Empower Your Business with Full Life Cycle Sales in Vendor Negotiations

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thank you [Music] [Music] thank you so much thank you so much happy to be back up here again for a second time as we wrap up a really special International purchasing conference so once again my name is Omid gamami and it's always a pleasure to be in front of a group of large Chief purchasing officers and directors in the country of Turkey what I'd like to talk about is investigative negotiations and value creation I'm trying to focus on topics that I know make a difference in working with companies and in the public sector as well and so that's really the Genesis for this discussion I won't go through my biography once again you've heard it once before so but suffice it to say that I'm passionate about help making this profession better I wanted to focus on this particular topic because we have a problem in negotiations we have a problem in that there's a self fulfilling prophecy many times we go into a negotiation and perhaps most of the time we go into it saying the supplier wants our money we're going to be fighting over the money and how do we negotiate how do we make sure that we leave there giving away the least amount of money and with the assumption that the supplier is at the same time saying how do we get the most money out of this deal and that this is their overriding objective what happens in fact is if you believe this if you say that the supplier's most important objective is to get the money that's exactly what will happen you will lay out the negotiation the objectives the topics that you discuss and you will carry the negotiation in such a way that it will be all about the money you'll be discussing the money and debating over the money and then you will conclude that you are right it was about the money what I found however is this is very frequently untrue it's very frequently untrue that the supplier is exclusively interested in how do they get your money how do they get the most of your money while they still can during this negotiation and so the purpose of this segment today is how do we find out what else is important to them besides just the money and if we can find out what else is important to them then we can find out ways to make this supplier satisfied without having to give them more money because that's the easy way to satisfy a supplier isn't it anybody can offer to pay a higher price the really good world-class negotiators know how to make a supplier really really happy without having to pay them more and so that's what we're going to focus on um there was probably the most famous economist in the United States anyways from the 20th century his name was Milton Friedman and he has had a quote that I really like he says most economic fallacies derive from the tendency to assume that there is a fixed pie that one party can only gain at the expense of another so what he's saying here is really deep and it has complete application to our field of procurement what it means is if you assume that in order for me to gain the other party must lose then you've not Advanced to the next level of negotiations world-class negotiators understand that this is definitely not the case it does not have to be that in order for you to gain they must lose and in order for them to game you must lose and so if we take a look at this simplified view of the supply chain where you have your suppliers suppliers your supplier you your customer your customers customers uh this is called parasitic value creation and what it means is a supplier you get a supplier let's say you're getting a 15 discount and you get a supplier to agree to a 12 discount well where did that three percent go in order for you to gain three percent they had to lose three percent someplace it's parasitic you achieved a better negotiation result parasitically and so that's different than what I'm going to be talking today I'm going to be talking about how do we not just move costs back to the supplier make them eat the costs and then we claim victory how do we instead develop strategies that are based on the suppliers very unique needs and requirements you cannot assume you know what's important to a supplier and once you find out and we do that how through investigative negotiations which will be the topic here you use that information Nation to create ideas to invent options that create value and create value for both parties so that it's no longer parasitic so here's what happens now the goal is to remove costs from the supply chain this is everything I focus on how do we take the costs that don't belong there or that we can streamline or that should have never been there surgically remove them and take them out both parties win in this scenario however frequently we find ourselves fighting over profit that little peace between you and the supplier that says can you make three percent less can you make four percent less it's supplier profit compression once again and then what happens is your moving costs so if you achieve that three percent cost savings the supply chain itself still did not change the cost going through the supply chain did not change you just parasitically benefited by three percent so the other party would have to lose by three percent in order to support that and so before you embark on this kind of strategy the first thing you have to do is you have to understand these three circles here it's extremely important in fact this is not just for negotiations with suppliers this is any kind of negotiation with anybody what we have is issues positions and interests and what it it turns out that most people tend to focus on issues and positions in negotiations and this becomes a fatal flaw this becomes a fatal flaw that makes negotiations fall apart with the issues these are what the topics the topics that the parties want to discuss lead time pricing warranty inventory models all of these kinds of things then you have the positions which is where each party stands on those topics I'll give you two percent lead time I'll give you 18 discount I'll have a vendor managed inventory model whatever it is and we tend to stop there we send out the tender and we say these are the things we want to discuss send you back they send you back the response and they've responded to those things well you've only covered issues and positions you have not yet covered interests the interests are the underlying needs and wants that are not readily evident they're not evident and I promise you the interest will never come out in a