Part 1 : write 400–600 words As a regional manager for ABC Manufacturing, your duties will include negotiating contracts with vendors to maintain production and transportation schedules. Because you just came on board, the chief operating officer (COO) has asked you to address the senior team leaders on the importance of contract negotiations in vendor selection. You begin the meeting by asking each leader to provide his or her understanding of what negotiating means, and the importance of negotiating in supply chain management. In addition, you ask the leaders to identify 3 key members of the contract negotiating team. Describe the following: •Part 1: What does negotiation mean in today’s business environment? •Part 2: What role does contract negotiations play in the vendor selection process? •Part 3: Identify the roles and responsibility of at least 3 key members of the contract negotiation team. Part 2: 400 – 600 words – The chief operating officer (COO) was very impressed with your presentation to the senior leadership last week. The chief executive officer (CEO) expressed concern that XYZ Plastics has hired a consultant to assist it in preparing for the upcoming negotiations. As a reward for your hard work, he has asked that you share your understanding of negotiation strategy and tactics. Consider your current or past job or an organization that was recently in the news, and describe a negotiation scenario and the outcome. Discuss the following: •What is the purpose or goal of the negotiation? •What strategy or tactics can be employed by both sides? Part 3 400 – 600 words – The Southwest regional manager is having trouble preparing a bid for a lucrative government contract to supply blenders to the military dining facilities in Fort Hood, Texas. Specifically, he has asked for your assistance as he determines his approach to pricing. Complete the following: •Define and describe cost-based pricing. •Define and describe market-based pricing. In addition, the government contract officer mentioned the requirement to present a fair and reasonable price to be considered for the contract. Identify the guideline or regulation that governs acquisition and contracting, and describe the concept of fair and reasonable price in government contracts. •Discuss the outcome of the negotiation. •Give your assessment of the strategy.