In contract management, it is important for Contract Managers to have good Knowledge of management, communication, conflicts & culture management and negotiation skills, not only in relation to customers and suppliers, but also in relation to facilitating the necessary interactions and processes internally (e.g. liaise between management, procurement, sales, logistics, operations, legal and finance). Knowledge management skills in contract management, therefore, are a must have by Contract Managers.
In other words, to have a competent and proactive contracting process, it requires the resources, knowledge, skills and abilities, right social poise and motivation to create the most value of the contracted relationship. Improving contracting is not only about improving the customer/supplier relationships, but also the international relationships among business functions and all stakeholders to create a smooth, lean contracting process.