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5 Steps to Manage Contracts Efficiently –Step 3

Contract Management, Procurement Technology / By Zycus

Step 1 in managing contracts efficiently dealt with automating contract creation which helps standardize the contracting process and in step 2 we discussed the significance of collaboration while authoring and negotiating contracts. Moving onto step 3 – CREATE CONTRACT REPOSITORIES Consider this instance; Company ABC with a transport contract of $100,000 dependent upon the fuel prices. […]

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5 Steps to Manage Contracts Efficiently –Step 2

Contract Management, Procurement Technology / By Zycus

Till now we discussed how a successful sourcing strategy can be toppled by ineffective contract management and in our endeavor to manage contracts efficiently, discussed the first step – Automating Contract Creation. Today we move onto the next step in the series – COLLABORATION To begin with let me cite a quote highlighting the significance of

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5 Steps to Manage Contracts Efficiently – Step 1

Contract Management, Procurement Technology / By Zycus

In the previous blog we discussed the spokes in managing contracts effectively, that the success of procurement largely depends on how efficiently the contracts are managed. Let us now discuss step 1 in managing contracts efficiently – AUTOMATE CONTRACT CREATION Contracts typically have routine clauses and terms & conditions depending on the geographies. The legal team

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5 Steps to Manage Contracts Efficiently – Spokes in the Contract Life-cycle Management Wheel

Contract Management, Procurement Technology / By Zycus

A quote from Spend matters,“Great procurement work can be undone by weak contract management. But even a less successful procurement or sourcing phase can be recovered through effective contract management.” highlights the importance of contract management. Even though defining appropriate sourcing strategy, selecting most competitive suppliers and negotiating are central to the success of procurement,

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Procurement today and tomorrow – Transformative Scenarios for Change part – 2

Procurement Technology / By Zycus

In the previous blog, we discussed the current state of procurement and the 5 scenarios that procurement professionals should be watching out for that are likely to be game changers. In this 2nd and the final part we will share 5 smart tips given by Jason Busch, Executive Editor – Spend Matters & Managing Director

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Procurement today and tomorrow – Transformative Scenarios for Change – part 1

Procurement Technology / By Zycus

At Horizon 2012, Jason Busch Executive Editor – Spend Matters & Managing Director – Azul Partners in his session titled, Procurement today & tomorrow discussed the 5 procurement scenarios that should be watched out for and also provided 5 tips for a better procurement. In this post we will touch upon the 5 scenarios mentioned

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Sourcing strategically – Raising the stakes

Procurement Technology, Strategic Sourcing, Supplier Management / By Zycus

Strategic sourcing, which is considered a key aspect of supply chain management, involves elements such as examination of purchasing budgets, the landscape of the supply market, negotiation with suppliers, and periodic assessments of supply transactions. Successful execution of a sourcing project requires sourcing teams to wade through numerous challenges in today’s competitive and challenging global environment. Some of the challenges that daunt sourcing professionals today when it comes

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Supplier and Market intelligence Key drivers in procurement strategy

Spend Analysis, Strategic Sourcing, Supplier Management / By Zycus

Volatility is the new norm – be it political, or a natural calamity, or industry equations. With the supply base having gone global the degree of unpredictability has increased and so has the resultant disruption. Recently US east coast was devastated by hurricane Sandy. Many economists expect the storm to shave up to half a

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Happy New Year!

Procurement Technology / By Zycus

Zycus wishes you all a very happy and successful 2013! In the new year we continue with our endeavor to better procurement performance and keep you updated with latest trends, developments and research in the procurement field. So stay tuned!

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