Discuss the key considerations a purchaser should keep in mind when negotiating lower prices with suppliers. Consider factors such as Total Cost of Ownership $($TCO$),$ supplier financial stability, quality assurance, and the importance of maintaining strong supplier relationships. How should a purchaser balance the need for cost savings with the potential risks to quality, supplier partnerships, and overall supply chain resilience?

Notes:

This topic addresses the intricate balance that purchasers must achieve when negotiating price reductions. While cost savings are essential, students should consider how these savings can impact the total cost of ownership, supplier viability, product quality, and the long$-$term health of supplier relationships. The discussion should reflect an understanding of how to align purchasing strategies with broader business objectives while mitigating risks.