Utilizing Team Engagement in Procurement

Image of Team Engagement

SIG University Certified Sourcing Professional (CSP) program graduate Shawnie Albritton shares how category management can help with cross-team engagement and its usefulness in procurement.


There are many things I have learned during this course that is beneficial to my current position at Raymond James in Corporate Procurement. To elaborate on a few, I found presenting to Senior Executives to be very interesting. The business must be concise and to the point to write an executive summary. It's imperative only to provide the information needed for the senior executives to decide. They will inquire with the business owner should they need further details. This will allow the business to obtain business approvals to proceed with a particular engagement, including but not limited to a formal Request for Proposal.
 

Cross Functional Procurement

 
At Raymond James, we rely heavily on the "cross-functional team" within corporate procurement and outside the department. Having the right players involved in a project is key to its success. Within procurement, you could have a legal team, sourcing team, transactional team, and support team. Within Raymond James, our legal team sits outside the department. Our supplier risk management team also sits outside of the corporate procurement department. While engaging the right team for a particular project, all key people must be involved. This could be anyone from information technology support, legal, supplier risk management, and even the supplier outside the company running the engagement. All teams must be aligned for a project to be done correctly and finished on time. 
 
We utilize "category management" at Raymond James. I used what I learned and applied it to the different sourcing people on my team. We have category managers that handle corporate real estate, facilities, software, and hardware, to name a few. We also have an executive team that handles many professional services engagements and renewals. Part of the category management could also be "Total Cost of Ownership." It is the category manager, or sourcing as they are referred to at Raymond James, that manages the cost modeling, negotiations, etc. and take full ownership of all engagements within that category right down to execution of the contract and follow up once the contract has expired and renegotiation is needed. I also learned that knowing the "Project Management Principals" is key to any engagement. Whether you entirely lead the project or are acting on behalf of the stakeholder, the management of that project determines the outcome of the engagement.   We utilize 6 of the 12 principals heavily at Raymond James. 
 

Strategic Vision

 
There has to be a vision and mission to a project. The team's goal is to have the same idea to see that the project is successfully launched.   The business objectives of that project are critical. This could also encompass some of the vision and mission of the project. There has to be an expectation for standards of the engagement. Each team member of that project plays a role in that engagement. Then there are intervention and execution strategies that need to be taken into account—the project manager has a vast understanding to keep everyone engaged and on time. As mentioned above, organization alignment is key to a project. You must have all the right team members on that team from internal with Procurement, business owners, process owners, stakeholders, executive stakeholders, and even the outside suppliers if there is one involved. Lastly, there needs to be measurement and accountability.
 
Measure the process and success of the engagement and hold those accountable for doing their part. Their part may seem small but could hinder the whole process of the engagement. These are just a few things I have learned while taking this course with SIG University. I look forward to additional certifications in the future!
 

The Certified Sourcing Professional (CSP) Program is a 10-week course that focuses on the hard and soft skills of sourcing, including strategic sourcing and outsourcing methodologies, as well as best practices in negotiations.

 

Shawnie Albritton, Sr. Procurement Operations Analyst, Raymond James

My name is Shawnie Albritton, and I work in Corporate Procurement at Raymond James as a Sr. Procurement Operations Analyst. In addition to 25 years of managing in the medical field, I have started my career at Raymond James, learning the ins and outs of Procurement. I work on all match exceptions invoice issues between the supplier and our procure-to-pay system, PeopleSoft. I also perform internal audits to ensure we are receiving the correct pricing. There are many tasks that fall into my wheelhouse in my new position.Those may include holding weekly meetings between various departments and external suppliers to ensure the correct pricing is being applied to our internal catalogs, etc.

I have been able to utilize my knowledge from my years in the medical field and apply them to my new career in the financial industry. Over the past several months, I have received the “rookie of the quarter” award and graduated with my Certified Purchasing Professional Certification from ISM. I will continue to seek opportunities to increase my knowledge in my field.