Negotiating the right deal with your suppliers doesn't necessarily mean focusing on the cheapest possible price. You may want to negotiate other factors such as delivery times, payment terms or the quality of the goods.
You may need to vary your approach for different negotiations. Factors to consider include who your supplier is, what alternatives you have and whether you want to do business with a particular supplier again.
Both sides should conclude a negotiation feeling comfortable and happy with the agreement. Negotiations can be unsuccessful if either side feels forced into a corner.
This guide sets out how to negotiate a deal, including setting your objectives, understanding your supplier's position and using the right tactics.