There are opportunities hidden in the current trade uncertainties, economic populism and trade wars. In Kate Vitasek's column for SupplyChainBrain, she notes now is the time for supply chain optimization. Maine Pointe CEO Steve Bowen notes one of the most important factors in this environment is establishing a level of trust – a big challenge given that tariffs, according to Steve, are not conducive to cooperation. To achieve that level of cooperation, Kate suggests supply chain partners have to move away from their traditional transaction-based model that focuses on cost savings, to a model focusing on value creation instead.
In the current climate of “economic populism,” tit-for-tat tariffs and the uncertainties surrounding Brexit, which can instigate trade wars and the disruption of global trade deals in Europe and the Pacific rim, buyers, sellers and their supply chains have an opportunity to step up and cope with major challenges through cooperation, transparency and flexibility.