Can you discuss a time when you had to negotiate terms with a supplier? What was the outcome?

Your Answer

How To Answer This Question?

When answering this question, focus on a specific instance where you successfully negotiated terms with a supplier. Start by setting the context: describe the situation, the supplier, and the terms that needed negotiation. Explain the steps you took to prepare for the negotiation, including any research or strategy you developed. Detail the negotiation process itself, highlighting your communication skills, problem-solving abilities, and any compromises made. Finally, discuss the outcome, emphasizing the positive results for your company, such as cost savings, improved terms, or strengthened supplier relationships. Example: 'In my previous role, I had to negotiate new payment terms with a key supplier to improve our cash flow. I researched industry standards and the supplier's financial health, then proposed a mutually beneficial solution. The negotiation resulted in extended payment terms, which significantly improved our cash flow without damaging the supplier relationship.'