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From a Walmart Post-Audit Surge⚡ to Shutdown Shockwaves🎢  to 50-year Mortgage Math➕ a Black Friday Forecast, this podcast episode is packed with news you can use!  Boyd & Al also delve into the new complexities of the retail industry and offer some encouragement to retail suppliers facing these challenges.

Keywords

#Walmart, #WalmartSuppliers, #RevenueDeductions, #GovernmentShutdown, #50yearMortgages, #BlackFriday, #retailindustry, #postauditclaims, #economicimpact, #consumerconfidence, #HRGAudit, #retailsuppliers

Takeaways

• The end of the government shutdown could boost the U.S. economy.
• 50-year mortgages might increase consumer spending.
• Black Friday's success is crucial for supplier confidence.
• Walmart suppliers face complex year-end post-audit claims.
• Retail industry complexity is increasing with new claim types.
• HRG offers support to suppliers dealing with claim complexities.
• Consumer confidence is key to economic recovery.
• Retail suppliers should focus on current business, not past performance.
• Tariffs and their impact on retailing are a major concern.
• HRG-audit.com is a resource for retail suppliers.

Chapters

• 00:00:00 Introduction and Government Shutdown
• 00:00:00 50-Year Mortgages and Economic Impact
• 00:00:00 Black Friday Outlook
• 00:00:00 Walmart's Year-End Audit Challenges
• 00:00:00 Retail Industry Complexity
• 00:00:00 Encouragement for Retail Suppliers

Welcome to “The Savvy Supplier,” your go-to podcast for navigating the ever-changing landscape of retail supply! Join us as we dive into expert insights and actionable tips to help retail suppliers save time and money. From tackling inflation to optimizing operations, we’ve got you covered. Tune in every week for strategies that empower you to thrive in a competitive market. Don't miss out—subscribe now and become a savvy supplier! 💡

www.HRG-audit.com
www.SavvySupplierPodcast.com

Need help with managing Deductions and implementing Supplier Best Practices? Help is here!
Email: [email protected]

#RetailSupplierDeductions
#RetailSupplier
#Post-AuditClaims
#HRG

"Wiser Decisions, Fewer Deductions"

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In this episode of The Savvy Supplier, Boyd Evert, CEO of HRG, and Kevin Stewart, Partner at Crowe, discuss the uncertain future of tariffs and effective strategies for risk mitigation. With the U.S. Supreme Court set to hear vital tariff cases the day after their Plenary Session at the RVCF conference, this conversation is timely and packed with insights crucial for Suppliers & Retailers alike.

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#### Key Topics Discussed:

- **Impact of Tariffs on Pricing:**

  - Understanding how tariffs affect pricing structures across the supply chain.

  - Who will absorb tariff costs?

- **Inventory Management Strategies:**

  - How to manage inventory levels in light of tariff-induced price changes.

  - The importance of proactive buying ahead of tariff implementation.

- **Case Studies and Real-World Examples:**

  - Analysis of past instances where tariffs significantly impacted pricing and inventory, particularly in consumer electronics and automotive sectors.

  - Lessons learned from 2018 demand surges and their implications for current strategies.

- **Communication and Alignment:**

  - The necessity for cross-departmental alignment among sales, finance, and supply chain teams.

  - Strategies for ensuring that all parties are on the same page regarding pricing and inventory management.

- **Key Takeaways for Conference Attendees:**

  - Focus on controllable factors amid volatility.

  - Importance of governance and rapid response strategies.

  - The need for effective communication and management of pricing deviations.

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- Register now to see Boyd & Kevin's Talk at the RVCF Conference at www.RVCF.com

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#### Episode Highlights:

Discussion of the upcoming Supreme Court hearing on tariffs.

Insights on managing inventory levels during tariff fluctuations.

The role of communication in effective risk management.

Key Takeaways for suppliers and retailers.

---

#### Subscribe & Review:

If you enjoyed this episode, please subscribe and leave a review! Your feedback helps us reach more listeners and grow our community.

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**Thank you for listening to The Savvy Supplier!** Our goal is to help you save Time & Money.  "Wiser Decisions, Fewer Deductions" 

See you next time!