traditional negotiation interests never come up accidentally they never come back in a bid response from A supplier the only way you can get interest is if you dig deeper and you find out what is going on with them it requires research it requires questions but the good thing is this allows you to take the pie this negotiation pie and make it much bigger and to create other pies and so the process of adding interest does not take much longer but it can add so much tremendous value to the negotiations I'd like to share with you an example here this is the largest cut stone in the world it's in Lebanon I was there on business and my client was nice enough to book me a tour for the day and one of the places we went to was to see this Stone now this stone is at the bottom of a small Canyon in the middle of this city okay and what's interesting is they thought for many years that this was the world's largest cut stone until they started digging around it what you can't see is they found out the world's largest cut stone is actually underneath this one so underneath one this one there's one that's even bigger than this now for 40 years for many years nobody cared about this Stone and what happened was this became a trash dumping site it was filled to the top with trash and for 40 years one man just one man from the military was upset about this and he said this for Lebanon is a National Treasure why do you throw trash on it it's the world's largest cut stone it's a thing of beauty still people through trash so for 40 years he cleaned this for 40 years he had equipment with his own money every week he would clean it out he would go through the trash and look at the receipts to find out who put the trash he'd go to their home and say please stop throwing away the trash nobody stopped for 40 years he went to the government and said please do something and they said we have bigger problems nobody stopped after 40 years for the very first time because he was getting old and he was getting tired he decided for the very first time to start asking people why are you throwing away the trash here he never asked why for 40 years he only asked he asked well he cleaned for 40 years finally he asked people what is the reason what is the root cause that nobody will stop what he found out was something so simple that he should have found out or asked 40 years ago there was no trash service there was no trash service for this city and so what he decided to do was he created the trash pickup service and he would go to everybody's home and pick up the trash and go and take it to a very far dump and then the people who didn't have money to have their trash picked up he would pick it for them too but he'd just say don't tell anybody please that little house that you see up there at the top is his now and he uh gives away souvenirs and he's so proud to have this place but it took him 40 years to find out what were the interests of the people for 40 years he talked about the issues and positions the issues were to dump trash or not to dump trash and the positions of this people of the city were we will dump trash and his position was we will not dump trash the underlying interest was what was critical in solving this problem people did not actually want to dump trash here they just wanted to have a service something that would take it away they lacked that and so they felt they had no other option but to fill this up I'm indicating this store I'm telling this story to you so you see how easy it is to go through the longest most difficult negotiations and how you can without ever talking about anything other than issues and positions and then once you start getting into underlying interest then you can have really big breakthroughs now this place is clean always another story there was a medical development happening in London and they had purchased this very large plot of land and they had bought the land from so many different people from their they had gotten the people to sell their residences and then they were going to put up this gigantic medical clinic but one lady would not sell she would not sell and so the CEO said well offer her more money and they kept offering her more money and offering her more money and offering her more money and she still would not sell it got to a point where they thought they could never give her enough money and so what was happening was they were focusing on issues and positions in fact they assumed that they knew what the issues were and that they that and based on that they negotiated and they figured the issue was money and then how and the positions were she wanted much more and so they tried to keep meeting that need finally when the figures got so high the CEO said enough is enough and he went out personally to go meet with this little old lady and he said can you help me understand why you don't why you aren't selling your house how much do we need to give you and she said my husband died a long time ago I have enough money to live my life the only thing I have in my life today is my pets behind this house is my little dog she was buried there I cannot let you build a hospital on top of my dog and he said that's the issue why you're not selling and she said yes nobody had asked her why everybody assumed she wanted more money he said you know what how about if I have your dog a very very respectfully transported over to a very nice cemetery and I make the nicest pet cemetery you have ever seen for this dog would that make you happy she said that would mean the whole world to me she didn't need all that money she just needed her pet transported nobody everybody assumed what the negotiations was about it wasn't about the money but everybody failed to ask her so they never found out it wasn't until somebody went and sat face to face with her that it came out focusing on the interests the state of Oregon has a very nice Capitol building and they had a problem the problem was at night time they have lights everywhere around it's not really a problem it's beautiful they have lights on the statues lights on the trees lights on the sides of the buildings it's very very nicely illuminated and largely ornamental the problem was the state the governor was telling everybody in the state stopped using so much electricity we need to reduce electricity usage stop using so much meanwhile they were using all this electricity to light up the capital and so they thought this doesn't look good you know it doesn't look good we're telling everybody to use electricity and we use more than anybody else and so they thought okay we should get