Commitment Matters

If you are a professional in Contract & Commercial Management, committed to achieving the best possible outcomes from negotiations with all your trading relationships, then ‘Commitment Matters’ is the perfect source of regular articles and posts dedicated to helping you achieve that goal.

Contract and commercial management raise contentious issues

Posted by Tim Cummins, President of IACCM, Professor, Leeds University School of Law; Chair, International Commercial & Contract Management

Jan 26, 2015 6:18:16 AM

Contract Management and Commercial Management are becoming increasing sources of disagreement and contention.

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Topics: contract /commercial management, commercial management, organization & people

Contract Management Benchmarks

Posted by Tim Cummins, President of IACCM, Professor, Leeds University School of Law; Chair, International Commercial & Contract Management

Jan 21, 2015 10:51:56 AM

Did you know that monitoring compliance remains a key focus for contract management groups and the most common area for reporting? Would you have guessed that only about 8% of organizations typically succeed in always imposing their standard terms or that, for the average company, around one third of contracts are completed without any negotiated amendment?

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Topics: contract /commercial management, procurement, commercial management, technology, performance management, legal, organization & people

Opinions versus facts

Posted by Tim Cummins, President of IACCM, Professor, Leeds University School of Law; Chair, International Commercial & Contract Management

Jan 19, 2015 3:47:10 AM

Fact-based decision making is gaining the attention of business leaders worldwide. That is because they recognize it has critical importance to survival in today's volatile, competitive and complex markets.

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Topics: contract /commercial management, commercial management, organization & people

Commercial excellence: from concept to reality

Posted by Tim Cummins, President of IACCM, Professor, Leeds University School of Law; Chair, International Commercial & Contract Management

Jan 7, 2015 4:16:14 AM

Those who follow the work of IACCM will be familiar with our assertions that commercial competence is becoming a major topic for business leaders. Faced by the growing complexity and competitiveness of a networked world, the ability to make better commercial judgments and to act fast upon them is a critical source of differentiation. Businesses are moving from a focus on efficiency in managing the internal enterprise to effectiveness in managing external markets.

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Topics: contract /commercial management, procurement, commercial management, organization & people

A new year makes no difference ....

Posted by Tim Cummins, President of IACCM, Professor, Leeds University School of Law; Chair, International Commercial & Contract Management

Jan 6, 2015 5:42:21 AM

It is conventional at the start of a new year to reflect on what went before and to forecast what lies ahead. In reality, the change of a digit in the date has no significance. The world of contracts and commercial management was just the same on January 1st as it had been on December 31st.

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Topics: negotiation, contract /commercial management, procurement, sourcing, relationship management, commercial management, technology, risk management, legal, organization & people, supply chain management

Contract Management: Lots of focus, but what is 'good'?

Posted by Tim Cummins, President of IACCM, Professor, Leeds University School of Law; Chair, International Commercial & Contract Management

Dec 1, 2014 6:14:51 AM

There has been a surge of interest in contract management in the last two years. Organizations have increasingly recognized its importance in delivering business results and, in many cases, have been driven by concerns raised through their Audit Committee. A range of factors underlie this shift – regulatory compliance, reputational risk, performance management, financial returns. It has resulted in extensive process reengineering and frequent attention to organizational design.

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Topics: contract /commercial management, procurement, commercial management, organization & people

Contract management: time for a re-think

Posted by Tim Cummins, President of IACCM, Professor, Leeds University School of Law; Chair, International Commercial & Contract Management

Nov 25, 2014 9:53:08 AM

At an IACCM member meeting in the UK, I presented on the topic of ‘Weaknesses in Contract Management’, focusing on the incremental value opportunities that are realized if we focus on driving bottom-line benefits.

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Topics: contract /commercial management, commercial management, organization & people

Mega-deals risk mega-loss

Posted by Tim Cummins, President of IACCM, Professor, Leeds University School of Law; Chair, International Commercial & Contract Management

Nov 2, 2014 8:35:18 AM

When GT Advanced first spotted a major opportunity to supply Apple, I am sure their management were excited by the prospect. This could surely be a route to rapid growth. When they won a contract, the market clearly agreed - the stock price rose rapidly. Now, with the declaration of bankruptcy, the post-mortem begins ...

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Topics: contract /commercial management, procurement, relationship management, commercial management, risk management, supply chain management

Performance-based contracts

Posted by Tim Cummins, President of IACCM, Professor, Leeds University School of Law; Chair, International Commercial & Contract Management

Oct 12, 2014 3:47:09 AM

There is growing evidence that the form and design of a contract has substantial impact on the results achieved. The evidence ranges from studies on major projects, which often suffer from use of the wrong contract model, to more focused investigation of the behavioral impact of specific terms, such as the liability or indemnity provisions.

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Topics: negotiation, procurement, relationship management, commercial management, organization & people

Commercial competence

Posted by Tim Cummins, President of IACCM, Professor, Leeds University School of Law; Chair, International Commercial & Contract Management

Sep 23, 2014 9:45:02 PM

Tesco, a major retailer, becomes the latest in a growing line of private sector companies that appear unable to properly manage their contracts. In this case, there is a black hole of more than $400m from over-stated revenues, apparently stemming from commercial agreements with suppliers. Essentially, I presume, Tesco has counted forward revenue (rebates) and applied it in the wrong accounting period, in order to boost results.

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Topics: contract /commercial management, commercial management, legal

About the Author


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Tim Cummins

In his role as President of IACCM, Tim works with leading corporations, public and academic bodies, supporting executive awareness and understanding of the role that procurement, contracting and relationship management increasingly play in 21st century business performance and public policy.
 

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Commitment Matters is the personal blog of Tim Cummins, the Founder and CEO of IACCM. If you are a committed contracting professional and want to develop your skills and network, take a look at what IACCM has to offer.
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