Welcome to “The Savvy Supplier,” your go-to podcast for navigating the ever-changing landscape of retail supply! Join us as we dive into expert insights and actionable tips to help retail suppliers save time and money. From tackling inflation to optimizing operations, we’ve got you covered. Tune in every week for strategies that empower you to thrive in a competitive market. Don't miss out—subscribe now and become a savvy supplier! 💡

www.HRG-audit.com
www.SavvySupplierPodcast.com

Need help with managing Deductions and implementing Supplier Best Practices? Help is here!
Email: [email protected]

#RetailSupplierDeductions
#RetailSupplier
#Post-AuditClaims
#HRG

"Wiser Decisions, Fewer Deductions"

Send us a text

Kevin Stewart from Crowe joins Boyd & Al as they delve into the challenges faced by accounting teams amidst tariff uncertainties. Discover insights on risk management, financial reporting, and strategic planning to safeguard your business.

#Tariffs, #Accounting, #RiskManagement, #FinancialReporting, #StrategicPlanning

Takeaways: 

1. Stick to your process and playbook amidst uncertainty.
2. Understand the impact of tariffs on suppliers and customers.
3. Evaluate contract terms and their implications on pricing.
4. Develop a plan of action to manage financial risks.
5. Consider the variability in pricing and its effect on revenue.
6. Build strong relationships with suppliers and customers.
7. Use scenario planning to anticipate potential challenges.
8. Collaborate with legal and finance teams for informed decision-making.
9. Define a playbook for consistent and disciplined decision-making.
10. Engage in open communication with stakeholders.

Chapters:

• [00:00] Introduction and Overview
• [01:00] Challenges in Accounting Amidst Tariff Uncertainty
• [05:00] Impact on Suppliers and Customers
• [10:00] Strategies for Risk Management
• [15:00] Importance of Contracts and Pricing
• [20:00] Scenario Planning and Forecasting
• [25:00] Building Strong Relationships
• [30:00] Conclusion and Special Offer

Welcome to “The Savvy Supplier,” your go-to podcast for navigating the ever-changing landscape of retail supply! Join us as we dive into expert insights and actionable tips to help retail suppliers save time and money. From tackling inflation to optimizing operations, we’ve got you covered. Tune in every week for strategies that empower you to thrive in a competitive market. Don't miss out—subscribe now and become a savvy supplier! 💡

www.HRG-audit.com
www.SavvySupplierPodcast.com

Need help with managing Deductions and implementing Supplier Best Practices? Help is here!
Email: [email protected]

#RetailSupplierDeductions
#RetailSupplier
#Post-AuditClaims
#HRG

"Wiser Decisions, Fewer Deductions"

Send us a text

Keywords

finance teams, audit-ready, deductions management, accounting pitfalls, tariffs, internal alignment, documentation, growth strategies, risk management, supplier insights

Summary

In this episode of The Savvy Supplier, Al & Boyd talk with Kevin Stewart from Crowe, a Global Accounting Firm,  about the importance of building audit-ready finance teams, managing deductions effectively, and navigating the complexities of tariffs. They explore common accounting pitfalls, the significance of internal alignment, and the necessity of proper documentation. The conversation highlights the need for finance teams to be proactive in risk management and to adapt to market changes while maintaining a stable and structured approach to accounting processes.

Takeaways

• Managing your own function effectively is key to handling deductions.
• Understanding costs is crucial to avoid financial pitfalls.
• CFOs dislike surprises; clarity in financial processes is essential.
• Communication between finance and sales teams is vital for success.
• Being audit-ready means being prepared for change and uncertainty.
• Documentation is often overlooked but is critical for financial integrity.
• Growth requires a shift in finance team structure and processes.
• Internal alignment can prevent costly mistakes in pricing and deductions.
• Proactive risk management is essential for finance teams.
• Investing in proper systems can save significant costs in the long run.

Titles

• Building Audit-Ready Finance Teams
• Mastering Deductions Management

Sound Bites

• "Everyone hates surprises, especially CFOs."
• "We should be the lighthouse in the ocean."
• "I see concern, not panic, in the market."

