In negotiations a target represents an objective or range of objectives for a specific negotiable issue. For example, if a buyer has a budget of $100 and the lowest supplier offer is $105, the buyer may set a target for the purchase price below $100. Some commentators believe that negotiators should set a range of objectives, such as an ‘ideal’ target, a ‘realistic’ target and a ‘walk away’ target. See also Target, Ideal and Target, Realistic.
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Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and procurement consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
