Problem: Discuss how you would secure and manage supplier contracts by completing the following activities:
1. Explain how you would utilise contract and relationship management techniques, tools and philosophies to foster synergistic opportunities within supply chain management.
2. Explain how contracts are reviewed and adapted to effectively secure supplier relations according to the supply chain management strategy.
3. Identify and explain between 3 and 5 terms and conditions relating to different types of contracts according to the supply chain management principles.
4. Explain how contract administration is undertaken on an ongoing basis to ensure proactive management of contracts according to the supply chain management strategy.