Year: 2025
Type: article
Abstract: examines the effects that trade tariffs have on a firm’s supply chain and how firms change their procurement practices as tariff regimes change. The study looks at how better understanding data from multinational organizations across manufacturing and retail can help understand the impact of rising protectionist actions and tariffs on supplier selection, sourcing closer to the main market, cost savings attempts and efforts to manage risks. According to the study, new trade tariffs make common low-cost sourcing methods less profitable for firms, so they are now more interested in nearshoring or purchasing from several locations. On top of this, businesses now rely on digital visibility tools and boost their connections with suppliers to make their supply chain more flexible in reaction to tariffs. The study found that geopolitical forecasting and trade policy review are new skills becoming important in strategic sourcing. All the evidence points to the idea that to deal with trade barriers, companies need adaptable sourcing methods supported by using data to guide their decisions for staying resilient and competitive. Such findings are useful for people leading procurement, setting policies and working in supply chains, as they must deal with today’s modern trade problems.
Author: Rohit Bhandari
Institution: Galgotias University
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4411221398