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Purchasing Power…

Brexit is around the corner – how will the UK fare in this separation? And how will the world measure the success? And importantly – what can we all learn in business from this incredible experience? The main skill required by the UK representatives in Europe (and globally) is the ability to negotiate, and to negotiate well. What are we learning from watching the politicians go through this process, and does the UK have the ability and confidence to purchase powerfully? Is the ability to negotiate or barter becoming a dying art? And what impact has ‘online purchasing’ contributed to the possible decline of this skill?

In the world of travel, the act of going to RFI or RFP for the best ‘negotiated’ rate for a product or service has been historically how corporate and global mobility buyers have procured their products. Today, however, the RFI/RFP is just the starting block. For a large buyer, the process of choosing ‘the right’ solution can take up to 2 years. Even after the contract has been awarded, the time needed to confirm the contract terms, review legal requirements including insurances and HSSE, and create the local/ global SOW’s can take the procurement and buying teams a further year. These points considered, the time that’s been allocated for the Brexit negotiations somehow seems a little challenging, even if you have the strongest and most experienced negotiators at the table.

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