Chapters

00:00

Building Audit-Ready Finance Teams

01:39

Managing Deductions Effectively

03:25

Common Accounting Pitfalls

04:48

Navigating Tariffs and Their Impact

06:36

Internal Team Alignment

12:28

Trends in Deductions Management

14:35

Addressing Concerns in the Market

15:39

Importance of Documentation

17:10

Transitioning Companies and Growth Challenges

22:18

Driving Culture in Finance Teams

25:01

The Role of CFOs in Risk Management

Welcome to “The Savvy Supplier,” your go-to podcast for navigating the ever-changing landscape of retail supply! Join us as we dive into expert insights and actionable tips to help retail suppliers save time and money. From tackling inflation to optimizing operations, we’ve got you covered. Tune in every week for strategies that empower you to thrive in a competitive market. Don't miss out—subscribe now and become a savvy supplier! 💡

www.HRG-audit.com
www.SavvySupplierPodcast.com

Need help with managing Deductions and implementing Supplier Best Practices? Help is here!
Email: [email protected]

#RetailSupplierDeductions
#RetailSupplier
#Post-AuditClaims
#HRG

"Wiser Decisions, Fewer Deductions"

Send us a text

In this episode of "The Savvy Supplier," we delve into the potential chaos that could ensue if the Supreme Court rules that Billions in tariffs must be returned. Join Al Frank and Boyd Evert as they explore the complexities of tariff refunds, the ripple effects on inventory costs, and the looming threat of lawsuits. Discover why documenting every step and understanding risk exposure is crucial for suppliers navigating these turbulent times. Tune in to gain insights and strategies to safeguard your business in an uncertain economic landscape.

Call to Action: For a free Tariffs Risk Analysis, contact HRG at HRG-audit.com to identify risk exposure, assess financial impacts, and implement mitigation strategies.

Hashtags: #Tariffs #SupremeCourt #SupplyChain #BusinessStrategy

Welcome to “The Savvy Supplier,” your go-to podcast for navigating the ever-changing landscape of retail supply! Join us as we dive into expert insights and actionable tips to help retail suppliers save time and money. From tackling inflation to optimizing operations, we’ve got you covered. Tune in every week for strategies that empower you to thrive in a competitive market. Don't miss out—subscribe now and become a savvy supplier! 💡

www.HRG-audit.com
www.SavvySupplierPodcast.com

Need help with managing Deductions and implementing Supplier Best Practices? Help is here!
Email: [email protected]

#RetailSupplierDeductions
#RetailSupplier
#Post-AuditClaims
#HRG

"Wiser Decisions, Fewer Deductions"

Send us a text

St. Louis vs. Kansas City? Miami vs. Des Moines?  Colorado Springs vs Coral Springs? Who are the Winners & Losers in these Battles over Excessive Defectives?  Boyd Evert & Al Frank explore various case studies, highlighting the impact of store management, employee training, local regulations, and environmental conditions on product quality and defectives claims. Ultimately, the conversation emphasizes the importance of data analysis in recovering revenue from invalid deductions claims.

Takeaways
* Same supplier, same products, different cities can yield different results.
* Store audits can reveal patterns of behavior affecting defectives.
* Manager philosophies can influence merchandising and defect rates.
* Shipping and transportation differences can impact product quality.
* Environmental conditions play a role in product defectiveness.
* High crime areas may correlate with higher defect rates.
* Employee training is crucial in managing inventory effectively.
* Local regulations may affect consumer protection and defect claims.
* Turnover can lead to training gaps and increased defectives.
* Data analysis is essential to uncover root causes of defects.

Chapters
00:00
The Tale of Two Cities: An Introduction
00:57
Understanding Defectives: Root Causes and Patterns
03:17
Case Studies: St. Louis vs. Kansas City and Beyond
05:29
Environmental Factors: The Impact of Conditions on Products
08:02
Shrink Issues: The Role of Self-Checkout and Employee Training
10:12
Regulations and Employee Turnover: Hidden Influences
11:51
Final Thoughts: Data-Driven Insights on Defectives

Welcome to “The Savvy Supplier,” your go-to podcast for navigating the ever-changing landscape of retail supply! Join us as we dive into expert insights and actionable tips to help retail suppliers save time and money. From tackling inflation to optimizing operations, we’ve got you covered. Tune in every week for strategies that empower you to thrive in a competitive market. Don't miss out—subscribe now and become a savvy supplier! 💡

www.HRG-audit.com
www.SavvySupplierPodcast.com

Need help with managing Deductions and implementing Supplier Best Practices? Help is here!
Email: [email protected]

