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
Almost 90% of Procurement and Contract professionals expect major growth in ‘as-a-service’ offerings, with a quarter believing they will rapidly come to dominate the market.*
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Topics:
negotiation,
contract /commercial management,
sourcing,
communication,
IACCM
Formal, institutionalized corporate governance is a relatively recent concept and still maturing, yet few today would suggest it is unnecessary.
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Negotiating something as fundamental (and emotive) as Brexit was never going to be easy. In the end, it has turned into a fascinating case study that will doubtless be used and cited for decades to come.
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In many cases, organizations continue to make purchasing decisions based on price. It has been baked into their DNA, with the mantra of ‘commoditization’ backed up by software that drives price-based competitive auctions and measurement systems that continue to monitor ‘negotiated savings’. In the public sector, this is further reinforced by public procurement rules that blithely ignore concepts of value and have failed to adapt to the nature of today’s supply requirements.
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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
At present, supplier-led innovation appears to be more fantasy than fact. That’s the conclusion we must draw from an IACCM Research report, published last week. It shows a significant divide between the aspirations expressed by buyers and the reality experienced by suppliers.
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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
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