Negotiating with a Vendor for Better Pricing on a Product or Service (CLO 1, CLO 5)

You run a small retail business, and you've been purchasing a particular product from a vendor for several years. Recently, you've noticed that similar products from other vendors are available at a lower cost. You want to negotiate with your current vendor to secure better pricing terms or discounts to maintain a competitive edge in your market.

Submit a Negotiation Proposal: Prepare a negotiation proposal that includes your request for better pricing, the rationale for the request, and any concessions you are willing to offer in return.

Submit the negotiation summary (Part 2) along with a reflection on the negotiation process.