CONTRACT MANAGEMENT: OPTIMIZING CONTRACT PERFORMANCE
Supplier relationships can greatly affect the delivery of the service tied to a contract. Organizations need to implement effective contract management practices to avoid risk and achieve optimal outcomes.
The ability to understand the various contact types, know what to do at each stage of the contract business process and to develop a solid contract management techniques are the distinguishing factors between successful relationships between supplier/ vendors and the relevant department. There is also the need for compliance to contract purchasing systems and process standards.
Participants will become aware of the contract management cycle and the knowledge and skills to successfully handle relationships to complete the contracting process.
At the end of the course, participants will be able to:
- How to categorize and prioritize different types of relationships
- How to manage a portfolio of supplier relationships
- The full range of contract management tools and techniques
- How to manage different dimensions of power and dependency within a relationship
- How relationships can be developed in order to deliver added-value
- How risks can be managed through every life-stage of the relationship
- Handle service quality concerns during performance
- Communicate effectively the terms and conditions of service clearly to the suppliers.
- Soft skills for supplier relationship managers – how to develop lasting relationships and goodwill
- Monitoring and managing performance – tools and techniques
- Metrics for measuring contract performance
- Reporting performance
- Communicating terms and conditions to suppliers
- Dynamics and dependency in supplier- company relationships
- Managing supplier relationships optimally
- Contract types
- Contract management tools and techniques
- Finding the contract management technique that works for you: Case study
- Key components of successful supplier relationship management (SRM)
- Governance and internal stakeholder management
- Structuring a supplier account management team
- Being assertive and managing disputes
- Managing change within strategic relationships.
This course will involve a wide range of adult learning techniques including class interaction, observation of participant’s aptitude through group discussions, team assignments, class exercises and case studies.
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