ONGC spruces up its contract procedures-V: Keeping a grip on OEMs
Jul 20: One point where ONGC's bargaining power weakens is when it is trying to negotiate for equipment and services from an Original Equipment Manufacturer (OEM). 8The advantage of being a buyer dissipates when the OEM is in a position to dictate its terms on the prices to be set for equipment and services. 8Occasionally, it is noticed that OEMs will dictate a price for equipment well above the norm or the reserve price set and ONGC is left will little or no leverage to deal with the OEMs 8Is there a new way of dealing with the OEMs? Click on Details for more