Contract management is defined as the process of creating, implementing, and managing contracts. Two parties are involved in contract management as contracts are agreements between different parties. My perspective is that contract management is critical as it ensures contracts are executed according to the agreed$-$upon terms and conditions. It ensures the interests of the parties involved in a contract are served in accordance to the contract terms and conditions $($NCMA$,2019).$ This should happen throughout the contract life cycle. Contract life cycles can range from days to years. Contract management could also

involve the potential renewal of a contract. I believe contracting competencies play a major role in

ensuring successful contract management. Contracting competencies encompass the skills and knowledge

required to perform contact management. This is the "how" of performing contract management. Examples of contracting competencies are acquisition management, acquisition planning, contract negotiation, acquisition financial management, and source selection. These competencies enable parties

involved to successfully carry out contract management $($NCMA$,2019).$ Without these competencies, it

would be difficult for contract management to be a success.

In supply chain management, management is critical to smooth operations. The four supply chain

alignment configurations facilitate effective supply chain management. As explained by Gattorna $(2009),$

customer behavior determines the type of supply chain to be used. For instance, a segment of customers

could be fit for continuous replenishment supply chains. In most cases, this is the "collaborative"segment. When managing supply chains, it is important to be flexible since customer behaviors can change from time to time $($Gattorna$,2009).$ Continuous alignment is needed since customers can move from one supply chain alignment configuration to another.

Make a substantive response to this post that will encourage discussion and$/$or critical thought by proposing a different point of view supported by a valid source or personal example or by completely supporting the initial statements with additional sources or applications. It also includes related follow$-$up questions to promote critical thinking.

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