S3. E1 Why tariffs raise prices—and what smart buyers can do about it

Send us Fan MailTariffs can feel like a policy headline—until they hit your PO, your budget, and your delivery dates. We unpack what a tariff really is, why governments reach for it, and how those choices cascade through price, lead time, and supplier behaviour. From sudden trade-war spikes to quietly expanding duty lists, we map the real routes by which costs climb and explain why “someone else will absorb it” is more wish than plan.We walk through a practical playbook built for busy procurement teams. Start with risk visibility: use STEEPLE to spot geopolitical shifts, model best/base/worst cases, and translate scenarios into category actions. Then stabilise supply with smart options—onshoring for control, nearshoring for balance, and friendshoring to lean on reliable trade partners. Diversify suppliers before you need them, qualify alternates, and calculate total landed cost so you are optimising reality rather than the unit price. Where volatility bites hardest, reframe inventory: a tactical buffer of critical parts can be cheaper than firefighting expedites. Pair that with stronger SRM—offer term, volume, or faster payment in exchange for price holds, capped rises, or phased adjustments tied to objective indices.If you are a top class procurement professional who cares about resilient supply chains, predictable margins, and fewer 11pm escalations, this one is for you. Subscribe, share with your team, and tell us which tariff tactic you’d use first—and why.Support the showPlease get in touch as we love to hear from you listeners! You can use the "text" function above or drop us on email: [email protected] or visit our website www.letstalkprocurement.co.ukIt would also mean the world if you can drop us a cheeky 5* rating on your platform of choice, Cya Later