A recent article in the sports pages of a national paper gave me cause to think about the similarities between procurement and football.
The contrasting settlement terms of two prominent football club managers made me realise that in procurement, success is often quantified both in terms of what success
looks like but also how it is rewarded. Failure, on the other hand, is often left to the contract administrator to deal with through remediation or severance terms. (more…)
Contract management is about much more than automation and reducing administrative burden. Here are three innovative ways that companies have used to leverage contract management to support strategic business initiatives. (more…)
It’s surprising how many companies still struggle with contract compliance enforcement and performance tracking. Ineffective contract management costs businesses £100 billion per year in missed cost savings, according to the Aberdeen Group.
What’s the biggest roadblock? It’s complicated, hard work that requires buy-in from the entire procurement team. (more…)
The start of a new year is a fine time to consider an overview of purchasing – if only for a sanity check. It’s time to dust off that old handbook, determine what is relevant and which practices can be replaced. (more…)
What happens if you threaten to punish an outsourced supplier? Does its performance improve or get worse? For the purposes of answering this question, which I looked at in my MBA dissertation, “punitive measures” should be taken to mean contractual measures to secure adherence or deter non-performance such as service credits.
When an outsourcing contract is first implemented, the outsourcer is mostly viewed as a direct extension to the customer’s internal IT team. This is a hindrance to maximising the business value of deals because experience shows the customer will typically micro-manage the outsourcer. (more…)
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