How Savvy Suppliers can Survive & Thrive during the Tariffs Whiplash!

Description

In this episode of #TheSavvySupplier, HRG CEO Boyd Evert & Al Frank are joined by Woodridge Retail Group CEO Jon Allen, and they discuss the implications of #Tariffs for #RetailSuppliers. They share how the lessons learned from the #2018TradeWar between the United States and #China can help Suppliers to know the most likely path forward in 2025. They emphasize the importance of communication, understanding costs, and the need for suppliers to adapt their #SourcingStrategies in light of current economic uncertainties. The conversation also touches on the potential for #FutureTradeAgreements and the necessity for suppliers to prepare for unpredictable #MarketConditions while seeking opportunities amidst challenges.

Takeaways

Over-communication is essential for managing tariff impacts.
Understanding your costs is crucial for effective management.
Suppliers must be transparent with retailers about pricing changes.
Companies with multiple sourcing options will be more resilient.
The consumer may ultimately bear the cost of tariffs.
Historical lessons from 2018 should guide current strategies.
Suppliers should prepare for potential inventory challenges.
Ignoring market changes can lead to significant risks.
There are opportunities for suppliers who adapt quickly.
Maintaining a long-term perspective is vital in uncertain times.

Titles

Navigating Tariffs: Lessons from 2018
Economic Impacts of Tariffs

Sound Bites

"Over communication is key."
"Through chaos, there's opportunity."
"It's a confusing time for suppliers."
"Wiser decisions, fewer deductions."

Chapters