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By effectively managing vendor contracts, businesses can improve operational efficiency, reduce risks, and enhance their reputation. Let’s take a look at some of the key benefits of vendor contract management. This can include provisions related to quality control, liability, and dispute resolution.
Contract management also maintains compliance with procurement regulations, which is critical since public schools may face audits. CostControl: Are rates consistent with contractual terms? Inventory Management Effective procurement isnt just about buying things to meet your specific needs.
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