Gigabit January 2019
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FANNIE MAE<br />
82<br />
the priorities and perspectives could<br />
sometimes be different between the<br />
two groups,” he explains.<br />
Fannie Mae is a U.S. governmentsponsored<br />
enterprise (GSE) that<br />
supplies financing to mortgage<br />
lenders. Fannie Mae celebrated its<br />
80th birthday in 2018. Karmacharya<br />
joined the company in 2013 and has<br />
been working on transforming the<br />
procurement space through a more<br />
business-facing function rather than a<br />
traditionally administrative process.<br />
“When I joined Fannie Mae, we didn’t<br />
have a category management type of<br />
function here and what I found talking<br />
to senior executives across the<br />
company was that they didn’t see<br />
value in procurement that does just<br />
transactional work. Obviously, there<br />
are trade-offs with minimizing cost,<br />
minimizing risk and speed of delivery.<br />
This interesting dynamic gave me a<br />
perspective on how you should really<br />
design a procurement organization.<br />
How can a group be really effective?”<br />
FUTURE PROCUREMENT<br />
Fannie Mae was keen to recruit<br />
procurement experts that could supply<br />
$109.9bn<br />
Approximate<br />
revenue<br />
1938<br />
Year founded<br />
7,200<br />
Approximate number<br />
of employees<br />
JANUARY <strong>2019</strong>
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