solar well that's an easy answer except they didn't have money for solar there was no money to go and put solar there and so they thought about it and thought about it and said you know how how can we do this because if we want to put solar here obviously the solar provider will want money to put it here they thought about it some more and then they decided maybe there's things the solar providers value other than money and so they publicize the bid that they said come put solar all over the state capitol for free and we will advertise on our website for a short period of time and we will send out a couple of tweets indicating that you are the company that did the solar for the entire Oregon State Capitol sure enough all these companies lined up to lose money to do this for free just to have their name on the website for a couple of months someplace and have to have two tweets sent out for this they were able to get solar the point is it was not limited to issues and positions being tied to money the interests once the underlying interests were understood these suppliers were much more inter interested in advertising and getting their name out there and being affiliated with the government than they were in getting the money for solar I've noticed recently even in airport security I don't think it's happened yet in Turkey maybe you'll tell me it has but in the United States one airport after another after another is now starting to use these security bins as advertising and they're selling the space have you started to see this over here it's everything who says procurement cannot generate be a revenue generator we talked about some examples earlier but there's really no end to how we can think about what satisfies suppliers what are some of their unique requirements that we can fulfill in order to generate value for us and also for them without doing so parasitically here's a company called agar and what agar does is they build commercial buildings except they make them out of wood it's a very unusual sort of line of business that they're in it requires a special type of wood they get the wood shipped they receive it from two different suppliers if I recall correctly and I might be wrong but if I recall correctly these two suppliers are in Germany regardless these suppliers are from out of the country and Ager noticed that every time they would meet with one of the suppliers the suppliers had a presence there this was also in Lebanon the supplier had a presence there and they could meet at the office and so forth but with the other supplier they noticed every time they met with this other Lumber provider that the supplier would have to fly in and would come in only with their handbag or with their suitcase but never was there in office and Ager thought about it and thought about it meanwhile they had developed this new customer center you can see some pictures of it here it was a very big Center State of the art they had presentation rooms they had demonstration rooms they had seminar rooms they had customer all sorts of different rooms and the utilization was very good but it was not 100 percent and they thought about it and thought about it and they realized what are this suppliers problems the one that's flying in must be suffering with not having a presence here every time we want to meet them they have to fly from their country to our country and then have many inconveniences as a consequence of not having a presence here and so they went back to this supplier and said is it a problem for you that you don't have a presence here but you come here to do business and they said it's a tremendous problem how did you know they said because our other supplier has a presence here and so we just assumed and so Ager then said did you know that we have this beautiful Customer Center set up and if would you like to use some of the rooms at times when we're not at full capacity if you book in advance and you give us flexibility would that be of interest to you and this Lumber supplier said that would be tremendously beneficial to us and then agar said and then what about maybe you could use some of your wood to build the demo for us like this what you can see there and then with this wood you create a demo we can use it and you can use it too you're showing off your Lumber we're showing off our structures would you want to do that they said we would love to do that and so is this something that would ever come about in a traditional tender process never is this something that would come about in a traditional negotiation never guess how much discount they got for allowing this supplier to use their Customer Center when they're not using it another 50 discount on top of the already aggressive discount scheduled that we're getting from this supplier they achieved and so this was probably their most expensive raw material component and now on top of the very aggressive discount they have they're getting another 50 percent it's all because of investigative negotiations and paying attention to what problems does this supplier have how can I help them how can I create value for them and then how can I get financial benefit in return in such a way that they're very very happy about it now this is a Turkish example I left the company name out but you can probably guess who it is there's a uh very famous Turkish soft drink and uh fruit juice company uh here in Turkey it's a global company but they have a very strong presence here in Turkey and they always bought their fruit and their sugar raw materials during the peak season which only makes sense that's pretty much when every such company buys their raw materials and then there was some problems uh at the costs were high because you buy when everybody else is buying the and there's a limited amount and then the Leverage is low because you're competing with everybody else and then because of certain legislation that they're subject to they could not Source these raw materials from outside of turkey they had to bite inside and so that limited their options sourcing from the another country was not an option so what did they do they started to speak with the suppliers to find out not what their own problems are but what are the suppliers problems what is the supplier struggling with what they found out was this supplier's income predictably had Peaks and valleys they had periods where they were making lots of money then they had periods where they were making much less and so what they agreed to do was to start making payments during the growth season they said what if we paid you when you're