#RetailSupplierDeductions
#RetailSupplier
#Post-AuditClaims
#HRG

"Wiser Decisions, Fewer Deductions"

Send us a text

What are the implications of newly imposed 50% tariffs on a wide range of consumer goods?  Will it threaten Black Friday sales?  Al Frank & HRG CEO Boyd Evert discuss the market uncertainty and the potential impact on consumer behavior. Boyd emphasizes the need for suppliers to take proactive measures and offers Suppliers a FREE RISK ANALYSIS to help them navigate the challenges posed by these tariffs and market conditions.

Takeaways
50% tariffs are affecting over 400 product categories.
There is significant uncertainty in the market due to tariffs.
Suppliers may need to pass costs onto consumers in the long term.
Retail suppliers face difficult decisions regarding pricing.
The impact of tariffs could affect over $300 billion in imports.
Consumers may choose to buy items early due to uncertainty.
Black Friday sales may be softer than expected this year.
Companies need to prepare for compliance with new regulations.
Risk analysis can help suppliers minimize exposure to tariffs.
Proactive strategies are essential for navigating market challenges.
titles
Navigating the Tariff Landscape: What Suppliers Need to Know
The Uncertain Future of Consumer Goods Amid Tariffs
Sound Bites
"There's a lot of known unknowns"
"I think it's going to be a long year"
"Wiser decisions, fewer deductions"
Chapters
00:00
Impact of Tariffs on Retail Suppliers
04:01
Consumer Behavior and Black Friday Uncertainty
06:15
Risk Analysis and Strategic Moves for Suppliers
06:55

Welcome to “The Savvy Supplier,” your go-to podcast for navigating the ever-changing landscape of retail supply! Join us as we dive into expert insights and actionable tips to help retail suppliers save time and money. From tackling inflation to optimizing operations, we’ve got you covered. Tune in every week for strategies that empower you to thrive in a competitive market. Don't miss out—subscribe now and become a savvy supplier! 💡

www.HRG-audit.com
www.SavvySupplierPodcast.com

Need help with managing Deductions and implementing Supplier Best Practices? Help is here!
Email: [email protected]

#RetailSupplierDeductions
#RetailSupplier
#Post-AuditClaims
#HRG

"Wiser Decisions, Fewer Deductions"

Send us a text

With 30% tariffs on Mexican imports and 35% on Canadian goods potentially going into effect this Friday, the landscape for retail suppliers could shift dramatically. We explore the potential ripple effects on pricing, supply chains, and the broader economic implications.

Keywords

#tariffs, #retailsupplier, #supplychain, #pricing, #HRG, #CanadaTariffs, #MexicoTariffs, #tradedeals, #consumerimpact

Summary

The conversation delves into the implications of upcoming tariffs on imports from Mexico, the EU, and Canada, focusing on how retail suppliers should prepare for potential price increases and supply chain disruptions. Key themes include the importance of communication, managing accruals, and understanding supply chain dependencies. The discussion also highlights the role of HRG in providing strategic advice to navigate these challenges effectively.

Takeaways

• 30% tariffs on imports from Mexico and the EU are imminent.
• Retail suppliers must manage accruals due to uncertainty.
• Communication is crucial in understanding expectations.
• Canada's trade deal with the EU may impact U.S. exports.
• Automotive and packaging sectors may face significant challenges.
• Hidden costs in the supply chain could lead to price increases.
• Retailers need to notify customers about price hikes in advance.
• Short-term absorption of costs may lead to long-term consumer impact.
• HRG offers expertise to help suppliers navigate tariff challenges.
• Strong relationships with retailers can facilitate better communication.

