Chasing the dream of fully automated contracts is not a new phenomenon. In fact, academicians and supply chain participants alike have been on a decades-long quest to eliminate the supposed inefficiencies in traditional written agreements.
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A good contract can prevent a lot of issues and everyone would agree with this. However, what does “good” encompass is trickier than it sounds.
We have observed that the desired savings are not being captured despite spend consolidation for a particular category. The reason may be that category teams are missing huge opportunities by considering specs by suppliers based only on the contribution to the spend.
Amazon will let its Business Prime customers analyze purchasing trends, earn credit card rewards and request extended payment terms, as the online retail giant aims to capture a larger slice of supplier spend.
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