planting and what if we paid you when it's the beginning of the season what if we paid you when it's your lowest income season there is would that make a difference for you they said that would really help us solve our problems and so now they don't try to compete with everybody else to get the sugar and to get the pulp of the and the fruit and all these things when they're ripe they pay the money completely off season when these suppliers are only spending money and receiving very little income as a consequence they achieve two things they the they the buying company the soft drink and Juice manufacturer they were able to secure the allocation they needed and not have to worry about it come Harvest Time that's a b they were able to get a much better pricing model than what they were getting before and on top of that they have a supplier that was eager to give a discount this is so important because when you squeeze a supplier for profit they're usually not eager and frequently they figure out other ways to get their money money frequently whenever they you need a favor from from them they'll give you a bill frequently they prioritize you less it because they're not happy that they had to give you the same thing as before but for less money in this case it's it's the same thing as before but there's additional value created for the supplier and in return for that value they're more than happy to make less and so what the procurement professional has to do and what you need to have your people be doing is they need to be doing research what kind of research do you do well first first of all pre-negotiation meetings with the supplier and I'll give you a list of questions to ask here soon there has to be pre-meetings where it's discussed and focused on not only what is the supplier really what does the supplier want to achieve besides getting your money essentially what else is valuable about this deal besides the money and here's the thing you should prepare to be surprised prepare to learn things prepare to find new information the second thing is you should be researching news articles about this supplier and you have to learn how to read in between the lines what is causing them problems where did they need to try and improve where are they trying to penetrate then reading executive interviews seeing what the executives are saying Executives for that division Executives for that company areas where they need to see growth areas where they want to improve you have to be thinking how do I create value is there something I can do differently to help them out then analyst reports what are the analysts identifying annual reports what are the things annual reports will always talk about the things that are working and the things that are not and you have to go straight to the things that are not and say do any of those tie to the business we're doing with them can I help them or potentially you might be able to help make phone calls even offering to make phone calls to somebody in a non-competitive industry tell this supplier you do see six months of great work for me and you give me this special pricing I will make three phone calls to non-competitors to help recommend you in that industry looking at asking their employees and interestingly enough people think that the more senior of a person you talk to inside the supplier the better answer you'll get in my experience it's the complete opposite it's the more Junior person that's more likely to to provide information and to be free with the information that you can find out exactly what's going on and then internet searches of course searching to find out more about the company what their priorities are where their challenges are any internal documents we may have from prior negotiations prior discussions with this supplier and if there's anybody who has prior experience working with them or maybe even working for them all of these are parts that we have to reset expectations because if the entire negotiation strategy is architected to say how are we going to make sure we get the lowest price then you are missing a really big opportunity with value creation and value creation can only be done with investigative negotiations and research up front and so it gets to this point here which is we've been taught that the best negotiators Nick Wilson best negotiators are good talkers it's not true at all the best negotiators are really good listeners they listen carefully they ask questions and do you know what the three most powerful words are in negotiations it's helped me understand when you say help me understand it engages it brings down the defense shields you gather information and so always focus on listening how can I listen more and find out more and so this is the biggest overlooked piece of negotiations which is looking at what are the other side's priorities what keeps them awake at night you really have to understand this and here's how you have to look at it as you listen to them and you ask questions about what they're struggling with what's working where they want to accomplish more you are developing currency just like mining for Bitcoin you are developing currency and this is how you have to think about it the more you can find out about where they disagree where they have challenges where they're adamant where they really want something where they want to improve all of this is currency and why do I call it that because if you can help them in those areas well surely you won't do it for free now you know you've developed these things that maybe you can help them but you'll say what can you give me in return for this what kind of discount can you give me how can you improve my inventory model if I give this to you it's all currency and so that's how you have to view the mining just like with Bitcoin you're trying to do Mining and you're creating currency um and then you're going to have to think differently about differences and so with negotiations we're frequently looking to say to look for harmony between the parties and how can we come to agreement and how can we find out where we have all of our Common Ground I'm telling you to do the exact opposite I want you to find out where you have all of your differences every single point of difference creates currency creates value I'm not saying you can do everything for them but you're I'm saying you should look for the things where you can and if they really are adamant if they say no we have to have this no we have to have this how much do they value it find out because the rule in negotiations is whoever values something