DEFM200 Acquisition 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.
Initial response 250
Contract management refers to the process of ensuring the execution of a contract aiming at maximizing financial and operational performance while reducing financial risk. This aligns with lean supply configuration since it aims at executing procurement processes while reducing financial risks. The management concept calls…