Managing Supplier Contracts

Can you please tell me how I can manage our supplier contracts within our project team, and the steps which should be taken?

In-order to manage supplier contracts the trick is to have a well documented contract with each supplier which lists all of the mile stones to be reached by the supplier in meeting the needs of the project team. The steps undertaken to manage that suppliers performance include reviewing the ability of the supplier to deliver those milestones which involve providing goods and services to the project team which meets their needs. Then after the overall performance of the supplier is determined. An assessment of their performance against the contract is made and any issues with their performance are identified. Those performance issues are then discussed with the supplier and an outcome is made which may involve an improvement of the performance of the supplier or the review and or termination of the supplier contract.

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