Contract Management Tools


CIPS contract management tools

Contract management, performance and termination plays an important part in the procurement function. Managing a contract effectively contributes towards added value by reducing the risk of non-conformance and ensuring continuity of supply. Contract management and performance includes the use of Key Performance Indicators (KPIs) and Service Level Agreements (SLAs). The use of these SMART tools helps a procurement professional to fairly and efficiently manage the suppliers' performances. Termination of a contract does not have to be a negative action. Termination can occur due to the contract having run its course (completion) and having been performed well. Termination can also be linked to supplier or buyer failure, through the occurrence of a breach or through financial difficulties.

 

Contract management, performance and termination encompass a multitude of areas including but not limited to:

 

 

CIPS members can access the contract management tools below to help manage contracts, performance and termination. Sign in to access the member content below: