Author Archives: Matt Lhoumeau, Concord



The Procurement Process and Contract Management: The Key to Managing Risk

It’s no secret. Organizations are losing millions due to cost volatility, supply disruption and non-compliance fines. An ever-increasing pace of business and rising levels of uncertainty within our global economy have brought about an alarming amount of potential pitfalls for procurement leaders. This means risk management has been more of a top priority than ever, and procurement is on the front line of managing that risk. The good news is procurement has a secret weapon: contracts.

The Next Procurement Frontier? Reconciling Speed and Compliance

As the pace of business continues to accelerate, procurement has been recognized, and rightly so, as a fundamental business enabler and strategic function. Now it’s time for the next step. The priority of achieving sustainable cost reduction and reducing risk has met a new role: enabling agility. Considering the current hyper-competitive and fluctuating state of global business, the question procurement should be looking to answer is, How do you move fast while also remaining compliant?