Five key elements of contract and supplier management are discussed. First, the (1) organizing contract, which will prove that it is not an action that is effortless. The implementation and interpretation of contract depends on (strategic) choices made by the organization. Next comes (2) contract administration, which is an important precondition for successful contract management. A contract that is collecting dust on some shelf, after all, is difficult to manage. Then (3) performance management. In other words, monitor performance and make adjustments where necessary. Only a few (strategic) supplier relationships are eligible for further development. Supplier Management (4) is essential in this situation. And finally (5) managing the complex web of stakeholders. A good contract manager is after all a good relationship manager who knows how to build a relationship with all stakeholders (both internal and external), effective communication allows for laying the foundation for a successful collaboration between customer and supplier.