These are unprecedented times with much uncertainty for
businesses, particularly those in the supply chain sectors, such as
logistics providers, manufacturers, providers of mechanical
equipment and customer facing service providers. Whilst you cannot
meticulously plan for the unforeseeable, you can be as prepared as
possible for what may come.
Contract due diligence
- Allocate staff to carry out contract
due diligence.
- Identify all key supply chain
contracts within your business. Understand whether any contracts
are interdependent (e.g. is the ability to perform obligations
under a contract dependent on the supply of goods or the provision
of services by others?)
- Know who is responsible for the
day-to-day management of key contracts within your business and
that of your customers and suppliers.
