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Contract Management
Contract management or contract administration is the management of contracts made with customers, vendors, partners, or employees. Contract management includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes or amendments that may arise during its implementation or execution. It can be summarized as the process of systematically and efficiently managing contract creation, execution, and analysis for the purpose of maximizing financial and operational performance and minimizing risk. Common commercial contracts include purchase orders, sales invoices, utility contracts, letters of engagement for the appointment of consultants and professionals, and construction contracts. Complex contracts are often necessary for construction projects, goods or services that are highly regulated, goods or services with detailed technical specifications, intellectual property (IP) agreements, o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vendor
In a supply chain, a vendor, supplier, provider or a seller, is an enterprise that contributes goods or services. Generally, a supply chain vendor manufactures inventory/stock items and sells them to the next link in the chain. Today, these terms refer to a supplier of any goods or service. Description A vendor is a supply chain management term that means anyone can sell at events and provides goods or services of experience to another entity. Vendors may sell B2B (business-to-business; i.e., to other companies), B2C (business to consumers or Direct-to-consumer), or B2G (business to government). Some vendors manufacture inventoriable items and then sell those items to customers, while other vendors offer services or experiences. The term vendor and the term supplier are often used indifferently. The difference is that the vendors ''sells'' the goods or services while the supplier ''provides'' the goods or services. In most of business context, except retail, this difference has ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer
In sales, commerce, and economics, a customer (sometimes known as a client, buyer, or purchaser) is the recipient of a good, service, product or an idea - obtained from a seller, vendor, or supplier via a financial transaction or exchange for money or some other valuable consideration. Etymology and terminology Early societies relied on a gift economy based on favours. Later, as commerce developed, less permanent human relations were formed, depending more on transitory needs rather than enduring social desires. Customers are generally said to be the purchasers of goods and services, while clients are those who receive personalized advice and solutions. Although such distinctions have no contemporary semantic weight, agencies such as law firms, film studios, and health care providers tend to prefer ''client'', while grocery stores, banks, and restaurants tend to prefer '' customer'' instead. Clients The term client is derived from Latin ''clients'' or ''care'' meaning "to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crown Commercial Service
The Crown Commercial Service (CCS) is an executive agency and trading fund of the Cabinet Office (United Kingdom), Cabinet Office of the UK Government. The CCS is responsible for managing the government procurement, procurement of common goods and services, increasing savings for the taxpayer by centralising buying requirements, and leading on procurement policy on behalf of the government. History CCS was originally created as the Buying Agency on 1 April 1991. On 1 April 2000, it became part of the newly established Office of Government Commerce (OGC) within HM Treasury. On 1 April 2001, the Buying Agency, the Central Computer and Telecommunications Agency, Property Advisors to the Civil Estate and other units from the Treasury merged to form OGCbuying.solutions. The agency's name was changed to just Buying Solutions in April 2009. On 15 June 2010, it moved, along with its parent agency the OGC, to become part of the Efficiency and Reform Group within the Cabinet Office (United ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Accounts Committee (United Kingdom)
The Committee of Public Accounts is a select committee of the British House of Commons. It is responsible for overseeing government expenditures, and to ensure they are effective and honest. The committee is seen as a crucial mechanism for ensuring transparency and accountability in government financial operations, having been described by Professor the Lord Hennessy as "the queen of the select committees...hichby its very existence exert a cleansing effect in all government departments". Overview The recommendation for the creation of a committee to oversee government accounts was first put forward in 1857 by a small group of interested Members of Parliament led by Sir Francis Baring. The structure and function of the PAC date back to reforms initiated by William Ewart Gladstone, when he was British Chancellor of the Exchequer in the 1860s. The first Public Accounts Committee was established in 1862 by a resolution of the British House of Commons: There shall be a standi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deductive Reasoning
Deductive reasoning is the mental process of drawing deductive inferences. An inference is deductively valid if its conclusion follows logically from its premises, i.e. if it is impossible for the premises to be true and the conclusion to be false. For example, the inference from the premises "all men are mortal" and "Socrates is a man" to the conclusion "Socrates is mortal" is deductively valid. An argument is ''sound'' if it is ''valid'' and all its premises are true. Some theorists define deduction in terms of the intentions of the author: they have to intend for the premises to offer deductive support to the conclusion. With the help of this modification, it is possible to distinguish valid from invalid deductive reasoning: it is invalid if the author's belief about the deductive support is false, but even invalid deductive reasoning is a form of deductive reasoning. Psychology is interested in deductive reasoning as a psychological process, i.e. how people ''actually'' draw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Occupational Prestige
Sociologists use the concept of occupational prestige (also known as job prestige) to measure the relative social-class positions people may achieve by practicing a given occupation. Occupational prestige results from the consensual rating of a job - based on the belief of that job's worthiness. The term ''prestige'' itself refers to the admiration and respect that a particular occupation holds in a society. Occupational prestige is prestige independent of particular individuals who occupy a job. Sociologists have identified prestige rankings for more than 700 occupations based on results from a series of national surveys. They have created a scale (with 0 being the lowest possible score and 100 being the highest) and then rank given occupations based on survey results. History People rate the ‘general standing’ of an occupation (the most common question). It is taken to be a measure of occupational prestige and hence of the social status of occupations. Many other criteri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Commerce & Contracting
