THE COURSE OVERVIEW
This course covers supplier selection, contracting and contract management and provides tools, processes and checklists to plan for the appropriate type, length, content, deliverables and performance measures for contracts. The sourcing and contracting process ensures that the recommendation to award and the associated terms and conditions are approved by key stakeholders and aligned to business needs and requirements.
WHO SHOULD ATTEND?
Buyers, Procurement Professionals, Category Managers, Contract Managers and Contract Administrators
What is the right contract type for my category?
How will different types of contracts impact my category strategy?
How can I influence suppliers to support and adopt my terms?
What benefits sharing mechanism is suitable
How do I establish open sharing of information and transparency?
How can I ensure risk is identified and mitigated?
How can I ensure fulfillment of contractual obligations by all parties?
How can I identify opportunities for performance improvement?
What performance measures should be established?
What needs to be considered when implementing a new contract?
How will the contract be administered during the contract period?
What is the contract close out procedure?
BENEFITS OF THE DELEGATES
•Understand and apply the contract implementation process.
•Understand what are the right types of pricing and supplier approaches for contracts, depending on the agreement type.
•Understand corporate policy for contract management.
•Understand who and how many are the right resources to plan and manage contracts.
•Understand the importance of a good communication plan.
•Apply market knowledge to make the right decision about when and how to contract.
•Obtain agreement on the roles, responsibility, authority and accountability for contract management.
•Ensure contracts are leveraged to align supplier incentives with the organizations performance targets.
•Link future business needs to continuous improvement.
•Create clearly defined performance requirements and identifiable and measurable outcomes.
•Evaluate and measure their suppliers using a balanced score card approach.
•Enable suppliers to be measured on metrics that are aligned with business needs and will drive improvement performance.
•Ensure that the correct performance management and process compliance procedures are in place.
BENEFITS TO THE ORGANIZATION
• Be able to plan contracting strategies, motivate and manage suppliers.
• Realize the full benefits of agreed contract terms and conditions.
• Improve supplier performance.
• Drive continuous improvement initiatives through contracts.
• Benefit from standard ways of working in sourcing and contracting.
• Establishing contract governance and a performance management framework.
• Segmenting relationship types to determine level of contract maintenance required.
• Understanding the lifecycle of a contract and the roles and skills involved at each stage.
• Controlling contract risks and values.
• Creating service briefs and performance targets with suppliers and stakeholders.
• Managing service delivery and compliance through contracts.
• Managing variances in price and performance through contracts.
• Conducting contract and performance reviews.
• Driving improvement over the contract life through incentivization.
• Driving improvement through analysis of the learning curve and capturing lessons.