A supply chain is only as reliable as the least visible link inside contract renewal strategy. Savings claimed on the practice within procurement and supply operations at signature are frequently lost during execution. It establishes a shared vocabulary for this area of procurement and supply operations so that teams can disagree productively about it. Participants gain a realistic view of what contract renewal strategy costs and what it returns. The version of the procurement and supply operations discipline described in the manual and the version practised on the floor tend to diverge over time. Field experience suggests that the barrier to better the procurement and supply operations capability is rarely technical. Discussion is anchored to worked examples of contract renewal strategy rather than to abstract argument. Participants come from operational and oversight roles, and both perspectives on this strand of procurement and supply operations are used deliberately. The final module sets out how progress on the procurement and supply operations capability will be evidenced six months later.
Expected Learning Outcomes
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Plan the disposal or return route for obsolete and damaged stock in contract renewal strategy.
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Anticipate the objections that contract renewal strategy will attract internally and answer them in advance.
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Compare the organisation's handling of contract renewal strategy with recognised practice, and close the material gaps.
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Reduce the working capital tied up in contract renewal strategy without creating stock-outs.
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Segment spend on contract renewal strategy and apply a sourcing strategy proportionate to risk and value.
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Document decisions about contract renewal strategy in a form that remains useful after the people change.
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Design contract terms for contract renewal strategy that make performance measurable and enforceable.
