ECRI Releases Suggestions for Supply Chain Leaders in Wake of Tariffs

ECRI has released a list of ten ways that healthcare supply chain leaders can “minimize risks and build a more resilient supply chain” in the wake of new tariff challenges.

They first suggest that supply chain leaders “identify cost-effective functional equivalents to offset rising costs” by leveraging “data-driven tools and clinical evidence to assess equivalent products before integrating them into your supply chain.” They also say to “diversify supplier base to reduce dependence on single sources,” increasing ability to “pivot quickly if tariffs impact pricing or availability.” It is also important to “monitor supply chain risks with real-time recall notifications,” ensuring that these notifications reach the right people quickly.

Additionally, they recommend conducting “supplier vetting and contract reviews” to help “ensure compliance with quality standards and regulatory requirements.” Next, they say to “optimize inventory management to prevent shortages” and to “negotiate long-term contracts with key suppliers.”

Other strategies they suggest making use of include to “explore domestic sourcing options to reduce tariff exposure;” “stay informed and engage in advocacy efforts;” “assess tariff exposure using the harmonized tariff schedule (HTS);” and “use predictive replacement planning to optimize capital spending.”