The stages of contract management can be broken down into pre-signature (creation, negotiation/collaboration, and review/approval) and post-signature (administration/execution, renewal/termination, and reporting/tracking).
Procurement contract management is the process of managing contracts related to Procurement and purchases made as a part of legal documentation of forging work relationships with customers, vendors, or even partners. It comprises negotiating the terms and conditions of contracts.
Procurement contract management is about the managing of contracts associated with procurement or purchasing as part of legal documentation shared with partners, suppliers or even customers.
Contract management concerns the 'contract execution' and 'contract termination & evaluation' phases (under the slogan: 'you can only manage a contract if it exists'). Supplier management on the other hand involves the entire contract lifecycle, from determination of needs to contract termination.
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