3rd parties set to thrive in volatile, disruptive trading world

This fireside chat recap is from Thursday, the third day of FreightWaves’ Global Supply Chain Week.

FIRESIDE CHAT TOPIC: The impact of tariffs on the supply chain.

DETAILS: John Harms, vice president of commodities and logistics at Brown Brothers Harriman, says the combined effect of the Trump tariffs, COVID lockdowns and the Russia-Ukraine war have put a premium on the services of savvy third parties that can source products and services from anywhere in the world.

KEY QUOTES FROM HARMS:

“Increased supply chain disruptions will be a boon to the global commodity trading sector. They are the ones best positioned to provide reliable, flexible service to the end customers, because they are not supplying from just one single supplier in one country.” 

“We are entering a new golden age for commodity traders.”

“I don’t think reshoring is the driving factor [for businesses]. It’s finding the new lowest cost of production.”

“It comes down to diversification. It gives you optionality. This is where the skills of logistics companies become increasingly important.”

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Editor: Mark Solomon