s true interests and priorities, but also give them an opportunity to ask for reciprocities on other issues when making concessions on one ...
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...deal counteroffers that meets everybody’s expectations. Leaving the table not only makes sure negotiators stay on the same pages with their teammates, but also produces better outcomes after thinking and communicating. My only suggestion for them is that they could consider more strategies depending on situations instead of sticking with a competitive strategy. In the negotiation, they came up with an offensive and unreasonable counteroffer at $40 initially and stayed with it after we demonstrate the collaborative situation and compared our fair offer with their less attractive BATNA with the East Asian company. Admittedly, confrontational and aggressive offers could make the other side revise their concessions or their reservation point. Nevertheless, it could exhaust people’s goodwill and time to discover integrative possibilities in a potential collaboration.
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