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Home » How Disciplined Is Your Approach to Contract Negotiation, Spend Management and Supplier Performance?

How Disciplined Is Your Approach to Contract Negotiation, Spend Management and Supplier Performance?

July 15, 2010
ChainLink Research

Skillful contract negotiation and management are vital to realizing a company's spend management and supplier performance goals. The essence of good contract management is reasonably straightforward:

• Can you negotiate a good deal?

• Can you capture and document the agreement quickly, flexibly, and accurately, with a minimum of effort, error and exposure?

• Can you monitor compliance to make sure that you are taking advantage of those hard-won gains?

For too many organizations, the answer is "no" to all of these questions. Too many firms still have untrained buyers and/or an undisciplined approach, paper contracts, manual processes and fragmented systems. These problems make authoring contracts very time-consuming and error-prone, and compliance monitoring almost nonexistent. Firms that have made investments in buyer education and improving the full lifecycle of contract processes have realized benefits.

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Supply Chain Finance & Revenue Management Sourcing/Procurement/SRM Technology Business Strategy Alignment Global Supply Chain Management Pharmaceutical/Biotech
KEYWORDS Business Strategy Alignment Global Supply Chain Management Pharmaceutical/Biotech SC Finance & Revenue Management Sourcing/Procurement/SCM Supply Chain Analysis & Consulting Technology
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