In part one of the Contract and Supplier Management in the Age of Covid-19 blog series we took a look at what successful contract management looked like and explored why a reworking, or indeed an implementation of supplier relationship management frameworks was integral to navigating procurement challenges for the remainder of 2020, as well as into the future.
You can check that post out here if you missed it. If you’re after the abridged version though read on now.
Essentially organisations don’t tend to invest in the life cycle of a contract – you invest in the procurement and once you’ve got a supplier in place, we expect them to get on and not cause any problems. While this ‘muddling’ along works fine when all is smooth sailing – if anything were to disrupt BAU, a global pandemic say – the result is potentially crippling.
What we need is a more strategic approach that builds in business continuity planning and resiliency. Why? Because organisations that have clearly defined contract compliance processes are best positioned to navigate challenges, achieve greater cost savings, reducing the time and costs associated with auditing supplier compliance and are able to maintain strong supplier relationships.
In the second part of the Contract and Supplier Management in the Age of Covid Series we take a look at how two government departments – the Queensland Department of Education and Transpower NZ pivoted SRM quickly to effectively manage supply chain shortages and transform future procurement.
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Both Transpower and the Queensland Department of Education will discuss their supplier relationship management journeys in more detail at the upcoming Contract Management virtual event on the 05th of October 2020 – learn more here!
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