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OKR template to negotiate better pricing with vendors early in the project

public-lib · Published 4 months ago

Your OKR template

The overarching goal of this OKR is to secure better pricing with vendors early in the project's timeline. The first objective focuses on finalizing early-project contracts with vendors at reduced rates by week 8. Initiatives to achieve this include negotiating contracts and rates with each vendor, securing vendor contracts by the 8th week, and identifying all necessary vendors for early project completion.

The second objective centers on building relationships with five key vendors by the end of week 3. This will be achieved by identifying and shortlisting five key vendors relevant to business needs, initiating formal contact with these vendors, arranging meetings, and a follow-up to solidify relationships and discuss potential collaborations.

The third objective is to achieve at least a 10% reduction in pricing from each vendor by week 6. The initiatives enlisted to reach this objective include analyzing current expenditure with each vendor, obtaining written commitment for new prices and initiating negotiation talks for discount prices.

Overall, these initiatives tend to improve the company's cost efficiency through vendor negotiations and establish strong vendor relationships. Moreover, these strategies are designed for timely execution, ensuring that cost-saving measures are implemented early in the project.
  • ObjectiveObjectiveNegotiate better pricing with vendors early in the project
  • Key ResultKRFinalize early-project contracts with all vendors securing reduced rates by week 8
  • TaskNegotiate contracts and reduced rates with each vendor
  • TaskFinalize and secure all vendor contracts by week 8
  • TaskIdentify all vendors necessary for early-project completion
  • Key ResultKRBuild relationships with 5 key vendors by the end of the week 3
  • TaskIdentify and shortlist 5 key vendors relevant to our business needs
  • TaskInitiate contact and arrange meetings with the selected vendors
  • TaskFollow up post meetings to solidify relationships and discuss potential collaborations
  • Key ResultKRAchieve at least a 10% reduction in pricing from each vendor by week 6
  • TaskAnalyze current expenditure with each vendor
  • TaskObtain written commitment to new prices
  • TaskInitiate negotiation talks for discount rates
Use in Tability

How to edit and track OKRs with Tability

You'll probably want to edit the examples in this post, and Tability is the perfect tool for it.

Tability is an AI-powered platform that helps teams set better goals, monitor execution, and get help to achieve their objectives faster.

With Tability you can:

  • Use AI to draft a complete set of OKRs in seconds
  • Connect your OKRs and team goals to your project
  • Automate reporting with integrations and built-in dashboard

Instead of having to copy the content of the OKR examples in a doc or spreadsheet, you can use Tability’s magic importer to start using any of the examples in this page.

The import process can be done in seconds, allowing you to edit OKRs directly in a platform that knows how to manage and track goals.

Step 1. Sign up for a free Tability account

Go tohttps://tability.app/signup and create your account (it's free!)

Step 2. Create a plan

Follow the steps after your onboarding to create your first plan, you should get to a page that looks like the picture below.

Tability Import Options

Step 3. Use the magic importer

Click on Use magic import to open up the Magic Import modal.

Now, go back to the OKR examples, and click on Copy on the example that you’d like to use.

Copy from the template

Paste the content in the text import section. Don’t worry about the formatting, Tability’s AI will be able to parse it!

Importing from text

Now, just click on Import from text and let the magic happen.

Tability editor with imported content

Once your example is in the plan editor, you will be able to:

  • Edit the objectives, key results, and tasks
  • Click on the target 0 → 100% to set better target
  • Use the tips and the AI to refine your goals

Step 4. Publish your plan

Once you’re done editing, you can publish your plan to switch to the goal-tracking mode.

Publish import

From there you will have access to all the features that will help you and your team save hours with OKR reporting.

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