Aerospace & High-Tech Marketing and Sales

Posts by ContractExec on aerospace & high-tech marketing and sales management which deals with pre-contracting marketing & sales tasks,  with a focus on profit and loss and business value.

It is a component of commercial management in its wider meaning which establishes the contractual & commercial framework and guideline for the organizations that deliver/ receive services or projects from inception to completion of each business cycle.

Basically, commercial management is a focal point with a core role to ensure that the organization’s interests are safeguarded in all its business activities and that company’s policies are adequately implemented and followed in every single transaction with customers, suppliers, and partners.

The activities related to aerospace and high-tech marketing and sales are not limited to activities before the signature of the contract. They continue up to the close-out.

Pre-contract tasks are a major component of a project or service as it sets out boundaries and measures on which the contract clauses are set. During the pre-contract phase, commercial management is supposed to help the company with the following essential tasks/requirements:

1. Ensure that company standards are applied and procedures are followed throughout all of the work processes.
2. Monitor competition.
3. Ensure that required due diligence is undertaken so technical, commercial, financial, and legal risks are identified and mitigated.
4. Ensure that costs are benchmarked and represent value for money within the competition and selection perimeters.
5. Future disputes are avoided and managed through applicable terms.
6. Ensure that the solution or service is well defined and endorsed by the competent department.
7. Obligations, liabilities, deliverables, responsibilities penalties, and so on are fairly managed and defined during pre-contract work.
8. Ensure that local & international laws, regulations, conventions, and licenses are considered.

In addition to the above-detailed responsibilities, the commercial management in most organizations is a point of contact that works as the formal channel for communications with external parties and is authorized to agree upon business matters.