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Federal Monthly Insights - ContractManagement Modernization - 9/24/2024 [link] Download audio The State Department is embarking on a transformation in how it performs acquisition. It’s moving to a categorymanagement approach, organizing procurement around the primary categories of spend.
ContractManagement is often thought to be the last step in the Procurement life cycle but instead it is both the beginning and end of the procurement cycle and it provides a constant feedback loop. The following article discusses the various steps of contractmanagement and its role in procurement efficiency.
The source-to-contract process is where Procurement identifies and creates value for their organization. Ivalua offers a completely integrated experience across the entire upstream process, enabling customers to successfully define and execute sourcing and supplier management strategies and lock in the value with ContractManagement.
A purpose-built solution can enforce proper governance and standards, automate master data optimization activities, identify product standardization opportunities, and automate categorymanagement for strategic sourcing in supply chain. Demand planning capabilities.
Redwood City, CA – October 26, 2020 – Ivalua, a leading global spend management cloud provider, and Consus, a leading global supply chain solutions provider, today announced that Jollibee Foods Corporation (JFC) has successfully deployed Ivalua’s platform to empower its procurement digital transformation, with Consus leading implementation.
George held several leadership positions within the agency, including Regional Commissioner of the Greater Southwest Region, and he served as the inaugural Government-wide CategoryManager for Industrial Products and Services.
Identifying Value , is where procurement teams leverage spend data and spend analysis to understand trends in spend and identify opportunities and develop categorymanagement strategies. . There are, in fact different phases of procurement value creation that tie into the Source-to-Pay process: .
Areas to consider include objectives, background, scope, constraints, deliverables, timing, approvals, policy and legislative requirements, evaluation criteria and methodology and contractmanagement including KPIs. Part 2 of The Procurement Journey will continue next month covering posting, evaluation and contract award.
But now with strategic sourcing and categorymanagement, the process has become much easier to track, monitor and control. It’s a style of working that produced innovative thinking – but by its nature, could be hit and miss; where “miss” could have a significant negative impact to an organisation’s balance sheet.
Once a procurement is awarded it moves to contractmanagement whose primary functions are implementation, compliance and issue management. A well written contract is a key enabler of successful contractmanagement as it clearly sets out the expectations of both parties. Fleet and Logistics CategoryManager.
Once the Procurement Journey is completed the procurement is passed to the contractmanager for execution. From procurement management courses to ongoing procurement webinars, resources are available to help you stay informed and up-to-date with the ever-evolving world of procurement. Fleet and Logistics CategoryManager.
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