Procurement Contract Management

Definition: Procurement Contract Management is the whole process of contract signing, execution, supervision, and management in the enterprise procurement process. The purpose of procurement contract management is to ensure the standardization of procurement activities, the smooth performance of contracts, reduce procurement risks, and improve cost efficiency. Effective procurement contract management can not only help enterprises standardize contract operations but also reduce the possibility of contract default, thus realizing risk control and maximizing benefits.

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Learn more about Procurement Contract Management.

More on procurement and purchasing: Buygrid Framework, Kraljic Matrix, Modified Rebuy, Post Purchase Behavior, Purchase Order Management.

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