In this episode, we analyze Q1 2025 earnings reports and analyst calls from major suppliers across IT services, logistics, cloud, and healthcare. They highlight economic uncertainty and tariffs as key factors impacting client spending and leading to project delays and reduced volumes. AI is a core focus for all suppliers, with IT service providers integrating it to enhance efficiency and share productivity gains with customers. Efficiency and cost management programmes are prevalent, such as UPS's network reconfiguration and Infosis's Project Maximus. Sectoral differences are noted, with IT services facing margin pressures, logistics adjusting to changing trade flows, and cloud experiencing strong growth driven by AI. The episode concludes by emphasising the challenges and opportunities these shifts present for procurement professionals, suggesting they evolve strategies to proactively partner with suppliers and build resilient supply chains.