The use of ‘supplier panels’ is relatively widespread in modern procurement, especially in categories such as professional services. The concept behind them is that they bring greater speed and efficiency to supplier selection and - in theory - reduce costs. In practice, some argue, they undermine value, stifle innovation, threaten integrity and more likely increase costs.
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Topics:
contract /commercial management,
procurement,
communication,
legal & regulatory,
supplier platforms,
IACCM
Twice in the last week I have had conversations with people who think that Procurement functions today are ‘dumbing down’ contracts. If true, that’s a big mistake and will undercut the stated ambition of the function to raise its profile and value. It is also at variance with what we see happening in at least some IACCM member organizations.
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Topics:
procurement,
relationship management,
commercial management,
communication
My title is a quote from an executive at contract management provider
Icertis
and helps explain the growing momentum and interest in contract-related technologies.
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Topics:
contract /commercial management,
communication
Big organizations have traditionally seen little need to collaborate. Their size gives them power - power over suppliers, customers, distribution networks, even over government and public policy. When it comes to negotiation, they simply don't do it. Contract terms are imposed on the counter party. Why be reasonable when you can instead exercise control (and call it ‘compliance’)?
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Topics:
contract /commercial management,
relationship management,
IACCM Webinar,
strongertogether
Key Performance Indicators - or KPIs - are held up as critical elements for driving contract success. They bring clarity and discipline to complex situations, allowing both supplier and customer to monitor progress and performance.
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Topics:
contract /commercial management,
performance management,
communication
I am observing a growing trend for Procurement teams to adopt the title ‘Commercial’. While I understand the reasons for this, it is typically misleading and misrepresents the true purpose of Commercial Management.
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Topics:
contract /commercial management,
organization & people,
communication
CAPS Research issued a study result that ‘only’ 72% of companies offer supply management training within the first 12 months after hiring a new employee. The commentary implies this is a problem; but is it?
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Topics:
organization & people,
communication,
management training
I have just spent two hours reading about trust and governance, the need for agile projects, the importance of collaboration. I’ve also been answering questions on how parties can best maintain alignment over a multi-year agreement and the role of optimism in ensuring success.
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Topics:
contract management,
communication
It’s great news that impact investment continues to grow, with latest estimates published by the Financial Times (April 1st, 2019) showing fund values are now more than $500bn.
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Topics:
contract management,
communication
‘Commercial Innovation’ is increasingly recognized as a critical discipline for business survival and the delivery of value. Back in the 1940's, Nobel prize-winning economist Joseph Schumpeter made the observation that to achieve success, technical invention must be accompanied - sometimes even led - by commercial innovation.
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Topics:
commercial management
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