There are many contract management strategies that organizations can use to manage their contracts effectively, including: 1. Reviewing and auditing contract portfolios regularly: This helps to identify any potential problems or areas for improvement. 2. Implementing contract management software: This can automate many of the contract management processes, making them more efficient and effective. 3. Training contract managers: This helps to ensure that contract managers have the skills and knowledge necessary to manage the contract process. 4. Creating standard contract templates: This can help to save time when drafting new contracts. 5. Negotiating contract terms upfront: This can help to avoid potential problems later on. 6. Monitoring contract performance: This helps to identify any issues that need to be addressed. 7. Resolving contract disputes promptly: This helps to avoid further complications down the road.