Glossary Letter N terms

Negotiation Strategies

Negotiation strategies lie at the heart of effective procurement, shaping everything from cost savings to supplier relationships. By approaching negotiations with clear objectives, thorough market research, and a collaborative mindset, procurement professionals can forge agreements that benefit both parties in the long run. Mastering essential techniques—such as interest-based bargaining, strategic concessions, and win-win outcomes—not only drives down costs and manages risks, but also builds trust and aligns supplier capabilities with organisational goals. In essence, a well-executed negotiation strategy empowers procurement teams to deliver sustainable value while maintaining strong, mutually beneficial partnerships.