Introduction on Contract Management and Logistics

        Private logistics service providers can cause betterment in the supply chain performance, provided that investment and execution of long-term logistics contracts are alright. In the context of public health setting, this document would enlist advice on getting optimal performance from logistics contract, as well as describing duties and abilities required from a logistics contract manager, and would summarize the tools for contract management. Contract logistics companies handle activities like designing and planning the chain of supplies, as well as designing factories, managing warehouses, transport and distribution of goods. They also manage orders and payments and provide aspects of customer service. (Goodrich, 2013)

Offer, acceptance and settlement of contracts Management and Logistics

        Written agreements, binding letters of intent, memoranda, lease, deed, transfer, instrument, assignment, obligation, certificates are examples of contracts. Whenever it could be done, choosing an agreement type that suits your transaction is important. Contracts with employees and with third parties are very important, and this piece would look at third party contracts (Cai, et al. 2013).

        Companies prefer not to manage contracts during the agreement terms even though provisions might need to be looked at. Deadlines that cause penalties, milestones that can give bonuses, and automatic renewals are significant for a firm. Combining these with legal and regulatory requirements which require information handling clearly shows that legal contract management principles are needed for economical usage of resources (Fournier 2015).

Contract Settlement Process of contracts Management and Logistics

        60% of contracts renew because they were not terminated by the buyer without the buyer even knowing about them. 50% self renew which occur on higher contractual terms. If a company terminates a contract after that, it could have to pay liquidated damages which are the damages in the event of a breach. For seller, practical management of contracts by supplier engages renewal and upselling of sales to existing customers. This can cause positive referrals, which is something all sales team aspire for. (Kerschberg, 2011)

Settlement of contract management of contracts Management and Logistics

        C-legal executives and directors need to sponsor the implementation of contract management and explain its importance by referring to strategy, bottom line and legal compliance for this to become the norm in corporate practices. The existing means are not sufficient. Th4ere needs to be supervision of contracts from their start to their end, through a number of software systems. (Oluka and Basheka 2014).

Letters of intent of contracts Management and Logistics

        Before an agreement is finalized between two parties, letters of intent (LOI) are prepared which are documents that outline the agreement. It may be done during the time period negotiations happen, or after their conclusion. The LOIs cause convenience by doing clarification of key points of the deal. They are employed in factoring industry. An example is iuing the LOI after a financier receives an application and evaluates it to have good consequences. The letter will also specify the special terms, a reflection of which is in the debt purchase agreement and conditions that should be met, all the while containing the matter of the contract in the financier’s standard terms and conditions. LOIs resemble written contracts as their postulates are binding, but their binding is not entire and absolute as they are subject to contract (Franciswilksandjones.co.uk 2010).

        It should be mentioned for financiers that possess a signed offer letter and operate a facility for a client, but not the fully signed facility agreement, that the Supreme Court has decided that LOI could be interpreted as a binding if its resemblances to a formal contracts are quite clear. It can also be considered as a binding if the parties’ intent behind that letter was for it to be a binding. For RTS Flexible Systems Limited v Molkerei Alois Müller Bmbh & Company KG [2010] UKSC 14, LOI was found to be the binding agreement despite the absence of a formal contract (Franciswilksandjones.co.uk 2010).

References  of contracts Management and Logistics

Cai, Xiaoqiang, Jian Chen, Yongbo Xiao, Xiaolin Xu, and Gang Yu. 2013. "Fresh-product supply chain management with logistics outsourcing." Omega 752–765.

Çelebi, Dilay, Demet Bayraktar, and Levent Bingöl. 2010. "Analytical Network Process for logistics management: A case study in a small." Computers & Industrial Engineering 432–441.

Fournier, Julia. 2015. 5 POWERFUL WAYS TO IMPROVE YOUR CONTRACT MANAGEMENT. September 17. https://www.hcmworks.com/blog/5-powerful-ways-to-improve-your-contract-management.

Franciswilksandjones.co.uk. 2010. Is a letter of intent a binding contract? October. https://www.franciswilksandjones.co.uk/site/fwjsays/businessmoney/letter_of_intent.html.

Goodrich, Ryan. 2013. What is Contract Management? July 24. https://www.businessnewsdaily.com/4813-contract-management.html.

Kerschberg, Ben. 2011. Legal Contract Management And The Modern Enterprise. April 6. https://www.forbes.com/sites/benkerschberg/2011/04/06/legal-contract-management-and-the-modern-enterprise/#56a523204337.

Knowledgetomanagecontracts.blogspot.com. 2012. Contract Management. March 21. http://knowledgetomanagecontracts.blogspot.com/2012/03/managing-acceptance-and-testing.html.

Oluka, Pross N., and Benon C. Basheka. 2014. "Determinants and constraints to effective procurement contract management in Uganda: a practitioner’s perspective." Int. J. Logistics Systems and Management, 17 (1): 104-120.

Selviaridis, Kostas. 2015. "Performance-based contracting for advanced logistics services Challenges in its adoption, design and management." International Journal of Physical Distribution & Logistics 592-617.