Through Intel's transformation journey,they recognized that their approach to contracting strategy was an area that needed to be re-engineered. Two years ago they decided to establish a contract management team within their organization. This team would exist as its own team not reporting into legal. It took a lot of effort and time to move away from long and cumbersome legal reviews of contracts, to stream-lining the process and moving the primary responsibility to the contract management team. Two years on in their journey, Intel now has a team of 20 contract managers and have been able to prevent value leakage and increase efficiency.
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