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Sat, May

Navigating Supply Chain Disruptions: How Mid-Sized Companies Are Embracing Technology Amid Tariff Changes

Navigating Supply Chain Disruptions: How Mid-Sized Companies Are Embracing Technology Amid Tariff Changes

World Maritime
Navigating Supply Chain Disruptions: How Mid-Sized Companies Are Embracing Technology Amid Tariff Changes

As trade regulations evolve, mid-sized businesses in the U.S. and canada are rethinking their approach to supply chain management. Rather than viewing supply chains merely as a cost center, these companies are recognizing them as vital components of their overall strategy. this shift is prompting investments in technology, data analytics, and compliance measures.

A recent report from RSM US highlights insights from over 300 supply chain leaders surveyed just before notable tariff announcements by the Trump administration.The findings reveal that while 93% of respondents trust their supply chain data, a striking 91% acknowledge the need for further investment in technology to enhance operational efficiency. Additionally, 88% expressed interest in how artificial intelligence could revolutionize their supply chains.

Dr.Tu Nguyen from RSM canada noted that the pandemic has pushed businesses to refine their data practices and gain clearer insights into sourcing logistics. “Although conditions have improved since then, ongoing trade uncertainties serve as a reminder for companies lacking transparency within their operations,” he explained.

Interestingly, while 85% of firms feel ready for shifts in trade policies and tariffs, there’s still some apprehension among them. About 40% foresee negative repercussions from new tariffs; conversely, 36% anticipate benefits while 24% believe they will remain unaffected.

Sustainability and compliance are also on many companies’ radars—74% have already invested in tech upgrades and employee training to meet new standards. However,Canadian firms seem slower to act; only 58% reported taking steps compared to a more proactive 78% of U.S.-based companies.

Tax implications are another area under scrutiny; over three-quarters of respondents indicated they’ve begun preparing for potential changes in tax legislation with an eye toward improving efficiency. Among those with established plans, key strategies include leveraging technology (67%), implementing structured risk management processes (60%), and integrating tax professionals into supply chain planning (49%).

“Today’s landscape demands that your supply chain be resilient rather than just optimized,” remarked Jon Caforio from RSM US LLP.

as mid-sized enterprises navigate this complex habitat filled with shifting regulations and emerging technologies like AI—it’s clear that adaptability is crucial for success moving forward!

Content Original Link:

Original Source fullavantenews.com

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Original Source fullavantenews.com

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