Great Question: A Manufacturing Podcast
Managing Supply Chains in the Age of Tariffs (Production Pulse)
May 1, 2025
Darrell Edwards, a supply chain professor and former COO at La-Z-Boy, and Ji Li, a supply chain advisor and ex-Boeing director, delve into the evolving dynamics of supply chains amid changing tariffs. They discuss how geopolitical tensions and COVID-19 have forced companies to diversify sourcing strategies. With a focus on collaboration, they stress the importance of transparency, scenario planning, and leveraging technology for effective risk management, all while rethinking supply chains in a shifting global landscape.
24:25
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Quick takeaways
- Manufacturers are increasingly implementing diversification strategies like 'China Plus One' to mitigate risks amid tariff uncertainties.
- Effective supplier development through scorecards and communication enhances collaboration, allowing companies to proactively manage supply chain vulnerabilities.
Deep dives
Diversification Strategies in Supply Chains
Manufacturing companies are increasingly adopting diversification strategies to navigate supply chain uncertainties. A significant trend is the implementation of the 'China Plus One' strategy, where many large corporations are diversifying their supplier bases beyond China, with surveys indicating that up to 80% of these companies plan to have multiple sourcing options by 2024. This strategic shift places companies in a better position to mitigate risks associated with trade wars and other geopolitical issues. In contrast, small and medium-sized enterprises are often struggling to adapt, resorting to reactive measures like building up inventory instead of implementing long-term diversification plans.
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