more gets that item the goal is not to win everything the goal is to transfer Assets in negotiations to the party who values it more and then you maximize what you get in return I'll tell you a story that I don't have in this slide deck one of my clients is in the cash management management management business and supports Banks and many other businesses and they had operations in Australia and in Australia it was very expensive to have armed people with guns transporting cash and going into the machines because the criteria for having a for being able to have a gun in Australia was so rigid was so difficult was so uh so hard to achieve and get approved for that the number of people who could carry a gun was very very low as a consequence these people were paid a lot of money and so the cash transfer and cash protection business was a very expensive business that this my client was operating in Australia among other countries but in Australia it was so expensive then the legislation changed and they made it cheaper to own it not cheaper easier to own a gun the restrictions the requirements all of these things and so my client went to them and clearly they asked for a much better pricing because now their costs are going much down and instead this supplier instead of saying sure will work with you our costs go down went down we'll share it with you instead the lawyers got involved from the other side and they started sending cease and desist letters and do not have these conversations with us we're not interested in pricing discussions lawyers were sending these letters and they couldn't understand why and they kept saying Come on negotiate with us your prices went get went down give us a better deal again letters from lawyers came and so they didn't know what to do then suddenly this company got bought out by another company and they found out and then their supplier admitted it after they got got bought they said listen what you didn't understand was we were trying to sell our company if we gave you a big price cut it would immediately diminish the value of our company they would figure out that the market in Australia is going to be that our income in Australia for these services will go down dramatically we could not entertain this discussion with you understanding this they waited till the ownership changed as soon as their new company was in charge they went to them and said listen the costs have gone down please share that profit with us and the supplier said of course we will that's the only right thing to do nobody so it was the interests that were behind this negotiation there were impeding progress you always have to ask questions in this case they were so adamant and if they're so adamant there's something there it's your objective and initiative to find out what it is another story from Turkey I think you're really going to like this one so of course you have a very big textiles industry here in Turkey now one of your textiles companies was negotiating with Dupont for many many many years for Lycra and they weren't getting anywhere even when their volume increased Dupont would not give a better price they kept going to the negotiation table Dupont said this is it this is your price it's not going lower and this company was pulling their hair out how much business do we have to get them to give them to get a better price and so finally what they did they said we have to think about this problem differently and they thought about it differently and then they realized you know in conversations with Dupont and through reading through industry research that Dupont had a problem with Lycra and the problem was there's no such thing as a like as Lycra clothes you buy Adidas you buy Reebok you buy Nike you don't buy a Lycra pants or a Lycra shirt right and so they realized that Lycra and based on their research it supported this Dupont was concerned that Lycra would lose its brand value because it's going into somebody else's product with somebody else's name so they realized okay this keeps my supplier awake at night they're afraid that they're losing brand value because nobody's buying Lycra clothes they're buying somebody else's clothes how do we resolve this problem and so this Turkish textiles company got very smart and they went back to DuPont and said we have a proposal for you that we think you're going to like they said what about if we start putting marketing this product as being Lycra and putting a big logo in front with your name on it and Dupont got so excited they got so excited this is not the actual picture of what ended up getting used well and Dupont had other ideas they said okay let's really turning into an advertisement they said let's have the Lycra logo and then let's put product characteristics underneath UV UVA resistant UVB resistant sweat absorbent it said all three of those things and so I asked the lady what kind of discount she got for this and truth be told I thought this was not enough she said I got a five percent discount uh for allowing them to put this and I really thought it was worth much more however guess what happened after about a year can anybody guess after a year she went and looked back every single product she put this on experienced an average revenue increase of 55 percent and a 55 sales increase those products that had this Lycra logo with the UVA resistant UVB resistant sweat absorbent had a sales increase of 55 percent on every single one it went on look how much value was generated for both parties and so it turns out the five percent discount was nothing compared to the 55 percent in additional sales and of course what does that mean they had to buy that much more Lycra as well so Dupont won in that transaction as well and so the message I'm sending to you and I wanted to have some of these Turkish examples the message I'm sending to you is you are getting paid to create these options you are getting paid to do this research you it's not enough to get a tender and to negotiate price lead time warranty and so forth this is not enough anymore you have to be creative and you must find out what specifically is eating this supplier what is causing problems for them and so the new paradigm the new way you have to think about things is you have to get excited about supplier demands and so today we have this uh and it's really I don't blame you when a supplier makes all these demands it's really tempting to just sit there get upset and say okay how can I get out of this how can I avoid this what strategies can I come up with to get out of these demands instead I want you to get