Art of Procurement 816: Managing Procurement Risk Amid Tariff Volatility W/ Alan Arcand
“During COVID, we went from just in time to just in case. Unfortunately, now supply chains have to factor in risk mitigation. Finding alternative sources of supply might be a little more pricey, but it reduces the risk.” - Alan Arcand, Chief Economist at Canadian Manufacturers & Exporters
Economic uncertainty and tariff volatility continue to shape procurement strategies and supply chain decisions across North America. As businesses grapple with unpredictable policy shifts, the need to interpret nuanced economic signals accurately has become critical to maintaining stable operations and safeguarding organizational profitability.
To decode these trends and recommend timely strategies, Philip Ideson spoke with Alan Arcand, Chief Economist at Canadian Manufacturers and Exporters, at the Supply Chain Canada National Conference.
In this conversation, Alan highlights key factors procurement leaders should monitor, including the inflation implications of tariff decisions, investment behaviors influenced by economic uncertainty, and the profound impact all of this has on manufacturing sectors, particularly automotive.
Alan also discusses:
- How to navigate conflicting economic indicators in the U.S. to improve procurement foresight
- Understanding tariff-driven supply chain disruptions in manufacturing sectors, particularly related to steel and aluminum
- Ways to adapt procurement strategies to shifting North American economic and political fluctuations
- Utilizing strategic diversification, including nearshoring and friendshoring, to mitigate risk
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