Contract management agreement
Benefits Of Contract Risk Management

Benefits Of Contract Risk Management In our everyday lives, we are always entering into some type of basic contract, whether we choose to recognise it or not. Something as simple as buying a coffee from the local barista demonstrates the most basic workings of a contract. I.e. The basic exchange between two parties both sharing

contract
What Are The Most Important Dates In Supplier Contracts?

What Are The Most Important Dates In Supplier Contracts? Supplier contracts are often signed and then filed away in a desk drawer or shared drive without much management, except for when there is a problem. Until a new contract can be negotiated or put out to tender, the supplier delivers the goods or services and

Contract management software
What Is Contract Management Software?

What Is Contract Management Software? This article will detail the benefits of contract management software, what companies it is best suited for, and its main features. What is contract management software? Contract management software is a digital platform designed to be a repository for a company’s legal contracts as well as offering functions such as

How Do You Manage Supplier Relationships?

How Do You Manage Supplier Relationships? It’s a simple fact that suppliers are an essential part of every business, with 70% of the average company’s revenue being spent with third parties.  Despite this, for some companies the procurement process ends after signing a contract and starting to use a new supplier. Usually, the only time

Supplier relationship management
The Ultimate Guide To Supplier Relationship Management (SRM)

The Ultimate Guide To Supplier Relationship Management (SRM) Supplier management is a process that drives the best value between a company and the suppliers they work with. Within strategic procurement, Supplier Management allows companies to plan, manage and improve interactions with third-parties that provide them with goods or services. Supplier relationship management (see below) is a

Do You Measure Supplier Performance?

Do You Measure Supplier Performance? Your company has spent a lot of time and effort to run a competitive tender process, negotiated a good deal, signed the contract and implemented the new supplier. For some this is where the idea of the procurement process stops and the supplier is just left to get on and

How To Track Procurement Savings
How To Calculate Procurement Savings

How To Calculate Procurement Savings No matter what industry a business is in, it requires specific items to operate. Materials, equipment, and primary products are all required. As well as repairs, training, and other services, companies sometimes require a wide range of services to maintain them. Such costs can accumulate, especially if they are not

cost avoidance vs cost reduction
Cost Avoidance Vs Cost Reduction: What’s The Difference?

Cost Avoidance Vs Cost Reduction: What’s The Difference? When it comes to business, cutting costs and avoiding unnecessary expenditures is obviously a smart investment. Your profits will be higher if you can maintain a higher level of revenue and cash flow. Employees are often required by their employers to classify the financial benefits of capital investments or organisational initiatives as cost reduction or cost

Do You Measure Procurement Savings?

Do You Measure Procurement Savings? Every company prepares annual accounts that summarise its financial health and over time comparing them is a measure of how well its doing relative to previous years. These accounts are a top-level summary of the numbers, may be viewed externally and are limited in the amount of detail that they

Skip to toolbar