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Contracting Excellence Magazine - Mar 2009
Many of us are wrestling with the impacts of today's economic conditions. Of course people are worried; and in some parts of the world, the potential suffering is extreme. But in the end, we will adjust because we have to adjust. So what are some of the positive steps we should be taking? IACCM CEO Tim Cummins sets out his thoughts and ideas for the commercial, procurement and contract management community.
IACCM members are at the forefront in these difficult times. Whether you are winning business, managing the risks of current relationships or renegotiating existing deals, we know that it is tough to obtain the latest ideas and information. This series of initiatives is designed to help.
Sales Contracts and Commercial Management groups have been wrestling with dramatic changes in market conditions in the last couple of years. Much more is written about Procurement and its role or contribution to the business, so those on the other side of the table can often be forgotten. Yet that silence does not mean there have been no changes, or that the role has in some way diminished.
If ever there was a time to re-think our approach to risk, surely that time must be now. In the first of two articles (the second will focus on buy-side risk techniques), Bob Endres introduces 'Value Based Contracting', for those involved in sales or distribution contracts. (Bob is CEO of Synaptic Decisions, this year's sponsor of the IACCM Risk Management Community of Interest and a keynote presenter at the IACCM Spring Conference in Orlando.)
IACCM offers a range of advisory and research services to help members solve organizational challenges, make critical business or technology decisions, benchmark their organization, gain market and competitive insights and much more. For additional information about how IACCM can help with your specific research and advisory services needs, please contact firstname.lastname@example.org.
Membership in the IACCM opens a number of ways to turn benchmarking from a tedious exercise into a fast-path to organizational evolution. In this article, long-time member Steve Sopko highlights the importance of objective data for functional health and survival - and illustrates ways that IACCM can help.
Renegotiation is just one way that contracts are being adjusted. In some industries, companies are taking much more unilateral behavior, using relative levels of power to impose new terms. In late 2008 contract and commercial management consultancy Blake Newport hosted a roundtable discussion to look into the best approach for managing contracts and supplier relationships in the current economic climate. This article by Alex Ellis summarizes the main discussion points.
A round-up of some interesting news articles and research results. This month, trends in legal services buying, outsourcing versus insourcing, focus terms and conditions and the trend to 'free' goods and services.
This newsletter is intended to keep readers abreast of current developments in the field of contract and commercial management. It is not, however, to be used or relied on as a substitute for professional advice. Before acting on any matter in the areas, readers should discuss matters with their own professional advisers.
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