Summary: A great deal of focus, time and investment are put into ensuring that the right supplier is selected and that the most appropriate contract and commercial arrangements are implemented. Any desired benefits are realised once the deal has been signed, and proper management is key to realising such benefits. The management authority must be accepted by both the business and supplier, and they need to have in place new score-carding tools to monitor the ongoing relationship and ensure benefits are realised. Critically, they also have to play the balancing act of implementing control and monitoring processes whilst encouraging interaction between the business and the supplier.
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