462: Procurement Unlocked: Sourcing Best Practices in a Tariff-Driven World, with ProcureAbility

Carlos Perico of ProcureAbility talks about sourcing best practices in a tariff-driven world & how to turn procurement from cost center to competitive advantage   IN THIS EPISODE WE DISCUSS:   [04.29] An introduction to Carlos and ProcureAbility. "All we do is procurement! It's our speciality, it's what we're passionate about. And that's key." [05.59] Tariffs: what they are, and why supply chain professionals need to pay attention. [07.07] Diversification: Some of the strategies companies can employ to build agile supply chains for long-term resilience, the big challenge with long-term strategies, and why your supply chain is like Tetris. "Diversification is the name of the game. You don't want to have all your eggs in one basket – but the challenge now is that the baskets are getting very complex!!" "For those long-term strategies to pay off, you have to start now." [14.08] How companies can utilize scenario planning or future-proofing to prepare for further tariff fluctuations. "You need to know your risk. It sounds simple… but you need to go deeper. You need to dive deeper into understanding your supply chain at different levels, your supplier network – and data becomes even more important." [19.17] Dual-sourcing: what it is, and the impact that implementing dual-sourcing strategies can have on risk mitigation. "Communicate to your stakeholders, because we human beings have a tendency to forget the risk when it's not present... Communicate the risk you're trying to mitigate in advance, build that relationship with the business." [24.57] How to effectively work with suppliers: How fluctuating tariffs are impacting supplier pricing and contract stability, and how businesses can think about strengthening long-term partnerships whilst retaining the need for short-term agility. [31.19] Working with technology: How businesses can leverage AI and data analytics to predict and mitigate tariff impacts. "Live data visibility is critical right now… Technology is allowing us to be immediately alert… So you can prepare and be more educated." [37.09] How AI helps businesses to shift the focus from damage control to proactivity, and turn procurement into a competitive advantage rather than a cost center. "Everybody wants to mitigate cost… But you need to continuously evolve your procurement organization to become more of a business support and value driver, as opposed to just one cost center." [39.49] The key lessons to learn from this discussion. [42.01] How Let's Talk Supply Chain listeners can benefit from a limited-time discount with ProcureAbility.   RESOURCES AND LINKS MENTIONED:   Head over to ProcureAbility's website now to find out more and discover how they could help you too. You can also connect with ProcureAbility and keep up to date with the latest over on LinkedIn or YouTube, or you can connect with Carlos on LinkedIn. If you enjoyed this episode and want to hear more about procurement, read The Three Biggest Challenges For Procurement – And What To Do About Them or listen to 243: Reinventing Freight Procurement with Emerge or 211: Transform Your Procurement Process, with Zip.