How do you bargain or negotiate with outside suppliers?

Negotiating the right deal with your suppliers doesn't necessarily mean getting what you want at the cheapest possible price.

You may want to negotiate other factors such as delivery times, payment terms or the quality of the goods.

Most business owners would view a good deal as one that meets all their requirements. But there are many other factors to consider, such as 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.

·         Setting objectives when negotiating with suppliers

·         Understand your supplier

·         Developing a negotiating strategy

·         Negotiating team

·         Conduct negotiations

·         Negotiating on price

·         Running checks on your supplier

·         Drawing up a contract for your purchase