Negotiation skills for procurement refer to the ability to effectively negotiate favorable contracts and agreements with suppliers. This skill set involves a deep understanding of both the supply chain industry, along with active listening, assertiveness, problem-solving, creative thinking and diplomacy. It also includes the ability to think on your feet and respond quickly in fast-paced environments. Negotiation skills are essential for any business that needs to secure the best deals without sacrificing quality, ensuring that their profits remain secure. With effective negotiations, Procurement professionals can save costs while obtaining the best value.