From the course: Strategic Sourcing of Suppliers
Join today to access over 23,800 courses taught by industry experts.
Contract management: How to get what you’ve agreed
From the course: Strategic Sourcing of Suppliers
Contract management: How to get what you’ve agreed
- Are we done yet? Not quite, learners, not quite, I'll explain why. Welcome to Step 7: Contract Management, the final step in the strategic sourcing process. This step, or rather this phase, is about how you ensure that everything you've agreed with the supplier as part of the new arrangement is accomplished and lasts throughout the life of the contract. You see, the benefits you've secured and enshrined in your new contract, over which you may have had some hard-fought negotiations, will only be delivered if the supplier performs against what's been agreed. These benefits could be lead time reduction, quality improvements, enhanced management information, the provision of training or continuous improvement workshops, or a higher-caliber account director. You may have documented these in the contract itself or in a service-level agreement, or SLA, appended to the main contract. It's proven that the supplier's performance…
Practice while you learn with exercise files
Download the files the instructor uses to teach the course. Follow along and learn by watching, listening and practicing.
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.