Tariffs and Procurement: Building an Action Plan to Cut Back Risk

Are you prepared for the impact of tariffs on your supply chain? The global trade landscape is constantly shifting – and we’re anticipating some seismic shifts… 

“The results of the US elections forces us to focus on Donald Trump’s stance on tariffs. During his campaign, Trump was explicit about his intention to increase tariffs, including significant hikes on certain categories of goods (a global baseline tariff of 10%-20% on all imported goods, up to 100% for goods from countries that seek to reduce their dependence on the US dollar, 100% tariffs or more on cars imported from Mexico, etc.).”

Procurement professionals are at the forefront of managing tariff exposure, navigating disruptions, and implementing strategies to mitigate cost increases while ensuring supply chains remain efficient and resilient.

Understand and create an action plan to effectively manage tariffs leveraging the new Spend Matters series on tariffs & procurement.

What This Series Covers

This mini-series is designed to help you understand tariffs and how they impact procurement and supply chain professionals. It offers guidance on developing an action plan for enhanced tariff management capabilities and explores how technology can support these efforts.

Series Content

Part 1: What tariffs are and what they mean for Procurement

Available on the main Spend Matters site here 

• Explores the fundamentals of tariffs, their purpose, and their implications for procurement and supply chains;
• Introduces the concept of the rule of origin (ROO).

Part 2: Tariff management and building an action plan

This article requires sign-up for a free basic Spend Matters Insider membership

• Outlines strategies for creating an action plan to mitigate the risks associated with trade tariffs.
• Details the process of performing a risk/cost impact analysis

Part 3: Tech capabilities for proper tariff management

Note: Available for paying Insider members only

• Examines the technologies that can support procurement in tariff management.
• Highlights digital capabilities for tariff management, including supply network visibility, product and part management, cost visibility and intelligence, contract management, analytics and simulations, sourcing, and supply chain execution

Part 4: Tariff management and technology: A deep dive into how specific segments and vendors can help

Available for paying Insider members only

• Addresses use cases and different provider segments that support tariff management.
• Provides a detailed look at various vendor types (best-of-breed sourcing, best-of-breed supplier management, suites, etc.) and their support for tariff management capabilities (including key differentiators).