What is contract management?
Contract management is the process by which signed contracts and any changes to them are clearly recorded, managed and monitored, with the aim of ensuring full utilisation of the contracts and the generation of management reports.
What is the difference between supplier management and contract management?
The most important difference between contract management and supplier management is that the former is about managing the contract, while the latter has to do with managing the relationship with the supplier.
What is the aim of supplier management?
The aim of supplier management is to choose the right suppliers and the most effective type of partnership, and to manage the suppliers after these choices have been made. This entails establishing, structuring, setting up, maintaining and monitoring the most suitable supplier relationships. For this reason, it is the overarching process for everything that takes place from procurement to the termination of contracts.
What is the aim of contract management?
The aim of contract management is the realisation of contract objectives by proactively working towards the intended goals established at the moment the contract was entered into. Naturally, this is done in collaboration with the supplier.