To achieve value we must be transparent, but transparency exposes us to risk. So we can get comfortable with this in a short term engagement where fundamental change is unlikely, but not when we have to divulge longer term intent (eg potential I may change my mind, select a new partner, discontinue a product line, […]
With many parts of the world facing instability, it is important to recognise that worries and uncertainties are not universal. Here in Dubai, where I write this, there is a palpable sense of stability, confidence, and resilience—an immunity from much of the turbulence affecting Europe and the Americas. This extends to the UAE and Saudi […]
When it comes to the quality of relationships, it seems there is no such thing as ‘average’. 70% of buyers believe that their supplier relationships are better than those of their industry competitors. And while you might think that’s an over-optimistic view, it is relatively modest when compared to the 85% of suppliers who are […]
The Problem: A Pressured Environment with Changing Dynamics Today’s contract and commercial management (CCM) teams face unprecedented pressure to deliver contracts faster and more competitively. Business stakeholders, frustrated by growing complexity, often demand rapid results that push traditional processes to their limits. In talking with WorldCC members, a number of pressing issues and potential break-through […]
In many organizations, the role of buy-side contract managers is increasingly recognized as critical for optimizing value and managing risks. Drawing from the WorldCC 2023 benchmark studies, the following core competencies emerge as essential, with some variation in their relative importance depending on the scope of role (for example, level of engagement in pre-award activities, […]
Let’s face it – for most people, contracts are an unfortunate necessity. They create delay, they are hard to understand and rarely offer practical support. As a result, they are in many cases an afterthought. The true misfortune is the cost that comes from this attitude. By relegating the role of contracts, we also tend […]
For the last few months, WorldCC has worked to create an AI tool that will provide the association's members with access to 25 years of research and market insights - not just as flat files, but offering a unique source of commercial and contracting intelligence. It has proven a fascinating task and each day the AI offers us outputs that it is extracting from across a wealth of validated content. Here, I share a few of the things we are learning.
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. […]