Negotiating for Value – lessons from the medical device industry

Negotiation is far more than getting the best price. Many procurement specialists, especially in the medical device industry, focus too narrowly on money when dealing with suppliers. Whether you’re buying stents, joints, or replacement parts, or need to fulfil contracts, you need to include the critical variable for any negotiation — value. Following are seven lessons derived from experience working in the medical device industry that are applicable across a broad range of industries.