Macroeconomic changes are impacting global and domestic supply chains as political agendas are implemented. From protectionism in the US under Trump, and Europe affected by Brexit – and now proposed tariffs by the US and retaliation by trading partners.
These changing priorities mean that procurement needs to be aware of policy movements and their associated economic and cost impacts.
This is a lot to take on – particularly with strategic areas of procurement coming to the fore, such as supplier enabled innovation – but imperative for effective cost rationalisation. Supply chains count for a large proportion of the finished industrial product, so focusing on this area directly impacts the bottom line.
This month, Subash Chandar of The Smart Cube, a specialist in providing customised solutions to clients in procurement & supply chain, wrote on this subject for Manufacturing Business Technology, covering:
- The changing global landscape and its impact on cost rationalisation
- Tools to support cost rationalisation in the supplier base
- How to assess where you are on your cost rationalisation journey
Click here to read the full article.