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Optimum News

16th Jun 16

Optimum Procurement Appears in The Times - Supply Chain Strategies Supplement

Optimum Procurement Appears in The Times - Supply Chain Strategies Supplement
Today's Times newspaper features a 'Supply Chain Strategies 2016' Raconteur report. The report includes an article entitled 'Flexible agreements allow supply to flow', for which Optimum Procurement's Chief Knowledge Officer, Gerard Chick, was asked to contribute.

The article, written by Nick Martindale, explores a topic that continues to play a key role for procurement and supply professionals: What is it that makes a good contract?

As the article demonstrates, any successful business relationship is the result of negotiation between one party in need of products or services and another looking to supply them, with the outcome usually represented in some form of legally binding contract.

Negotiating a good contract is about more than cost reduction or simply 'getting a good deal'. On the contrary, a good contract should lay the foundations for a successful business partnership.

As Gerard Chick comments in The Times supplement: 'Many people think a good contract screws the other party down and is something to bash them over the head with... A good contract helps both parties meet their obligations and is an instrument to help work through the project or delivery of a good. Smart people understand this and produce contracts that are workable, succinct and clear.'
For more articles exploring the issue of contract management and its role in contemporary procurement and supply, see the Contract Management section of the Optimum Knowledge Store.