The role of contract management in the strategic sourcing process is shifting significantly, and managers are re-thinking how to navigate contractual issues with suppliers in the “new normal” post-COVID world. Based on his work on the front-lines of the COVID supply chain ecosystem, Rob Handfield will cover how terms of force majeure have changed, the importance of engaging suppliers in conversations to mitigate risk, and what the future is for face to face negotiation of contracts.
- Force majeure may not be useful in dealing with COVID-related supply disruptions
- Conversations with suppliers are important to establish business continuity planning
- Face to face negotiations will become less prevalent in the future