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What Is Contract Management In Procurement?

Obobo

key Takeaway: Effective contract management is a critical aspect of procurement that facilitates successful partnerships with suppliers, compliance with legal requirements, and risk management. Contract monitoring: This involves tracking progress, identifying potential risks, and addressing issues as they arise.

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What Is Vendor Contract Management And Why Is It Important?

Obobo

Vendor contract management tracks the performance of all vendors associated with an organization and helps manage their relationships with them better. It centralizes the documentation and records of all vendor contracts in one place, allowing for improved collaboration and compliance.