Contract Management For Procurement In Dallas
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Contract management in procurement is the process of systematically and efficiently managing contract creation, execution, and analysis to obtain the best possible financial and operational performance.
There are 4 types of procurement: indirect, direct, goods and services. Each relates to a different type of procurement needed for an organization to operate. Your procurement processes must be updated regularly to keep up with the latest best practices and security measures.
However, these two critical departments may not always be on the same page due to their unique goals. While contract managers are concerned with making sure contracts are approved by their legal team, procurement specialists are more concerned with acquiring products/services efficiently.
4 Pillars of Procurement Excellence Spend Analysis. Strategic Sourcing. Contract Management. Supplier Relationship Management.
What stages does the procurement contract management process include? Identifying your needs. Evaluating potential suppliers. Drafting the perfect bid. Negotiating the contract. Setting up invoicing / payment systems. Performance evaluation. Contract renewal / closure.
Ms. Thompson currently serves as the Director of Procurement of Services at the City of Dallas. In this role she leads citywide procurement of all Goods and Services and Contract Management.
A Contract Manager, or Contracting Manager oversees all aspects of a company's contract negotiations, obligations and implementation. Their duties include negotiating contracts, advising management and supervising the implementation of contracts for optimal efficiency.
1) Chief Procurement Officer The CPO will lead the sourcing process, develop the organisation's procurement strategy, identify potential suppliers, conduct negotiations, and manage short and long-term goals. Most importantly, the CPO must have the authority to talk at the right level with the right people.
Contract Management is concerned with the continuous review and management of the contractual terms and/or service level agreement secured through the procurement process to ensure suppliers and partners deliver the outcomes agreed.
