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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.
In this episode, Marta and Willem invite a long-time listener and supporter of the Bestek podcast and a postdoctoral fellow at PurpLE, Ezgi Uysal, to discuss her research on the topic of sustainability contractual clauses (SCCs) in public procurementcontracts.
Rethinking ContractManagement is Key for Smart Procurement Achieving smarter procurement requires a delicate balance of incentives and oversight. To achieve this, governments need to rethink how they do and managecontracts, meaning that contract designs should align with the complexity of transactions.
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.
Awarding the Contract The winning supplier is selected based on clear criteria, ensuring fair and competitive procurement. ContractManagement Once the deal is signed, contractmanagement ensures the supplier delivers as promised. E-Procurement It is the digital way of handling public purchasing.
The FAR is meticulously structured into subchapters, parts, subparts, sections, and subsections, providing detailed guidance for government procurement, from planning through contractmanagement to compliance and enforcement. What are some types of procurementcontracts identified by the FAR?
Predictive Analytics: Uses advanced data analytics, such as machine learning, to predict future demand, analyze potential supply chain risks, and facilitate informed procurement decisions. It also provides transparency which encourages compliance with regulatory frameworks and positive ethical procurement practices.
This bill sends plenty of money to the state and local governments–but along with these allocations comes solicitations, procurements, contracts, deadlines, reporting requirements, and other overhead.
Contract Lifecycle management is an area we have seen huge demand in over the last year or two. Many of our customers leverage our contractmanagement solution for both authoring or contract repositor. Christopher Bourez, Artificial Intelligence Architect at Ivalua.
Contract Lifecycle management is an area we have seen huge demand in over the last year or two. Many of our customers leverage our contractmanagement solution for both authoring or contract repository. One of the initial use cases the team is tackling is for contract analysis. .
The need for organisations to move quickly to protect and grow their business is not new, but through the last decade, the risks for those who don’t have grown. . Think about all those retailers who no doubt thought they would eventually develop a decent online offering – but there was no rush, was there?
The Federal Acquisition Regulation (FAR) outlines systematic procedures for crafting procurementcontracts, ensuring consistency and fairness. Compliance with labor laws such as the Davis-Bacon Act and McNamara-O’Hara Service Contract Act is essential.
Last week, round 40 Procurement leaders got together in the very pleasant surroundings of the Royal Lancaster Hotel in London to talk about collaboration, and to celebrate Ivalua’s increased presence in the UK.
The Hackett Group and Ivalua have been working together for some months to assess the status of Digital Procurement transformation and lessons learned from early adopters. CPOs in many organisations have progressed beyond the planning stage, with Ivalua actively working with many of them and supporting their journey.
It’s a question that you can answer for yourself at Ivalua Now – The Art of Procurement , being held, appropriately enough, at The Louvre, Paris 10 th – 12 th April. We’re led to believe that there’s a fundamental difference between something that’s art and something that’s science.
ContractManagement is an essential element of the procurement lifecycle as it helps to mitigate risks, ensure compliance and achieve desired outcomes. It is a structured approach to overseeing contracts from initiation to execution and leads to either termination or renewal. and Manage the Contract – Buyandsell.gc.ca
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