Redesigning Your Logistics Network
July 23, 202512:00 PM ET / 11:00 AM CT / 9:00 AM PT / 5:00 PM GMTDuration: 60 minutesSponsor: US BankAlready registered? Click here to log in.
Bolster Your Biz by Dodging Tariffs: Strategies to Slash Production Costs
These days, even if your products are Made in the USA, the foreign-sourced components can lead to steep tariffs, putting a strain on your bottom line. Tune in to this webinar to learn some nifty tricks on how to root out foreign content in your supply chain, swap out those money-draining suppliers, and make swift modifications without ruffling regulatory feathers and threatening your asset management game.
Sponsored by
Enrichment Data:
Navigating the Tariff Minefield: Proven Strategies for Businesses
To keep your supply chain tariff-free and maintain robust asset management strategies, businesses can employ a mix of smart practices:
Nabbing Foreign Content and Banking on Better Suppliers
Mapping Your Supply Chain
- Spot all your suppliers and raw materials involved in manufacturing.
- Enhances supply chain visibility and alerts you to potential tariff trouble and regulatory headaches.
Diligent Risk Assessment
- Probe supplier records for political exposure, sanctions risks, lack of transparency, and shoddy reputation.
- Leverage tools like blockchain for foolproof records and valid product provenance.
Market Research and Supplier Hunting
- Zero in on prospective replacement suppliers that roam tariff-friendly zones or boast lower duties.
- Thoroughly vet new candidates' capabilities, quality standards, and financial health to ensure they're the real deal.
Negotiating with the Oldies but Goodies
- Engage in cooperative negotiations with existing vendors, enlightening them on the tariff implications and pooling resources to smoothen cost bumps.
- Toggle through your contracts to tease out clauses such as force majeure, material adverse change, and more that could help negotiate more favorable terms.
Tariff Classification Revamp
- Correctly classify incoming goods per the Harmonized Tariff Schedule (HTS) to sidestep misclassification and exorbitant duties.
- Savvy classification could reveal exemptions and product exclusions that might lessen tariff rates.
Continuous Monitoring and Adjustments
- Regularly reassess and fine-tune your supply chain to stay agile and adaptable to market vagaries and shifting tariff policies.
Asset Management Mastery
Diversify Your Supplier and Logistics Crew
- Cut the cord on suppliers and transportation providers that anchor you too tightly and expose you to risk.
- Form contingency deals with secondary players to head off supply interruptions.
Predictive Analytics for the Win
- Deploy AI and machine learning to suss out demand patterns, optimal transportation routes, and maintenance needs.
- Implementing this tech can bolster your supply chain's resilience by fortifying it against potential disruptions.
Be Prepared: Load up on Buffer Stock
- Reserve extra inventory for critical or high-demand items to maintain a steady supply flow when disaster strikes.
- Stashing aside safety stock cushions your business against supply chain pressures.
Don't miss this golden opportunity to turbocharge your supply chain management skills and wring some savings out of your production costs! See you there!
In the webinar titled "Bolster Your Biz by Dodging Tariffs: Strategies to Slash Production Costs", sponsored by US Bank, businesses can learn how to navigate the tariff minefield by employing various strategies such as mapping their supply chain to spot potential foreign content, diligent risk assessment, market research, and supplier hunting to find tariff-friendly alternatives. Additionally, businesses can master asset management by diversifying their supplier and logistics crew, leveraging predictive analytics, and maintaining buffer stock to ensure a steady supply flow and reduce production costs.
