Why is negotiation such an important part of the purchasing process? (5 points) 2. Develop a profile of a skilled or effective negotiator and explain how this profile is important for negotiating a contract (10 points) 3. Discuss the concept of BATNA and explain how a negotiator can effectively use it to plan a negotiation. (10 points) 4. You are negotiating terms with a supplier of a critical component in your manufacturing process. You receive 100 units monthly. You project needing 150 units for the next 6 months and perhaps as many as 200 units ongoing after that. You've been satisfied with the supplier's quality, however there have been two occasions where late deliveries have forced overtime to meet customer commitments. An out of state vendor has offered you a 20% discount for the 200 units per month for a one year contract. Analyze the power factors, set up your negotiation strategy, walk through a scenario as to how you would approach your current supplier for a price reduction. (25 points)