In procurement, we often find ourselves complaining about the timing of our internal customers\u2019 purchase plans.<\/p>\n
It\u2019s usually that they want everything unreasonably quickly. \u00a0Or, it\u2019s that they don\u2019t\u00a0involve the procurement department early\u00a0enough for us to do a good job.<\/p>\n
But, sometimes procurement should encourage internal customers to speed up their plans. \u00a0This is especially true when all signs point to an imminent and significant price increase.<\/p>\n
I thought about this today when reading about US President Donald Trump\u2019s\u00a0predicted imposition of tariffs targeting $200 billion of Chinese imports. \u00a0According to\u00a0Bloomberg, this may happen quickly as it is believed that Trump intends\u00a0\u201cto pull the trigger\u2026once a deadline for public input closes\u201d tomorrow.<\/p>\n
How soon those tariffs would go into effect is not known. \u00a0Nor is it known how long it will take the higher costs to trickle down to the consumer.<\/p>\n
But, we know that higher tariffs will certainly trickle down to the consumer if the tariffs go into effect. \u00a0And, it seems like there is a high probability that they will go into effect.<\/p>\n
And if they do, the smartest time to buy any of the affected goods is now.<\/p>\n
You\u2019re an expert in the markets you deal in. \u00a0Think about the categories of goods and services that you buy. \u00a0Is there any writing on the proverbial wall that any of those goods and services have a high probability of substantially increasing in price?<\/p>\n
If so, it is not just a good idea, but your\u00a0duty<\/em>\u00a0to share that\u00a0expertise and insight with your internal customers. \u00a0If you need to encourage them to buy sooner rather than later in order to best serve your employer, then by all means encourage them.<\/p>\n Tell them, in so many words, to hurry up. \u00a0Light the fire under\u00a0their<\/em>\u00a0butts.<\/p>\n Boy, won\u2019t that be a welcome role reversal of sorts!<\/p>\n","protected":false},"excerpt":{"rendered":" In procurement, we often find ourselves complaining about the timing […]<\/p>\n","protected":false},"author":13,"featured_media":1710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"\n