The art of supplier negotiations in today's complex digital age

New processes, platforms have streamlined procurement process

By Saraj Gupta

The concept of haggling has been in existence since the inception of the barter system by the Mesopotamian tribes around 6000 BC. As time went on, money was invented around 5000 years ago, and it allowed humans to trade goods and services indirectly in exchange for cash and coins. In the second century BC when Eurasian traders traveled along the prestigious silk route, they would carefully review the priced commodities displayed by other traders and often bargain fiercely to ensure they got the best “bang for their buck.”