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According to researchers at the British Library, the written word dates back to the fourth millennium B.C.E., when contracts between buyers and sellers became too complex to recall simply by memory. That contracts gave rise to writing itself speaks to how central these documents are to commerce: they define the value, the risks ...
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When designing a new widget, experienced product managers know that they can’t slap a quality control process at the end of the design process and expect a good output. Rather, QC must be designed into every step of the design process, with inputs from stakeholders along the way. Process quality ...
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Contract-centric sourcing is an emerging paradigm in which companies use contract management software with robust sourcing capabilities to drive efficiencies, compliance and savings in the buying process. The Icertis Contract Management (ICM) platform enables contract-centric sourcing through its sophisticated Sourcing application, from which buyers and sellers can easily submit bids ...
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In complex business environments, partner, supplier, and customer relationships are critical. Contracts form the foundation of these commercial relationships, yet many companies continue to rely on email for contract collaboration--raising the risk of delays or harmful miscommunication. Enterprises with increasingly complex value chains need a better way. The challenges of ...
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For procurement organizations, “category management” is considered a best practice for sourcing. Simply put, category management is the process by which companies segment all the goods and services they need to procure into discrete categories that reflect the specific common characteristics of the products they’re buying. For example, the procurement ...
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Sourcing and procurement departments  play a strategic role in controlling spending and managing risks. They must think creatively to increase savings and draw insights from suppliers in an increasingly complex supply chain. Strategic sourcing processes that improve compliance, reduce risk and strengthen supplier collaboration result in increased sourcing performance and ...
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When you hear the word ‘contracts’, what do you think of? Closing deals? Generating revenue? Committing to obligations? Managing risk? Contracts are involved in nearly every aspect of operating a global business, and can nurture or degrade critical supplier relationships. Supplier relationships require clear communication and trust – but they ...
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