If you hesitate to pilot new contracting technologies and hope to stick to tradition, you’re not alone. But ready or not, many automations are upon us, including block chain, process automation, Artificial Intelligence (AI), and digitization.
If you hesitate to pilot new contracting technologies and hope to stick to tradition, you’re not alone. But ready or not, many automations are upon us, including block chain, process automation, Artificial Intelligence (AI), and digitization.
Topics: technology, contracting excellence, supply chain management, contract management
Procurement has not experienced a positive image with C-suites for many years. Seen as being divorced from corporate strategy, procurement is accused of failing to create value.
Topics: contracting excellence, organization & people, contract management
Deadline is May 25, 2018 for meeting compliance standards set by the General Data Protection Regulation (GDPR). With penalties for non-compliance set at up to 4% of annual revenue, it’s a clear area for focus – but are you ready?
Topics: contract /commercial management, technology, contract management
Are you using your contracting processes to drive quality and efficiency or to embed inefficiency?
Topics: contract /commercial management, technology, contract management
I posted two articles on my blog recently that together explain why I recommend implementing a transition period into your performance-based contract (PBC) rather than starting all aspects of the contract immediately on day one.
A supplier contracts to deliver power-generating equipment. In breach of contract, it supplies equipment that does not work. The customer claims damages including:
Let’s say a costly and lengthy dispute hits your organization with high court costs and settlement fees!
Everyone knows that “business hates uncertainty.” It poses clear threats to business, but offers significant opportunities as well.
Topics: contract /commercial management, contracting excellence, risk management
Editor’s note: This article is an excerpt from the book “Contract and Risk Management for Supply Chain Management Professionals” published by X. Paul Humbert, Esq1.
Topics: contract /commercial management, contracting excellence, contract management, communication
Late payments and extended terms are still an issue for firms globally. But changes in business culture and increased policy attention seem to be heading in the right direction.
Topics: contracting excellence, organization & people, contract management
