MSE partners benchmarking exercise into improving the management of contracts
A great source of value for many businesses is in managing contracts better. After all, are you getting the benefits you worked so hard to capture in the contract award? Improvements in procurement and lean thinking are prevalent or being developed in many businesses and organisations but contract management is often the poor relation.
The University of Southampton and SCMG were commissioned by the Royal Bank of Scotland Group in 2011 to undertake research into benchmarking contract management. This led to the development of a contract management benchmarking tool (CMB) which is probably the most comprehensive benchmarking tool available that focuses on the contract management process.
The initial survey attracted over 70 high profile businesses and organisations. This included 84% from the private sector and 60% listed businesses including FTSE100 companies. Such was the success of the survey and the welcome it received from leading businesses that the survey will run again in 2012.
Participants can join a network of existing and high calibre businesses and contract managers to network and share best practice. The CMB benchmarking tool benchmarks participants in three main categories and nine elements.
Participants can take part in the survey and receive their report free of charge in return for submitting their survey response. This can be used internally to guide improvement agendas. All data and information is maintained on a confidential basis separate from RBS. Other benefits include focus groups, networking events, a LinkedIn group and a conference planned in Edinburgh in November 2012.
CMB 2012 will run from the 1st of June until the end of September 2012.
MSE are supporting the CMB2012 project and would encourage marine businesses to participate. This will help the researchers create an MSE peer group and provide a focal point for developing contract skills and capabilities as well as sharing best practice.
You can find out more information at http://www.cmb2012.com or email help@cmb2011.com
Douglas K Macbeth, Deputy Director Southampton Marine and Maritime Institute is responsible for the project; Douglas is Professor of Purchasing and Supply Chain Management at Southampton Management School
D.K.Macbeth@soton.ac.uk
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