Pioneering Game Theory Strategies in Procurement Deals with Zoe Pangalos

It’s not just Monopoly and Chess! Companies have been using game theory to (game)change their strategies, and this means going beyond a contract from your predecessors 20 years ago.

With prior experience building Philip’s Negotiation Centre of Excellence as a Negotiation Excellence Senior Manager, Zoe Pangalos is now Procurement Negotiations Lead at NERA Economics Consulting. By helping procurement clients integrate game theory to design optimal negotiations, Zoe aids clients in achieving their procurement objectives.

In this exclusive video interview with ProcureCon Australia, she shares about how game theory can be applied in procurement negotiations. Her aim? For the power to shift back from suppliers to procurement, where clients can stretch their dollar further as suppliers strive to provide the competitive advantage.

Zoe also dives into,

• Stepping out of traditional procurement negotiations – Is investing in e-sourcing platforms the right step for you?
• It’s not one size fit all – It’s a battle in a reactive approach where you compete between what you want and what they offer.
• Shaking the control among your stakeholders – your biggest challenge.

Is game theory as simple as 3, 2, UNO? Watch the full video now!

Mastering Negotiation is a hot topic at ProcureCon Australia. Are you looking for more tips on how to negotiate more effectively, meet your targets, and keep costs low of the future? Find out what the leaders are discussing at this year's ProcureCon summit here!