Apply Supplier-Centric Strategies
Chapter 7 reviewed contract management from the technology perspective. Here we will take a look at the underlying reasons to adopt contract management as a best practice in your organization and the benefits which can result. We will also take a look at how good contract management, combined with modern strategic sourcing, can create extra value through a process we refer to as supplier-centric strategies.
To illustrate some of the underlying reasons to adopt contract management best practices, consider the following real-life examples.
Upon starting his job as the new chief procurement officer of a large company, one ...