SIG The Sourcing Industry Landscape

Innovations in Third Party Management w/ FedEx, Florida Blue and Fannie Mae

Welcome to a special edition of the Sourcing Industry Landscape podcast, hosted by Dawn Tiura.

This episode highlights team finalists for Sourcing Industry Group’s (SIG) Future of Sourcing Awards in the Innovations in Third Party Management category.

The teams nominated for the Innovations in Third Party Management category have demonstrated excellence in their field and represent the best example of innovation, transformation and/or leadership in third-party management.

About the Teams:

  • FedEx – Purchased Transportation (PT) is an increasing spend category for FedEx in which third-party party contracted carriers are utilized for balancing lanes and meeting additional network capacity requirements. Drowning in data, yet starving for insights, Sourcing realized the importance of going digital. The team engineered a scalable and sustainable platform for real-time monitoring of the domestic freight market. Learn how the powerful reporting and analytics functionalities of the Intelligent Dashboard bolster decision analytics and enable FedEx to better capitalize on market opportunities.
  • Florida Blue – Florida Blue created processes to assess, monitor and mitigate supplier risk across a diverse supply chain, with the goal being to revise the supplier relationship process from the ground up, continue to meet regulatory requirements and become a customer of choice. You’ll learn how their team achieved reductions in average time to complete an initiative, increased effectiveness of the team, hard dollars savings increases and avoidance/value increases.
  • Fannie Mae – Fannie Mae implemented an asset management solution as part of its Category Management and Enterprise Data Governance program. Learn how this solution included a complete data service inventory that provided a single source with consolidated and accurate view of data purchases. This enabled enterprise visibility into Third Party Data usage and eliminated fragmented buying decisions, with results that included in increased transparency; improved efficiency; improved process for enabling services to be assigned shared across multiple users and departments; reduced costs; increased utilization and economies of scale; and enterprise purchase leverage.

About this Series:

Over the coming weeks, listeners will be introduced to the teams and individuals whose work has had significant impacts on the industry, the organizations for which they work and their colleagues. The Future of Sourcing Awards will take place at SIG’s Fall Global Executive Summit on October 17 in Rancho Mirage, California.

Links and Resources:

About the author

Philip Ideson

Philip Ideson is passionate about the role that procurement professionals and leaders can plan in creating competitive advantage for their organizations in ways that go beyond the traditional value proposition.

Philip founded Art of Procurement as a way for the procurement community to learn from each other, increasing the impact they have on their organizations. In 2017, he co-founded Palambridge, a virtual platform of procurement experts, technology, and intelligence. Palambridge provides a broad range of flexible procurement solutions, available on-demand.

Prior to Art of Procurement and Palambridge, Philip enjoyed a career that spanned the procurement value chain, working across three continents for organizations such as Accenture, Procurian, Ally Financial, Pfizer and Ford Motor Company.