Contract and Risk Management for Supply Chain Management Professionals

I recently started a new job where knowledge of contracts , supply chains and risk management are imperative. This book has been the perfect tool to learn more about these topics as well as refresh and reinforce what I already know. The authors blend the concepts with the practical so that the guidance is clear and immediate. In plain English , the book addresses how to identify, assess, mitigate and manage commercial risks. I did a pretty extensive internet search for the right resource to help me deal with commercial risk and this book was by far the best resource I could find. One important focus of the book is drafting good work scopes and managing change orders. Knowing when negotiations end and a contractual commitment is reach is also addressed. The dangers of false assumptions and apparent authority are also highlighted. The importance of good faith is stressed. They key is to use contracts to remove or reduce risk and build certainty and predictability into your projects and supply chain. The authors both have impressive credentials and practical experience in the field. They do an amazing job of taking what is complex subject and making in it readily understandable. Succinct and to the point, the book is an easy and enjoyable read. It’s as real world as it gets.

After working at a large publishing house just out of graduate school, I opened my own business which I have been managing for over 30 years. Needless to say, I thought I knew a lot about managing my inventory. But at the urging of a trusted colleague who sent me a copy of Paul Humbert’s Contract and Risk Management for Supply Chain Management Professionals, I began reading just to prove myself right… and boy was I ever wrong! From the very first chapter, Mr. Humbert provides a wealth of knowledge that I have been able to assimilate and quickly place into use at my own facility. He offers valuable insights about how to avoid some of the common mistakes supply chain professionals make (especially Project Managers, Contract and Purchasing Agents) and yes, Executives like myself! (I just purchased a new copy for my colleague because hers was getting so much wear and tear).The details provided on negotiating contracts alone are worth their weight in gold! I never understood the importance of getting contract language right. This book steers me in that direction... And I will certainly make Mr. Humbert’s other more specialized books (i.e. Model Contract Terms and Conditions and his ‘Playbook' for the Supply Chain Manager part of my library right here in the company conference room. Paul Humbert’s ideas and methods are tried and true... after all, they come from a 30 expert in the Supply Chain Field. This is a book that should be in every Supply Chain Manager’s office. I’ll even go so far as to recommend it to my own competition1  Contract and Risk Management for Supply Chain Management Professionals

As I embark on a new career in the Supply Chain Management industry, this valuable book truly is a "survival manual!". It connects the dots between all the complex variables in this challenging industry. The authors have a particular skill in taking what can be a complex topic and explaining it in a clear and simple manner. I look forward to reading the authors' other books on the topic which is timely given the challenges facing supply chains around the world.

A good book is often a series of contradictions. It must be concise but comprehensive, clear but address the complex, useful to the novice as well as the sophisticated, instructive but readable. This book achieves that difficult objective. In addressing what can be a somewhat dry if not difficult topic, the authors pull off a magic trick by making it an interesting as well as informative read. It might not be the first book you pull off the shelf for a casual read but if you are in the business of contracting or managing contracts it is an indispensable survival tool. And let's face it, most of the time you are going to have to act as your own attorney so you might as well know enough not to get taken advantage of. Learn to avoid the traps.

My husband and I both run separate businesses so knowing about contracts and how to manage them is important to our bottom line. Although we have access to good attorneys, they can't be with us every day, every step of the way. One of the benefits of this book is that it teaches you how to avoid problems and recognize risks. In addition, after reading this book we are better able to articulate the issue to our attorneys in correct timing. This both reduces our contract risks and saves us money on attorney billings. Finally, the book is well-written and surprisingly enjoyable to read! Highly recommend!

As a small business owner, I found Mr. Humbert's book extremely helpful. I deal with client contracts frequently, and found the information regarding rights, risks, responsibilities & resources applicable and effectual for my business operations. The book was easy to understand and the chapter covering contract management practices answers any questions the reader may have regarding clear and concise contracts and possible problems that may arise. I highly recommend this book and look forward to Mr. Humbert's other books.

This is a must have for professionals working on Sourcing, Procurement and Contract Management. The language and the Topics covered by the author are friendly and well described with examples and suggestions. Highly recommended. It must be part of your personal library. Enjoy!