Wednesday, 7 October 2015


Effective contract management is crucial for companies that seek to maintain a competitive advantage in all areas of their operations. Organizations that have established a solid contract management framework are able to save millions of dollars and gain an advantage over their competition. Susan M. Taylor, an experienced executive, knows that good contract management practices are essential to the success of a business.

Good contract management works to ensure that the customer is satisfied with the commodity being procured. One way to ensure customers are happy is to gain their input through satisfaction surveys. These surveys help to capture the performance of the contractor and notify them when client expectations are not being met. Additionally, procurement officials and advisors can use the information to improve on future contract management.

Disputes are common when two unique entities work together under a contract. To ensure disputes don't negatively affect the flow of supplies, both parties are encouraged to develop a success plan with the aid of a neutral facilitator. The facilitator helps the parties to identify the shared objectives and seek peaceful means to resolve any issues that might arise after the contract has been implemented. The process results in parties developing an agreement that lays out the roadmap for success.

It is equally important that procurement and finance officials involved in the process are aware of their roles and responsibilities. This helps to ensure that prompt payment is made and that individuals don’t overstep their mandate or abuse their positions, especially if large sums of finances are involved.
Susan M. Taylor has served in the Senior Executive Service (SES) as Deputy Chief Procurement Officer for the Dept. of Veterans Affairs, leading 2,800 contracting officials nationwide in the award of billions of dollars in contracts annually to support veteran hospitals.