Procurement Templates

Contract Management

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Contract Management best practices can be achieved by implementing spend control. A successful company generates profit but also knows that it must keep cost lean. Spend control is one of the easiest ways of helping an organisation maximise efficiencies.

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Perception and reputation are two things that take commitment to change. Don’t start by promising the world and under deliver. Instead, make a simple pledge to do things better with a one-page summary outlining your strategic vision.

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Contract Management  & spend control and transparency: The first goal of any procurement organisation is to make sure it has a complete and accurate picture of its spending, that all information is continuously maintained and the database is accessible for procurement professionals across the organisation. Bringing full spending visibility under one roof leads to higher rates of compliance, to the point that maverick spending becomes almost extinct.

Contract Management

How does procurement impact the bottom line?

Be natural. When a new requirement comes up offer your support and begin undertaking some competitive sourcing to help you stakeholders meet their goals. Most companies run a hybrid approach of centralised procurement and devolved activities. Where it is devolved make sure your templates are up to scratch. Where it is centralised your templates need to be near perfect. Remember though, you are more than a template. You add value by walking your client through the process whilst maintaining your position as the commercial “go to” person. Your role is not to sit there and regurgitate words for the tender pack, your role is to lead and advise.

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FAQs

Can I get a contract management checklist?
  • Contract Management checklist
  • How much do you spend on the third-party spend?
  • With which suppliers are you making these purchases?
  • To what degree is the procurement department involved and contributed to the cost reduction
  • How would you assess the value of procurement against cost reduction initiatives and what improvements could be suggested?
  • Are suppliers put through a consistent competitive or tendering process?
  • What post contract management is undertaken to realise the contract benefits?
  • Do you have a P2P process that works, what improvements can be made?
How do I influence?

Most established companies with a procurement function will have tactical spend control measures in place. However, it is surprising that sometimes organisations can still lack some basics because the culture is that procurement is viewed as a blocker rather than an enabler and strategic partner.

Perception and reputation are two things that take commitment to change. Don’t start by promising the world and under deliver. Instead, make a simple pledge to do things better with a one-page summary outlining your strategic vision.

How can I support my team and stakeholders?

Be natural. When a new requirement comes up offer your support and begin undertaking some competitive sourcing to help you stakeholders meet their goals. Most companies run a hybrid approach of centralised procurement and devolved activities. Where it is devolved make sure your templates are up to scratch. Where it is centralised your templates need to be near perfect. Remember though, you are more than a template. You add value by walking your client through the process whilst maintaining your position as the commercial “go to” person. Your role is not to sit there and regurgitate words for the tender pack, your role is to lead and advise.

I’m told procurement doesn’t understand the business needs

You are supposed to follow a robust procurement process but don’t hide behind a process. Use your judgement to allow for flexibility when business needs outweigh the “correct thing to do” where appropriate be agile and forward thinking. If you need to bend the rules do so, as long as you can prove your actions, create the best outcome for your clients because you want to offer them the best business partnering arrangement possible. Your role is not purely based on cost reduction. It’s not just about compliance, and you can’t walk around only interested in participating in commercial conversations. Your role is multifaceted and cost reduction is one aspect

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