Negotiating is a skill that all buyers should be exceptional at. Negotiating prices with suppliers is what buyers go through all year. The buyers and the suppliers need to agree to benefit both sides. The buyers want to achieve the most for the company while the suppliers want to make their fair share in creating and distributing the product. Typically, the executives at the manufacturers will be the first to give a ‘cost price’ for a garment, then the buyers will negotiate until both feel satisfied. However, garments may be dropped from the original plan if either side doesn’t come to an agreement.
“Buyers should be able to estimate from past experience how much the consumer will expect to pay for a particular garment, and therefore can calculate the optimum cost price which they would be prepared to pay.”