Negotiating better supplier contracts involves discussing terms and conditions with suppliers to achieve more favorable agreements. This can include lower prices, improved payment terms, or enhanced service levels. Effective negotiation requires understanding both your needs and the supplier's capabilities, ensuring a win-win situation for both parties. To prepare for negotiations, research market rates and gather data on potential suppliers. Establish clear objectives and prioritize what is most important to your business. Building a good relationship with suppliers can also lead to better deals, as trust and communication often result in more flexible terms and long-term partnerships.