Contracts & Supply Chain Management

About the Course

"Contracts" and "Supply Chain Management" are concepts often used in business and legal contexts, particularly in the field of procurement and business operations. A contract is a legally binding agreement between two or more parties that outlines the terms and conditions of a mutual exchange of promises or obligations. These agreements can cover a wide range of transactions. Contracts define the rights, responsibilities, and expectations of each party involved.

Supply Chain Management refers to the process of planning, sourcing, producing, and delivering goods and services to customers while optimising costs, quality, and efficiency. It involves overseeing the entire flow of materials, information, and finances across various stages, from raw material suppliers to end consumers.

This 5-day interactive Contracts and Supply Chain Management training course will cover topics that can be used as an extensive resource that provides in-depth insights into the critical areas of business operations, specifically focusing on the realms of contracts and supply chain management. It will equip the delegates with a thorough understanding of the intricacies involved in these essential aspects of modern business.

Core Objectives

The delegates will achieve the following objectives:

• Understand key contract management concepts, practices, and trends
• Appreciate contract types and managing contractor and supplier payments
• Comprehend the key relations between contract management and supply chain management
• Realise contract variation/change orders and their management
• Comprehend the contract administration and risks involved in supply chain risks
• Know how to use technology and innovation in contract management and supply chain
• Understand challenges in contract management during a force majeure event

Training Approach

The training course covers a holistic approach to Contracts and Supply Chain Management, including the fundamentals of contract and supply chain management, contract types, the relation with contract management and supply chain management, contract administration, and contract management challenges during a force majeure event. It is based on theory and reflects generally accepted principles and lessons learned from practical examples obtained from past events. Using up-to-date industry knowledge, excerpts from the relevant research in the field, current material, and examples from actual case studies to the maximum possible extent.

The delegates will be given a pre-assessment test at the beginning of the programme. They will be encouraged to participate actively and allowed for live group discussions to exchange their experiences. The training materials will be provided in PowerPoint format, and a post-assessment test will be conducted. 

The Attendees

This training course targets professionals employed by the Owner, Contractors, Site Supervision Consultant firms and various Government agencies. It will provide professional development opportunities for EPC Contractors, Developers and Governmental Agencies employees.

Likewise, it will be valuable to the professionals but not limited to the following:

• Program Managers
• Project Managers
• Contract Managers
• Contract Administrators
• Procurement Managers
• Procurement Team Members
• Risk Managers
• Professionals who want to improve their knowledge of contract and supply management

Daily Discussion

DAY ONE: FUNDAMENTALS OF CONTRACT MANAGEMENT

• Definition of Legally Binding Contract
• Role of Contracts in Business Transactions
• Key Elements of Contracts
• Contract Formation and Contract Types
• Contract Management Process
• Contractual Obligation of the Parties
• Payment Methods and Managing Payments to Contractors and Suppliers

DAY TWO: WHAT IS SUPPLY CHAIN MANAGEMENT?

• Introduction to Supply Chain Management
• The Components of Supply Chain Management
• Logistics and Transportation
• Procurement Management vs Supply Chain Management
• Supplier Relations Management
• Demand and Forecasting
• Impact and Benefits of Effective Contract Management on Supply Chain 

DAY THREE: CHANGE ORDERS IN CONTRACT MANAGEMENT

• Introduction to Change Orders
• Reasons for Change Orders
• Processing Change Orders
• Documenting and Communication of Change Orders
• Negotiation of Change Orders
• Risk Management and Legal Considerations
• Best Practices for Dealing with Change Order
• Risk Allocation under Contracts

DAY FOUR: CHALLENGES WITH CONTRACT MANAGEMENT AND SUPPLY CHAIN MANAGEMENT DURING EXCEPTIONAL EVENTS

• Introduction to Exceptional Events
• Supply Chain Disruptions
• Contractual Ambiguities
• Adapting to Change and Uncertainty
• Financial Impact and Cost Management
• Supplier Performance During Exceptional Events
• Risk Management and Risk Response Strategies
• Contingency Planning

DAY FIVE: ROLE OF INNOVATION AND TECHNOLOGY IN CONTRACT AND SUPPLY CHAIN MANAGEMENT

• Introduction to Technology and Innovation
• Digital Contract Management
• Real-Time Visibility and Tracking
• Demand Forecasting and Analytics
• Supplier Relationship Enhancement
• Blockchain and Transparency