This guide will walk you through the features and workflows of the Tariff Management dashboard, helping you understand and manage your tariff exposure effectively.
What is the Tariff Management Dashboard?
The Tariff Management Dashboard provides instant visibility into suppliers that may be subject to tariffs, allowing you to take action accordingly. It offers detailed insights into supplier data, tariff statuses, and mitigation steps, ensuring you can make informed decisions to reduce risk.
Key Features
1. Comprehensive Supplier Overview
The dashboard provides a clear summary of each supplier's purchase history and current commitments:
Last 12M Purchase: Total PO spend over the last 12 months per supplier.
1 Month, 3 Month, and 6 Month Purchase Data: Additional timeframes are available through the Columns selection.
Open PO Amount: Understand your current exposure with the total amount on submitted Open POs.
2. Smart Country Mapping
The dashboard applies Smart Country Mapping to help identify suppliers' true countries of origin:
ERP Country vs. Smart Country:
ERP Country: Reflects the country code as defined in your system.
Smart Country: Recurrency estimates the supplier's country using all supplier address data and external data enrichment for geo-tagging.
Editable Fields: If Recurrency’s automatic tagging isn’t accurate, you can manually correct the Smart Country field.
Automatic Tagging Criteria: Only suppliers with >$0 in PO spend over the last year are automatically tagged.
3. Tariff Status Tracking
Stay informed about suppliers potentially impacted by tariffs:
Tariff Status: Suppliers flagged with a Smart Country in a tariffed country (currently Canada, China, and Mexico) will show a warning icon.
Mitigation Status: Assign a status to track next steps for each supplier, such as "Needs Review," "Under Negotiation," or "Approved."
4. Insightful Visualizations
Quickly interpret your exposure with visual charts:
Potentially Tariffed Suppliers Charts: Summarize spend from suppliers with or without tariff risk.
Green: Suppliers not impacted by tariffs.
Orange: Suppliers where Tariff Status shows the warning icon.
Mitigation Status Charts: Track the progress of your action plan.
Orange: Dollars associated with suppliers marked as "Needs Review."
Green: Dollars associated with suppliers where action has been taken.
5. Workflow Support
To make the most of the Tariff Management Dashboard, follow these steps:
Review Smart Country Data: Identify high-volume suppliers and verify the accuracy of their Smart Country field.
Identify Potential Tariffs: Filter suppliers by Tariff Status to identify those potentially impacted by tariffs.
Assign Mitigation Status: Track next steps by assigning a Mitigation Status.
Export Data: Export your data to CSV for further analysis.
Why Use the Tariff Management Dashboard?
Tariff changes are unpredictable. To effectively mitigate risk, you first need clarity on where your exposure lies. Many distributors struggle with fragmented data, making it difficult to get a clear picture. The Tariff Management Dashboard addresses this by:
Applying Smart Country Mapping to supplier location data.
Allowing you to tag suppliers even if they are indirectly impacted by tariffs.
Helping you create an action plan, whether that means finding alternatives, negotiating prices, or monitoring suppliers closely.
Stay Informed
As new tariffs roll out, Recurrency will keep you informed, ensuring you have the tools you need to navigate these changes effectively.