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In this episode of The Savvy Supplier, HRG CEO Boyd Evert and Al Frank discuss the current landscape of tariffs and their implications for suppliers. They explore the shared burden of tariffs among suppliers, retailers, and consumers, and the challenges of forecasting in an uncertain environment. The conversation delves into pricing strategies, inventory management, and the vulnerabilities of supply chains, particularly in consumer electronics. Boyd offers practical advice for suppliers on how to navigate these challenges and emphasizes the importance of communication and partnership with retailers.

Takeaways

• Suppliers, retailers, and consumers will share the burden of tariffs.
• Forecasting is challenging due to the unpredictability of tariffs.
• Pricing changes are risky in the current market.
• Overstocking can lead to significant losses for suppliers.
• Communication with retailers is crucial during volatile times.
• Consumer electronics are particularly vulnerable to supply chain issues.
• Suppliers should explore alternative sourcing options.
• Understanding product components can help mitigate risks.
• Building relationships with retailers can lead to better outcomes.
• Ongoing conversations are more effective than one-time notifications.

Welcome to “The Savvy Supplier,” your go-to podcast for navigating the ever-changing landscape of retail supply! Join us as we dive into expert insights and actionable tips to help retail suppliers save time and money. From tackling inflation to optimizing operations, we’ve got you covered. Tune in every week for strategies that empower you to thrive in a competitive market. Don't miss out—subscribe now and become a savvy supplier! 💡

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