Contract management is a critical activity for a Sourcing and Procurement organization. Structuring the contract correctly, and managing stakeholder input to the contracting process is a key driver of value generation. We have outlined the top 10 Pitfalls we have seen occur as organizations navigate the contract structuring process, and how to avoid them
Sourcing and Supply Chain Management organizations are being called upon more than ever to deliver value and competitive advantage to the business. These organizations are the main line to tap into the capability and market access of the supply base, a source of value that has not been fully leveraged by many organizations. This is best accomplished through a well managed Supplier Relationship Management (SRM) program. An effective yet simple way to manage an SRM program is to focus on what we call the 5 S’s: Strategy; Stakeholders; Selection; Structure; and Solutioning.