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Contract Management

Partner with your suppliers

Your work does not end following the conclusion of tender. By focusing on strategy and a mutually beneficial relationship with your supplier, you are better able to manage the volatility of the market together, to get your goods to market on time.

Trust in data

Use real-time market data at the core of your negotiations and partnerships.

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Neutrality

A third-party provider that delivers neutrality for both parties.

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Transformation

Transform traditional procurement contract management to index-based execution.

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Contract management

  • Implement contract

    Following the conclusion of tender, the contract is implemented. 

    This includes taking all of the steps to move forward with the agreed-upon contract.   

  • Execute contract

    To adjust the rates to the changes in either bunker or market indices, calculations have to be done on a quarterly or monthly basis and updated with your suppliers. 

    Additionally, quarterly business reviews are held to be sure that the details of the contract are being upheld on both sides either side. 

  • Manage additional requests

    Additional requests either from additional internal demand or outside from suppliers such as cost increases which were not seen at the time of tender need to be managed throughout the contract.

    This includes extending additional spot contracts as well as ad-hoc rate requests because the demand had not been published in the original tender. 

Next step: Spend Analysis

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