EXECUTIVE AI STRATEGY INSIGHT basically a technologist to make use of it. With LightSource, you’ re solving real business problems with the latest technology, but we’ ve built the systems and infrastructure that make it seamless out of the box.
Q. HOW DOES LIGHTSOURCE EVOLVE IN REAL TIME TO HELP COMPANIES COMPLETE GLOBAL TRADE IN SUCH A CHALLENGING ENVIRONMENT?
» We always start with solving problems, not bringing technologies in search of problems. Right now, one of the big challenges is the evolving global trade and tariff environment.
We recommend a three-step process: identify, quantify, and mitigate.
First, identify what components or materials within your spend landscape will be impacted by tariffs. Second, quantify the actual impact – the value at risk. Tariffs might be 30 % one day, 150 % the next week, then 40 % the following week. We encourage people to have a view around risk that includes both expected impact and maximum value at risk.
Third, mitigate – figure out how to improve tariffs’ impact on your bottom line through tariff engineering, substantial transformation in different domiciles, reclassifying HTS codes, or changing product specifications.
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