This Week in Procurement

This Week in Procurement: Writing Good Contracts Matters a LOT!

Written by Philip Ideson

Today’s must read comes from AOP alumni and NC State’s Supply Chain Resource Cooperative Executive Director, Rob Handfield.

Rob shares that he is observing an increase in both procurement and legal executives who are concerned with the state of their contract management processes. It is something that I am hearing too, particularly when it comes to risk management and mitigation.

In his article, Rob shares a set of 15 simple rules to follow when preparing an SOW or contract.

Here is one of the rules that stood out to me as something critical, but often missed – or it is only considered in case of upside, rather than downside (and I have been burned by that before).

  • Anticipate changes in needs or circumstances and decide how these will be addressed.

They provide a handy reference guide – it is definitely one to bookmark!

Writing Good Contracts Matters a LOT! | Rob Handfield, NCSU


2.
OTHER INTERESTING ARTICLES

How the Qatar Crisis Shook Up the World’s Supply of Helium | Sarah Zhang, The Atlantic

Times are a Changing | Greg Tennyson, VSP Global

Could ‘microconsulting’ disrupt government contracting? | Steve Kelman, FCW

Digital Procurement: Unintended Consequences Can Be Golden Opportunities | Rebecca Karp, Sourcing Synergies

Bad RFPs Are Bad: Part 3 | Ken Gaul, Strategic Sourceror


3.
PROCUREMENT & SERVICE PROVIDER NEWS

Proactis Acquires Perfect Commerce: Something is Fishy (in a Good Way) | Pierre Mitchell and Sydney Lazarus, Spend Matters


4.
@ THE ART OF PROCUREMENT

Podcast: 143: A Procurement Leaders Guide to Spend Analysis (Part 2) w/ David Bush

About the author

Philip Ideson

Philip Ideson is passionate about the role that procurement professionals and leaders can plan in creating competitive advantage for their organizations in ways that go beyond the traditional value proposition.

Philip founded Art of Procurement as a way for the procurement community to learn from each other, increasing the impact they have on their organizations. In 2017, he co-founded Palambridge, a virtual platform of procurement experts, technology, and intelligence. Palambridge provides a broad range of flexible procurement solutions, available on-demand.

Prior to Art of Procurement and Palambridge, Philip enjoyed a career that spanned the procurement value chain, working across three continents for organizations such as Accenture, Procurian, Ally Financial, Pfizer and Ford Motor Company.