L4M8 Exam Dumps | What is contract performance review and continuous improvement?

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CIPS
Procurement and Supply in Practice
CIPS.L4M8.v2023-05-26.q38
Question 18

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Question 18/38

What is contract performance review and continuous improvement?

Correct Answer:

Contract performance review and continuous improvement is the stage 11 of the CIPS procurement and supply cycle.
In order to effectively manage supplier performance and contractual obligations, the suppliers per-formance against key performance indicators (KPI) should be reviewed regularly. This KPI should have been agreed doing the post contract award negotiation. In addition to review KPIs suppliers and the procurement team should work towards continuous improvement. This is a continuous ef-fort to improve product or services within an organization. This may involve improving quality, reducing waste in the supply chain and focusing on innovation. It is an ongoing process that works toward perfection.

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