This assignment addresses the importance of effective contract administration within the global procurement environment.

The new Chief Procurement Officer in your global organization has addressed the need to improve the contract administration function immediately. She has asked your team to prepare a paper on Contract Administration for the rest of the staff. In addition, she desires a short training presentation for the staff on the subject for use in an upcoming "town hall" global webinar with all procurement staff.

Prepare a paper of no less than 1,000 words addressing the following items:

• Identify and analyze the elements of contract administration.

• Explain how contract administration supports developing an environment of World Class Supply Chain Management.

• Identify performance criteria and develop an example supplier performance matrix to show how the firm would use this tool to measure a suppliers' performance.