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The Bottom Line

For anyone working at a company with a calendar-based fiscal year, chances are that department heads are being asked to “do more with less,” or at least to increase output at a faster rate than costs. As anyone with budget responsibility knows, it’s no easy task to fund realistic pay increases for appreciated employees let alone accommodate growth in other expense areas.

The negotiation process for expiring manufacturer vendor contracts often poses unique challenges. For example, those that have an existing relationship with the incumbent supplier need that relationship to remain constructive, especially since it will be ongoing once the contract is signed. When negotiating topics like price,   this can prove particularly difficult.