Commercial management is "the identification and development of business opportunities and the profitable management of projects and contracts, from inception to completion". Commercial management within an organization is applied only at policy levels. Commercial policies relate to the rules or practices that define how business will be conducted and the standard terms under which external relationships will be conducted. Many of these policies are reflected in the terms of any contract in which the organization engages. At a transactional level, commercial management is applied through the oversight of trading relationships to ensure their compliance with business goals or policies and to understand or manage the financial and risk implications of any variations. See also * Contract management * Government procurement#Government Commercial Function and Government Commercial Organisation within the UK government ga, Rialtas a Shoilse gd, Riaghaltas a Mhòrachd , image = ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oliver Williamson
Oliver Eaton Williamson (September 27, 1932 – May 21, 2020) was an American economist, a professor at the University of California, Berkeley, and recipient of the 2009 Nobel Memorial Prize in Economic Sciences, which he shared with Elinor Ostrom. His contributions to transaction cost economics and the theory of the firm are influential in the social sciences. Life and career Williamson was born in Superior, Wisconsin, on 27 September 1932. He was the son of Sara Lucille (Dunn) and Scott Williamson, both of whom were high school teachers. Williamson attended Central High School in Superior. He received his BSc in management from the MIT Sloan School of Management in 1955. After graduating, he worked as a project engineer for General Electric, as well as the Central Intelligence Agency. Williamson received an MBA from Stanford University in 1960, and his PhD from Carnegie Mellon University in 1963. A student of Ronald Coase, Herbert A. Simon and Richard Cyert, he specializ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anticipatory Repudiation
Anticipation is an emotion involving pleasure or anxiety in considering or awaiting an expected event. Anticipatory emotions include fear, anxiety, hope and trust. When the anticipated event fails to occur, it results in disappointment (if positive event) or relief (if negative event). As a defence mechanism Robin Skynner considered anticipation as one of "the mature ways of dealing with real stress.... You reduce the stress of some difficult challenge by anticipating what it will be like and preparing for how you are going to deal with it". There is evidence that "the use of mature defenses ( sublimation, anticipation) tended to increase with age", yet anticipation of negative events itself tends to decrease with age. Desire "Anticipation is the central ingredient in sexual desire." As "sex has a major cognitive component — the most important element for desire is positive anticipation". One name for pleasurable anticipation is excitement. More broadly, anticipation is a ce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Assessment
Broadly speaking, a risk assessment is the combined effort of: # identifying and analyzing potential (future) events that may negatively impact individuals, assets, and/or the environment (i.e. hazard analysis); and # making judgments "on the tolerability of the risk on the basis of a risk analysis" while considering influencing factors (i.e. risk evaluation). Put in simpler terms, a risk assessment determines possible mishaps, their likelihood and consequences, and the tolerances for such events. The results of this process may be expressed in a quantitative or qualitative fashion. Risk assessment is an inherent part of a broader risk management strategy to help reduce any potential risk-related consequences. Need Individual risk assessment Risk assessment are done in individual cases, including patient and physician interactions. Individual judgements or assessments of risk may be affected by psychological, ideological, religious or otherwise subjective factors, which impa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chartered Institute Of Procurement & Supply
The Chartered Institute of Procurement & Supply (CIPS), formerly the Chartered Institute of Purchasing & Supply, is a global professional body working for the procurement and supply profession in many regions of the world. It promotes best practice and provides services for non-professionals and its over 64,000 members in 180 countries. It received its Royal Charter from Queen Elizabeth II in 1992, and offered its members Chartered Status in 2014; members are eligible for Chartered Status after completing a programme of continuing professional development including the successful completion of the CIPS ethics test. CIPS promotes and develops high standards of professional skill, ability, and integrity among all those engaged in procurement and supply chain management. Its headquarters are located in Easton on the Hill, just inside Northamptonshire, near Stamford, Lincolnshire but it has offices around the world and partnerships in other countries where it has a presence. CIPS ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Governance
Governance is the process of interactions through the laws, social norm, norms, power (social and political), power or language of an organized society over a social system (family, tribe, formal organization, formal or informal organization, a territory or across territories). It is done by the government of a state (polity), state, by a market (economics), market, or by a social network, network. It is the decision-making among the actors involved in a collective problem that leads to the creation, reinforcement, or reproduction of social norms and institutions". In lay terms, it could be described as the political processes that exist in and between formal institutions. A variety of entities (known generically as governing bodies) can govern. The most formal is a government, a body whose sole responsibility and authority is to make binding decisions in a given geopolitical system (such as a sovereign state, state) by establishing laws. Other types of governing include an o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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