Sharpen your contract negotiation skills and discover new tools to increase positive results.
In many industries, relationships with key suppliers have a dramatic effect on the success of a business. This is especially true when a company faces cash flow challenges. Accordingly, it is important both to understand your relationships with your suppliers and to foster productive working relationships. Vendor pricing often differs widely among customers, so it is critical to profitability that businesses negotiate the best prices possible. There are many components of a vendor contracts that can be negotiated, such as contract length and payment terms. This discussion will help you to understand the building blocks to successful vendor relationships, including but not limited to communication, effective pricing research, and collaboration.
Learning Objectives
- You will be able to explain why it is important to understand your relationships with suppliers and encourage productive relationships.
- You will be able to review critical components to a vendor contract and the items that can be negotiated.
- You will be able to describe tools to make your vendor your partner.
- You will be able to discuss pitfalls to avoid that can deteriorate vendor relationships.
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Critical Components to a Vendor Contract and Items That Can Be Negotiated
Developing Relationships With Key Vendors
The Benefits of Providing Deposits
Effective Market Research to Assist With Pricing Negotiation
Tools to Make Your Vendor Your Partner
The Pitfalls to Avoid That Deteriorate Vendor Relationships
Methods to Learn About Vendors From Customer Research
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
Live Webinar Registration
- CPIM/CFPIM/CSCP 1.0
- This program may qualify for 1.0 certification maintenance points toward the CSCP, CPIM and CLTD designations through The Association for Operations Management.
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.1
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.1 hours credit.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- IN CLE 1.1 (Pending)
- This program has been submitted to the Indiana Commission for Continuing Legal Education for Distance Education for participating attorneys. Application Pending.
- MN CLE 1.0 (Pending)
- This program has been submitted to the Minnesota Board of Continuing Legal Education. Approval pending.
- MO CLE 1.3
- This program has been approved by the Missouri Bar for 1.3 hours of CLE.
- MS CLE 1.1 (Pending)
- This program has been submitted to the Mississippi Commission on Continuing Legal Education. Approval pending.
- NC CLE 1.0 (Pending)
- ND CLE 1.0
- This program has been reviewed by the North Dakota Commission for Continuing Legal Education and approved for 1.0 hours of CLE credit.
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 60 Minutes.
- NJ CLE 1.3
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.3 hours of total CLE credit.
- NM CLE 1.0
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.0 hours of credit.
- NV CLE 1.0
- This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hours.
- OH CLE 1.25 (Pending)
- This course has been submitted to the Supreme Court of Ohio Commission on Continuing Legal Education for 1.25 CLE hours. Approval pending.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- TN CLE 1.08 (Pending)
- This program has been submitted as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.08 hours of credit.
- VA CLE 1.0 (Pending)
- This program has been submitted to the Virginia Mandatory Continuing Legal Education Board for 1.0 CLE credit hours.
- VT CLE 1.0
- This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hours of CLE credit.
- WA CLE 1.0
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of Law & Legal Procedure credit.
- WI CLE 1.0
- This program has been approved by the Board of Bar Examiners for 1.0 hours for use toward the Wisconsin Mandatory CLE requirement.
- WV MCLE 1.3
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
- ISM 1.0
- Participants who successfully complete this program will receive 1.0 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
CPE 1.2 including Production 1.2
- Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Production for 1.2 hours. Prerequisite: basic knowledge of purchasing contracts. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
OnDemand Course
This course was last revised on October 9, 2019.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Who should attend?
This live webinar is designed for purchasing managers, contracting and materials managers, buyers, project directors, controllers, accountants, and attorneys.
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Faye C. Rasch
Law Office of Faye C. Rasch
- Current practice emphasizes all components of insolvency law and creditors’ rights. She represents creditors, debtors, and committees through all phases of Chapter 11.
- Negotiating with vendors is a key component to the success of distressed companies. She has successfully negotiated with vendors in a wide variety of businesses, including but not limited to, fish processing, rock mining, real estate development, and skilled nursing.
- Has successfully reorganized numerous businesses with cash flow challenges that went on to be successful and profitable.
- Earned her B.A. from New York University, New York in 1999, her J.D. from Fordham University School of Law in 2002, and her M.B.A. from Pepperdine University in 2007.
- Member of the State Bar of California, the State Bar of New York, the State Bar of New Jersey, the American Bar Association, and the Los Angeles County Bar Association.
- Contact information: [email protected]
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Why Lorman?
Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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