The endless debates about the role and status of Procurement are on one level quite tedious – they seem to drag on and on, with no definitive outcome beyond wide agreement that things must change. Yet this is an important conversation because the activities undertaken by Procurement have a very real impact not only within […]
Establishing a “Contract Review Board” like the one you describe is a method used by a significant number of large corporations, though it is not necessarily a ‘best practice’ approach. These review boards are part of a broader trend towards more rigorous contract review and management processes. A WorldCC member recently asked whether establishing a […]
Based on analysis of recent reports from leading consultants and procurement experts, the ‘big topics’ impacting the supply market appear to be a mix of technology, global market dynamics, environmental concerns, and shifts in underlying business practices – sometimes occurring individually, but often also with a need to consider the interplay between the various topics. […]
The belief that collaboration yields better business results is widely accepted and has led to growing interest in the role that contracts play in either supporting or undermining collaborative relationships. As a result, ‘relational contracting’ has increasingly come under the spotlight, with continuing efforts to provide better definition and guidance on what it means and […]
2024 is already an energizing year! It has been wonderful to be back fully in face-to-face meetings and to feel the enthusiasm of the community that continues to build around WorldCC. Such diversity – geographic, functional, industry – yet inspired by a common belief in the importance and contribution of a fresh approach to contracting […]
This adage rings especially true when we look at the state of relationship management between buyers and suppliers. WorldCC’s latest study (to be published next month) reveals a wide gap between understanding its importance and taking the steps needed to align each party’s interests. In today’s fast-paced and volatile business environment, open and collaborative relationships take on added […]
AI is gaining great interest, even though adoption rates remain relatively low. Many are exploring the use cases.
With ever-greater frequency, organizations highlight the importance of collaboration, both internally and with their trading partners. Few would argue that collaboration depends upon strong relationships, so the early findings from current WorldCC research are a cause for concern. Despite the clear benefits, the survey shows that there is a notable shortfall in the execution of […]
Selecting the most effective contract and commercial model is a major factor in achieving successful business outcomes. This process demands astute business judgment and necessitates constructive dialogue both with external parties and internal stakeholders.
As we start a new year, it is a great time to open our minds and start to re-imagine the purpose of our contracts and the benefits that could flow from a fresh approach.