Commercial Management of Orders and Contracts
The purpose of commercial management of orders and contracts is to ensure effective oversight, execution, and administration of all contractual agreements and orders between an organization and its suppliers or contractors. This process aims to optimize value, mitigate risks, and maintain compliance while facilitating successful project delivery and supplier relationship management.
Commercial management is crucial for ensuring successful project delivery and supplier relationships. It involves overseeing, executing, and administering contracts and orders throughout their lifecycle.
Key aspects of commercial management include:
- Optimizing value: Aligning contracts with business goals for maximum benefit.
- Mitigating risks: Identifying and managing potential issues to minimize negative impacts.
- Maintaining compliance: Adhering to legal and internal regulations during contractual activities.
Effective commercial management fosters strong collaboration with suppliers, leading to successful project completion and mutual benefit.
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