Supplier Agreement Life Cycle

Managing the supplier agreement life cycle enables all key stakeholders of the supplier agreement; the procurement agent, the catalog administrator, and the supplier to track and monitor the execution cycle of the agreement and initiate and manage changes to the agreement including cancellations.

Life Cycle Tasks

Key Life Cycle Tasks:

• Open agreement for release once approved and accepted

• Track agreement execution status

• Reassign agreement ownership from one agent to another

• Control downstream activities

• Control amendment activities

• Notify agent when agreement nears expiration

• Finally close the document

Life Cycle Features

Key Life Cycle Features:

• Streamlined work centers for agents and suppliers

  • Quick access to active agreements

  • Highlight lifecycle events requiring attention

• Comprehensive life cycle management actions

• Renegotiate agreements

  • Initiate sourcing events for expiring agreements

• Monitor agreement execution status

  • Quick access to release documents

  • Simplified drill down to document history, revision history, and change history