Unveiling Hidden Costs: Rethinking Procurement and Sourcing Decisions with Tony Hines

Unlock the secrets to smarter sourcing with Tony Hines on the Chain Reaction Podcast, as we unravel the iceberg theory of costs in procurement. Ever wondered how hidden costs like travel, relationship management, and quality control can sink your bottom line? Tony, with his extensive research background in the UK fashion industry, reveals how these unseen expenses often outweigh the initial savings of low unit prices. Prepare to shift your focus from merely hitting sales targets to embracing a more comprehensive understanding of procurement costs, ensuring your decisions are truly value-driven.As we contrast the benefits of UK suppliers against overseas options, Tony helps us appreciate the intangible perks of sourcing locally, like reliability and seamless communication. Discover why opting for the cheapest option might not always be the smartest move, and how recognizing hidden costs can influence economic policies and everyday purchasing decisions. Join us in advocating for a more thoughtful approach to sourcing that emphasizes long-term value over short-term savings. Get ready to challenge conventional wisdom and transform your procurement strategy with insights that could redefine your sourcing choices.Send us Fan MailSupport the show THANKS FOR LISTENING PLEASE SUPPORT THE SHOW You can support the podcast by following the link here. It makes a big difference and helps us make great content for you to listen to. Follow like and share the Chain Reaction Podcast with colleagues and friends on social media: Facebook, Twitter, LinkedIn.News about forthcoming programmes click hereSHAREPlease share the link with others so they can listen too https://chainreaction.buzzsprout.com/shareLET US KNOWIf you have any comments, suggestions or questions then just direct message on Linkedin or X (Twitter)REVIEW AND RATE If you like the show please rate and review it. Every vote helps.About Tony Hines and the Chain Reaction Podcast – All About Supply Chain AdvantageI have been researching and writing about supply chains for over 25 years. I wrote my first book on supply chain strategies in the early 2000s. The latest edition is published in 2024 available from Routledge, Amazon and all good book stores. Each week we have special episodes on particular topics relating to supply chains. We have a weekly news round up every Saturday at 12 noon. ...