Method123 Ltd

Method123 Ltd

October 19, 2009 11:15 ET

Get the Most Out of Supplier Relationships

LA HABRA, CALIFORNIA--(Marketwire - Oct. 19, 2009) - Establishing a strong supplier contract is imperative to good project management according to Method123 Ltd, leaders in online Project Management Templates.

"Procuring services or supplies from external suppliers is a core part of any project," says Jason Westland, CEO of Method123 Ltd. "It's really important to set out upfront the terms and conditions, responsibilities and expectations for delivery."

"Once you've chosen your preferred supplier, preparing a supplier contract is a sure fire way to get the most out of your supplier relationship and make sure you get what you need from them at the right time," he says.

"It can also be used to measure their performance."

A supplier contract is an agreement between a business and an external supplier for delivery of specific products or services. It is a legal agreement and can be used to measure the supplier's performance. The contract will specify the items to be supplied, the timeframes, responsibilities, pricing and payment terms.

Method 123's supplier contract template includes all of the core sections and tells you how to complete them step-by-step. It has pre-completed tables and content as well as practical real-life examples. The Project Management Template will enable you to specify the deliverables to be provided by the supplier, responsibilities of both parties, performance criteria and review process, pricing schedule, invoicing process and the contractual terms and conditions.

The supplier contract should be prepared as part of the planning stage in the project life cycle, prior to project execution. The supplier contract is part of the comprehensive project management templates offered by Method123 and forms part of the Project Management Kit. The kit includes all of the project management tools and templates needed to successfully deliver projects. It comprises hints and tips, real-life examples, charts and tables that cover every activity in the project lifecycle from initiation to planning, to execution, to closure.

Method123's online project management solutions include a Project Management Methodology and Project Management Software, which combined with the project management template kit, present a unique and compelling offering to project managers around the world.

For more information, visit Method123.com.

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