Supplier negotiation is the process where a buyer and a supplier discuss terms and conditions for purchasing goods or services. The goal is to reach an agreement that benefits both parties, often focusing on price, delivery schedules, and quality standards. Effective negotiation can lead to cost savings and improved relationships. During supplier negotiation, both sides prepare by researching market conditions and understanding each other's needs. Good communication skills are essential, as they help clarify expectations and resolve any conflicts. Successful negotiations can result in long-term partnerships that enhance supply chain efficiency and reliability.