Titles

• Navigating Tariffs: What Retail Suppliers Need to Know
• The Impact of Tariffs on Supply Chains

Sound Bites

• "30 % tariffs are set to go into effect"
• "Canada seems to be in a precarious situation"
• "HRG is ready and able to help"

Chapters

00:00

Navigating Tariffs and Their Impact on Retail

03:00

Understanding Supply Chain Dependencies and Risks

06:00

Leveraging Expertise for Strategic Advantage

Welcome to “The Savvy Supplier,” your go-to podcast for navigating the ever-changing landscape of retail supply! Join us as we dive into expert insights and actionable tips to help retail suppliers save time and money. From tackling inflation to optimizing operations, we’ve got you covered. Tune in every week for strategies that empower you to thrive in a competitive market. Don't miss out—subscribe now and become a savvy supplier! 💡

www.HRG-audit.com
www.SavvySupplierPodcast.com

Need help with managing Deductions and implementing Supplier Best Practices? Help is here!
Email: [email protected]

#RetailSupplierDeductions
#RetailSupplier
#Post-AuditClaims
#HRG

"Wiser Decisions, Fewer Deductions"

Send us a text

Discover overlooked secrets to enhance profitability and become a more savvy CEO. Learn how to tackle revenue deductions, optimize resource allocation, and maintain strong retail partnerships.

Key Takeaways:
The importance of visibility into cost drivers; Strategies for reducing excessive defective claims; Navigating the complexities of on-time-in-full delivery rates; Maintaining strong relationships with retail partners while defending against invalid chargebacks.

 #Leadership #BusinessStrategy #RevenueManagement #retailsuppliers #RetailDeductions 

Call to Action: Tune in to gain insights that could transform your business approach. Don't miss out on these valuable strategies!

Welcome to “The Savvy Supplier,” your go-to podcast for navigating the ever-changing landscape of retail supply! Join us as we dive into expert insights and actionable tips to help retail suppliers save time and money. From tackling inflation to optimizing operations, we’ve got you covered. Tune in every week for strategies that empower you to thrive in a competitive market. Don't miss out—subscribe now and become a savvy supplier! 💡

www.HRG-audit.com
www.SavvySupplierPodcast.com

Need help with managing Deductions and implementing Supplier Best Practices? Help is here!
Email: [email protected]

#RetailSupplierDeductions
#RetailSupplier
#Post-AuditClaims
#HRG

"Wiser Decisions, Fewer Deductions"

Send us a text

What are the implications of #BoomerangTariffs for the #retailsupplier ?What are the challenges they face on pricing strategies?  How can you leverage communication with the Retailer?  How can you mine the data that is so essential in these uncertain times?  #HRG CEO Boyd Evert & Al Frank explore how tariffs could lead to potential unintended consequences for various industries. 

Takeaways

• Boomerang tariffs can significantly impact suppliers' pricing strategies.
  
  
• Suppliers need to maintain open communication with retailers.
  
  
• Documenting conversations and decisions is crucial during tariff changes.
  
  
• Retailers often dictate pricing, leaving suppliers at a disadvantage.
  
  
• Tariffs may accelerate the trend of reshoring production.
  
  
• Data analysis is essential for suppliers to manage inventory effectively.
  
  
• Unintended consequences of tariffs can affect various industries.
  
  
• Suppliers should be aware of seasonal demand fluctuations.
  
  
• Maintaining a paper trail can protect suppliers during audits.
  
  
• Clear expectations between suppliers and retailers can mitigate risks.
  
  
• Navigating the Nightmare of Boomerang Tariffs
  
  
• Strategies for Suppliers in a Tariff-Heavy Market
  
  

Sound Bites

• "If I were a supplier, I would be terrified."
  
  
• "Retailers have you over a barrel."
  
  

Chapters
00:00
Understanding Boomerang Tariffs
02:51
Supplier Strategies Amid Tariff Uncertainty
05:07
The Impact of Tariffs on Production and Reshoring
08:00
Data-Driven Decision Making for Suppliers
10:52
Unintended Consequences of Tariffs
13:09
Final Thoughts for Suppliers in Uncertain Times

Welcome to “The Savvy Supplier,” your go-to podcast for navigating the ever-changing landscape of retail supply! Join us as we dive into expert insights and actionable tips to help retail suppliers save time and money. From tackling inflation to optimizing operations, we’ve got you covered. Tune in every week for strategies that empower you to thrive in a competitive market. Don't miss out—subscribe now and become a savvy supplier! 💡

www.HRG-audit.com
www.SavvySupplierPodcast.com

Need help with managing Deductions and implementing Supplier Best Practices? Help is here!
Email: [email protected]

#RetailSupplierDeductions
#RetailSupplier
#Post-AuditClaims
#HRG

"Wiser Decisions, Fewer Deductions"