While companies worldwide are having to manage the uncertain trade environment because of tariffs, some are better suited to navigate the situation than others, write Rick Wartzman and Kelly Tang for The Wall Street Journal.
More specifically, companies that are well-managed and innovative often fit the description.
Robert Handfield, executive director of the Supply Chain Resource Cooperative at North Carolina State University, coined the moniker Tariff-Resilience Index to describe the factors that play into this.
“Having a strong supply chain is essential to being a well-run company,” Handfield said. “If you’re not investing in that aspect of your business, it’s a fatal flaw.”
The Drucker Institute also created a ranking to perform similar calculations.
According to the two rankings, a number of companies fit the description, earning high marks in both.
This includes Philadelphia-based FMC Corporation.
The agricultural sciences company is headquartered in University City and works to advance farming through innovative and sustainable crop protection technologies.
The rankings use four dimensions to determine which companies are in best position to navigate the unpredictable tariff situation.
They are purchasing management systems, strategic sourcing capabilities, breadth of supply-market intelligence, and the degree of collaboration fostered throughout its supplier network.
Read more about the companies that are in the best position to deal with tariffs and why in The Wall Street Journal.
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