Imagine you are the manager of a company tasked with selecting a vendor to purchase an Enterprise Resource Planning (ERP) system. Write a 200-word essay discussing the steps you would take to secure the best price for the ERP system. Consider the importance of thorough research, negotiation skills, and effective decision-making in the process. Explain how you would conduct market research to identify potential vendors and evaluate their reputation, experience, and customer reviews. Describe how you would request and evaluate detailed proposals from shortlisted vendors, focusing on system functionalities, implementation plans, and associated costs. Discuss the strategies you would employ during price negotiations, emphasizing clear communication of your company's requirements and budgetary constraints. Explore the possibility of bundling services or modules to maximize value and minimize costs. Highlight the significance of seeking competitive bids and comparing offers to leverage pricing disparities. Finally, emphasize the importance of carefully reviewing contract terms and conditions to ensure they align with your company's needs and expectations while also considering factors such as implementation support, maintenance costs, and potential future upgrades. By following these steps, explain how you would increase the likelihood of obtaining an ERP system that meets your company's needs while optimizing the investment.