Contract Management For Procurement In Philadelphia
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As a Contract Manager, you'll be responsible for managing high value and important contracts within your organisation and adopt best practice procurement processes.
A Contract Manager responsibilities broadly consist of the following things: Provide procurement expertise to manage suppliers both pre-contract and post-contract. Deliver savings through a robust risk and issue management process.
Ronald Hovey serves as the Procurement Commissioner. Hovey brings nearly 40 years of public and private sector experience, playing a key role in enabling the various strategic initiatives and day-to-day operations in Engineering, Pharmaceuticals, Energy, and Transportation.
While project managers are responsible for working with cross-functional teams to closely manage new initiatives from start to finish, contract managers are responsible for keeping track of every deadline, deliverable, and other obligations laid out in a company's contracts.
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.
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.
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.
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.
To recap, procurement is the process of acquiring the supplies you need to run your business operations. On the other hand, supply chain management encompasses how those supplies are transformed into finished products and delivered to the end-users.
