Skip to main content
Mobile
  • Finance, Accounting & Economics
  • Global Business Management
  • Management, Leadership & Organisation
  • Marketing & Sales
  • Strategy
  • Technology & Operations
HS Talks HS Talks
Subjects  
Search
  • Notifications
    Notifications

    No current notifications.

  • User
    Welcome Guest
    You have Limited Access The Business & Management Collection
    Login
    Get Assistance
    Login
    Forgot your password?
    Login via your organisation
    Login via Organisation
    Get Assistance
Finance, Accounting & Economics
Global Business Management
Management, Leadership & Organisation
Marketing & Sales
Strategy
Technology & Operations
Case study

Hitting the procurement trifecta : How FHLB San Francisco transformed and aligned procurement, risk and diversity in the middle of a pandemic

Kelly Gear, Tom Rogers and Jennifer Ulrich
Journal of Supply Chain Management, Logistics and Procurement, 4 (2), 156-170 (2021)
https://doi.org/10.69554/CSKG6152

Abstract

Procurement transformations involve a strategic review and realignment of an organisation’s procurement function to address critical operational gaps. This paper focuses on the execution of such transformation activities within a heavily regulated financial services organisation that faced several internal and external gaps. Gaps included a heavy reliance on suppliers to maintain critical operations, increased regulatory oversight and a lack of standardisation and organisational integration within the procurement function needed to service internal customers. A successful transformation for such an organisation required a focus on three primary pillars (workstreams): procurement, supplier diversity and supplier risk. Each workstream addressed a unique set of challenges and, as such, were carried out independently; however, the interrelated nature of these challenges called for strong planning, shared resources and parallel efforts. The results of the initial gap assessments showed a need for procurement team right-sizing (in terms of resources and role definitions), a revision of core policy and standard operating procedures, and a re-evaluation of the technologies that supported both procurement operations and regulatory reporting/compliance. The transformation, embodied by the three pillars above, addressed each of these gaps. This transformation began the reimagining of the procurement function but work in this space is ongoing. Requirements around third-party risk management, supplier diversity and the regulatory landscape will continue to shift and evolve. Regular monitoring of the effectiveness of this transformation must be conducted, and strategic pivots and change management efforts must be undertaken to ensure long-term success.

Keywords: procurement transformation; supplier diversity; supplier risk management; stakeholder engagement; regulatory compliance

The full article is available to subscribers to the journal.

Already a subscriber? Login or review other options.

Author's Biography

Kelly Gear is the Senior Vice President, Chief Procurement Officer and Operational Excellence at Federal Home Loan Bank of San Francisco, a cooperatively owned wholesale bank. Kelly is responsible for multiple business domains at the bank and in 2019, she initiated a holistic transformation across procurement, supplier diversity and supplier risk management and successfully delivered higher value across the organisation. Kelly has 25 years’ experience spanning multiple industries and positions.

Tom Rogers is the Founder and CEO of Vendor Centric, a national consulting firm that helps organisations take a risk-based approach to creating more value and less risk with vendors and other third parties. Tom is certified as both a public accountant and contract management professional and writes and speaks frequently on the topic of third-party management.

Jennifer Ulrich is the Senior Director, Advisory at Corcentric, a global provider of market-leading sourceto- pay, order-to-cash and fleet solutions. Jennifer is recognised industry-wide as an authority on procurement, finance and digital transformation, with over a decade of consulting experience successfully leading large-scale organisational improvement initiatives across various industries.

Citation

Gear, Kelly, Rogers, Tom and Ulrich, Jennifer (2021, December 1). Hitting the procurement trifecta : How FHLB San Francisco transformed and aligned procurement, risk and diversity in the middle of a pandemic. In the Journal of Supply Chain Management, Logistics and Procurement, Volume 4, Issue 2. https://doi.org/10.69554/CSKG6152.

Options

  • Download PDF
  • Share this page
    Share This Article
    Messaging
    • Outlook
    • Gmail
    • Yahoo!
    • WhatsApp
    Social
    • Facebook
    • X
    • LinkedIn
    • VKontakte
    Permalink
cover image, Journal of Supply Chain Management, Logistics and Procurement
Journal of Supply Chain Management, Logistics and Procurement
Volume 4 / Issue 2
© Henry Stewart
Publications LLP

The Business & Management Collection

  • ISSN: 2059-7177
  • Contact Us
  • Request Free Trial
  • Recommend to Your Librarian
  • Subscription Information
  • Match Content
  • Share This Collection
  • Embed Options
  • View Quick Start Guide
  • Accessibility

Categories

  • Finance, Accounting & Economics
  • Global Business Management
  • Management, Leadership & Organisation
  • Marketing & Sales
  • Strategy
  • Technology & Operations

Librarian Information

  • General Information
  • MARC Records
  • Discovery Services
  • Onsite & Offsite Access
  • Federated (Shibboleth) Access
  • Usage Statistics
  • Promotional Materials
  • Testimonials

About Us

  • About HSTalks
  • Editors
  • Contact Information
  • About the Journals

HSTalks Home

Follow Us On:

HS Talks
  • Site Requirements
  • Copyright & Permissions
  • Terms
  • Privacy
  • Sitemap
© Copyright Henry Stewart Talks Ltd

Personal Account Required

To use this function, you need to be signed in with a personal account.

If you already have a personal account, please login here.

Otherwise you may sign up now for a personal account.

HS Talks

Cookies and Privacy

We use cookies, and similar tools, to improve the way this site functions, to track browsing patterns and enable marketing. For more information read our cookie policy and privacy policy.

Cookie Settings

How Cookies Are Used

Cookies are of the following types:

  • Essential to make the site function.
  • Used to analyse and improve visitor experience.

For more information see our Cookie Policy.

Some types of cookies can be disabled by you but doing so may adversely affect functionality. Please see below:

(always on)

If you block these cookies or set alerts in your browser parts of the website will not work.

Cookies that provide enhanced functionality and personalisation. If not allowed functionality may be impaired.

Cookies that count and track visits and on website activity enabling us to organise the website to optimise the experience of users. They may be blocked without immediate adverse effect.