Cycle and Process

After completing the readings for the week, offer your perspective on what is contract management, the contract life cycle, and contracting competencies. Consider the four supply chain alignment configurations discussed in the Dynamic Supply text. The four supply chain configurations are lean supply chains, agile supply chains, fully flexible supply chains, and continuous replenishment supply chains.

Please review the PowerPoint regarding an overview of Program Management and the overview regarding ethical behaviors in Government Contracting.

Initial response 250

Answer preview

The contract life cycle refers to the operational and transactional phases of a contract where the operational phase aims to oversee the contract process. The transactional phase seeks to ensure the execution of the contract.  The concept entails activities taken before and after the contract besides the creation and implementation of a contract. This concept’s building blocks vary from the goal of an identified sale opportunity and its integrity, among others. This concept ensures the procurement process adheres to all sales configurations requirements and minimizes financial risk in all phases.

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