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Straight To The Bottom Line by Shelley Stewart, Michael Katzorke, Douglas Smock, Robert Rudzki

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18

Contract Management

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.

Reduce Time in Contract Creation and Get Better Negotiations Results

Upon starting his job as the new chief procurement officer of a large company, one ...

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