The ideas behind value engineering are not new. In fact, they go back to the 1940s, when the construction industry in particular was seeking new and more scientific ways to guide its purchasing decisions. It would not be unreasonable to assume that the methodology and its use would have matured by now. But you would be wrong; it has actually gone backwards.
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Topics:
contract /commercial management,
procurement,
technology,
communication,
IACCM,
value engineering,
Architectural products,
risk,
sustainability
Energy supplies are fundamental to the functioning of any advanced economy, so blackouts such as that which occurred on a large scale in the UK earlier this month are bound to be big news. However, they should be no surprise.
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Topics:
contract /commercial management,
communication,
IACCM
Twice last week, I heard from business executives that long, complex agreements are a thing of the past. I don't know whether they had been speaking with each other, or perhaps attending the same event, but both were forceful in their view that contracts must change - a sentiment that we strongly echo at IACCM.
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Topics:
contract /commercial management,
communication,
legal & regulatory,
IACCM,
contract simplification
The 2019 IACCM Benchmark Report will soon be issued, providing a wealth of data and insight to the current state of contract and commercial management. One of the many areas we have researched is to understand what major initiatives contracts and commercial teams are currently undertaking. The list (which appears below) is interesting - and the differences between buy-side and sell-side priorities even more so! Our report explains the implications and the reasons - along with a myriad of data regarding performance measurements, headcount levels, the state of automation, skills and knowledge management and a host of other topics.
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Topics:
contract /commercial management,
procurement,
communication,
IACCM,
contract benchmarks,
commercial benchmarks
It is widely recognised that collaborative relationships generate better results. It is also generally acknowledged that collaboration doesn’t just happen - it requires characteristics such as openness, honesty, free-flowing communication and a sense of shared interest.
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Topics:
contract /commercial management,
procurement,
communication,
IACCM,
collaboration
McKinsey’s Global Institute is just the latest in a long stream of consultancy firms to publish research on the future of work. Like many others, it calls upon senior management to set up “systems and programs to help the tens of millions of people who may need to switch jobs or even occupations” as a result of automation. I am sure McKinsey will be delighted to assist such initiatives - for a substantial fee.
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Topics:
contract /commercial management,
communication,
IACCM,
skills,
automation
“Innovation was for the first time cited as a top-3 driver for more strategic and collaborative supplier management”, according to research by SRM consultants State of Flux. That observation is borne out by other studies and by the anecdotal evidence from executive statements and annual reports.
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Topics:
contract /commercial management,
procurement,
relationship management,
supply chain management,
communication,
IACCM
A recent report from CAPS Research states that 70% of companies are experiencing a supply management talent shortage. Almost 40% say that recruiting in this field is more challenging than for any other function.
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Topics:
contract /commercial management,
procurement,
communication,
IACCM
Contract performance can be undermined by strange and unpredictable factors. Such is proving to be the case in the A$50bn project to build a new fleet of submarines for the Australian Navy.
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Topics:
contract management,
communication,
IACCM
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