excited and say what can I learn from this based on all these things they keep telling me there must be a reason why this is important to them how can I keep digging further how can I find out more and how can I build currency from this and if they value it so much if I'm certain that they value it more than me then I'm going to find a way to give it to them but they will have to pay for it they will have to give me a very generous discount or something else that is commensurate with the value they place on it which is more than the value I place on it that's why you want to give it away and in doing so you're taking this tender with price quality lead time warranty and you're creating other options and more pies and you're not just trying to squeeze this and get as much as you can out of that bid you're trying to make it bigger and you're trying to make the pie bigger and so here's how it goes when you're looking at the supplier's bottom line positions what are frequently called the reservation values it means what's the lowest they're willing to give the best warranty the the lowest lead time the biggest discount you know you can just ask them what are all your bottom line positions I wrote here you can't ask because you can ask but you won't get a truthful response nobody answers that question truthfully this is the lowest we'll give on everything so instead you have to investigate here are the things you can ask besides the revenue how does this deal contribute to your Division and Company objectives if it what else are you what else is valuable to to you in working with us except for our money you must ask this question then you might find out well we really want to penetrate into turkey or we really want to get into this industry are we really you know this product is struggling what are the biggest challenges you're trying to tackle this year and are there one or two Thorns one or two things that are really bothering you so you need to find out what are their priorities what are the things they're struggling with what are the problems they want to surmount what outcome from this deal with thrill your management and why you know you'd be surprised how many times I was in a negotiation and the supplier was more interested in how many years the deal was than what the pricing was so I could give a three-year deal or a five-year deal and even if I had termination for convenience which means I could wake up tomorrow and cancel the contract for no reason at all they didn't care they valued the length of the deal just so they could tell management I got a deal this long much more than the pricing it may not make sense to you but it doesn't have to make sense you have to do your research and find out what they value it's not what you value it's what they value and then what are the top success metrics your group is measured on you know it's interesting in the U.S when you go to buy a car a brand new car one of their top metrics is what score you give it on uh the customer service report and and so it's I didn't I always go at the end of the year to buy new cars because the other thing they care about is the following year the number of cars they get from the manufacturer is based on a what scores they got on customer surveys and B how many cars they sold at the end of the year all they care about is getting cars off the lot at any price at any price they want to get it off the lot they'll lose money on the cars because their interests have changed their interests have changed how would you rank your various positions you offered in the quotation in terms of value to your company so don't be surprised if they rank pricing below something else you have to find out what are the positions you know even if it's limited to the things on the tender how do they rank them in terms of importance and then you know whichever ones are the most important if you give something away in that category you can get the most back too because you have their ranking and what they place on it in terms of importance and so you want to make low-cost high-value trades where your the cost that you're incurring to give something away is low but the value the supplier perceives that they're getting is very very high when you do that kind of thing that's when you get the best sort of deals where it doesn't cost you month much but you're gaining tremendous value yourself and so I had mentioned this before but this is really really important the goal is not to transfer all the assets to yourself in a negotiation the goal is to transfer the assets to the person who values them more and you will never know who values them more unless you do investigative negotiations and so the message here is loud and clear I want to say it again you are getting paid to invent options and negotiations that is your job and as Chief purchasing officers you need to impart this to their staff they cannot live and limit their options to what's on the quotation they have to think out of the box and then invent options like what agar did inventing the options to let them use their customer service center don't assume suppliers are only interested in your money investigate not only what their interests are but their problems also what their needs are invent options that make the pie bigger and then make sure we never give anything away for free even if it costs you nothing make sure you are always arranging for a trade and you're getting a high value concession in return and so what happens next is is in your hands everything I've talked about today is actionable these are things that you can start doing and it's my request my ex expectation that as senior leaders you have an obligation with seniority comes accountability and the accountability is to take these kind of strategies and act on them and not only role model them communicate it to your staff and help create a new operating Paradigm because there's money on the table that we leave every single day both with the things we talked about earlier today and also with this if you don't do this you will leave money on the table with every single negotiation and your suppliers come out happier with these kind of outcomes because you've looked for other ways to make them successful so with that I want to thank you very much I invite any of you to contact me later if you'd like to collaborate in any fashion or just discuss things but thank you very very much for having me in one of my very favorite countries thanks again please thank you [Applause] so much thank you very much thank you so much I appreciate it thank you again [Music] thank you