The EM Normandie Dubai campus recently hosted a truly enriching session led by the highly accomplished Ms. Vidya Malkani, Managing Partner at VMC Consulting Services. Ms. Malkani, the esteemed recipient of the CIPS Procurement Leader of the Year 2023 and Global 200 Women Power Leader 2024, delivered a focused workshop on negotiation and contracting, directly impacting the students’ understanding of procurement processes.
A Deep Dive into Negotiation Strategies:
Ms. Malkani’s extensive experience across diverse sectors—including oil & gas, retail, media, higher education, and banking—provided a unique perspective. She presented structured negotiation frameworks such as BATNA and ZOPA, demonstrating their practical application in real-world scenarios. Her insights were further enhanced by the use of spend analytics and KPIs, highlighting the importance of data-driven contract design.
Real-World Application and Risk Mitigation:
The session was not merely theoretical; it was highly practical. Ms. Malkani illustrated risk-mitigation strategies using MENA case studies, focusing on critical aspects like force majeure clauses and SLAs. Students actively learned to develop comprehensive negotiation plans, optimizing cost, quality, and service terms through analytical tools.
Key Takeaways:
- Mastering Negotiation Frameworks: Students gained hands-on experience with proven negotiation strategies like BATNA and ZOPA.
- Data-Driven Decision Making: The session emphasized the use of spend analytics and KPIs for informed contract design.
- Risk Mitigation: Ms. Malkani provided practical strategies for managing currency, delivery, and performance risks.
- Strategic Procurement: Students learned how to enhance the efficiency, resilience, and strategic value of the procurement function.
A Transformative Experience:
The session with Ms. Vidya Malkani proved to be a transformative experience for our students. Her expertise and engaging presentation style left a lasting impact, equipping them with the skills and knowledge to excel in the dynamic world of procurement and negotiation. We extend our sincere gratitude to Ms. Malkani for sharing her invaluable insights and expertise with our students.