All posts in Contracts

Multi-year contracts: What’s in it for procurement?

Special thanks to GEP for this guest post When you are involved in an RFP process to fulfill a specific business need, one of the most critical factors while negotiating agreements with shortlisted suppliers is the duration of the contract. The business could be awarded for one year or for multiple years. While there is the obvious benefit of a one-year contract…

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The “Easter Egg Hunt” of Procurement

I enjoyed celebrating Easter this past Sunday. Don’t miss updates on Procurement & Supply Chain, Subscribe here! Even though my kids are now 13 and 15, we still have a tradition of doing an Easter egg hunt on Easter morning.  It’s fun, like having wee little kids again, if even for just a few minutes. Strangely enough, thinking about this…

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Shark Case Study: Why Buyers Need Sharp Contract Administration Teeth

Don’t miss updates on Procurement & Supply Chain, Subscribe here! It’s been a while since I wrote a post about a personal experience that related to professional procurement.  But some recent dealings with Euro-Pro Operating, LLC – the maker of Shark vacuum cleaners – have “inspired” me to do a post that intersects work and home life. So, anyway… In…

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How to Review a Contract

I hope that you have enjoyed the article A Buyer’s 11-Point Contract Review Checklist. Don’t miss updates on Procurement & Supply Chain, Subscribe here! Personally, I recommend that you never review a contract without a checklist like this. Why? Well, some terms of a contract can look harmless.  And the terms that you are reading on the 20th, 30th, and…

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How To Stop Suppliers From Taking Liberties With Your Terms & Conditions

  Don’t miss updates on Procurement & Supply Chain, Subscribe here! As we teach in our online class, “Savings Strategy Development,” a best practice is to include your contract terms and conditions with your RFP/tender. This prevents delays later in the process and difficult negotiations with suppliers who feel they have already won your business. However, some suppliers may see…

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Rewards As An Alternative To Penalties In Contracts

I hope that you enjoyed the article “Tips For Negotiating With A Sole Source.” I wanted to use this post to expand upon one of the items from the article, specifically “Create tiered risk/rewards scenarios for Service Level Agreements.” Don’t miss updates on Procurement & Supply Chain, Subscribe here! Obviously, with any contractual relationship, you want the supplier to perform…

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