# Strategic Sourcing During Volatile Times w/ Jim Pratt

- Show: [The Manufacturing Executive](https://hardwarepodcasts.com/podcast/the-manufacturing-executive)
- Published: 2022-03-08
- Length: 19m
- Episode: 92
- Page: https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2022-03-08-strategic-sourcing-during-volatile-times-w-jim-pratt
- Listen: https://www.spreaker.com/show/the-manufacturing-executive#episode-dbab910c-8703-40dc-8312-dca08f363f66

## Summary

Jim Pratt, Co-Founder and Managing Partner at Forsyth Advisors, discusses the current state of the supply chain crisis, noting that while the peak of shortages has passed, companies must now shore up weaknesses exposed by the demand surge. He advises manufacturers to focus on strategic sourcing, near-shoring, and automation rather than just negotiating lower prices with existing suppliers who are facing their own cost pressures. Pratt highlights specific challenges like commodity price volatility, container shortages, and the need for rapid redesigns to maintain competitiveness in volatile markets.

## Chapters

- [0:50](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2022-03-08-strategic-sourcing-during-volatile-times-w-jim-pratt#t=50) Introduction: Jim Pratt and Forsyth Advisors
- [2:36](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2022-03-08-strategic-sourcing-during-volatile-times-w-jim-pratt#t=156) Current State of the Supply Chain Crisis
- [3:39](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2022-03-08-strategic-sourcing-during-volatile-times-w-jim-pratt#t=219) Risk Mitigation and Strategic Sourcing
- [4:30](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2022-03-08-strategic-sourcing-during-volatile-times-w-jim-pratt#t=270) Cost Savings vs. Strategic Improvements
- [5:40](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2022-03-08-strategic-sourcing-during-volatile-times-w-jim-pratt#t=340) Near-Shoring and Automation Opportunities
- [6:44](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2022-03-08-strategic-sourcing-during-volatile-times-w-jim-pratt#t=404) Crisis Mode: Networking and Alternate Sourcing
- [8:51](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2022-03-08-strategic-sourcing-during-volatile-times-w-jim-pratt#t=531) Real-World Challenges: Commodities and Chip Shortages
- [12:44](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2022-03-08-strategic-sourcing-during-volatile-times-w-jim-pratt#t=764) The New Normal and Future Outlook
- [15:59](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2022-03-08-strategic-sourcing-during-volatile-times-w-jim-pratt#t=959) M&A Due Diligence and Ethical Risks

## Topics

- [Sourcing & supply chain](https://hardwarepodcasts.com/topic/sourcing-and-supply-chain)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)
- [Manufacturing partners & offshoring](https://hardwarepodcasts.com/topic/manufacturing-partners)
- [Growth, exits & acquisitions](https://hardwarepodcasts.com/topic/growth-exits-and-acquisitions)

## Most relevant to

established companies

## Mentioned

- Forsyth Advisors (company)
- GE Transportation (company)
- Alston (company)
- Harbor Group (company)
- WPI (other)
- RPI (other)
- Guerrilla 76 (company)
- LinkedIn (tool)

## Related episodes from other shows

- [123 - Supply Chain Crisis with Camille Corr Chism](https://hardwarepodcasts.com/podcast/people-of-packaging/2022-04-12-123-supply-chain-crisis-with-camille-corr-chism) (People of Packaging)
- [BONUS - EMS Thought for the Day (EMSNOW Special) #2 of 8 - Partnership Prevail](https://hardwarepodcasts.com/podcast/ems-c-level/2022-07-20-bonus-ems-thought-for-the-day-emsnow-special-2-of-8-partnership-prevail) (EMS@C-LEVEL)
- [BONUS - What's the SCOOP - 2022 Trends with Mike Konrad](https://hardwarepodcasts.com/podcast/ems-c-level/2022-01-04-bonus-whats-the-scoop-2022-trends-with-mike-konrad) (EMS@C-LEVEL)
- [Supplyframe CMO Richard Barnett on Supply Chain Data on EMS@C-Level 2023](https://hardwarepodcasts.com/podcast/ems-c-level/2023-02-13-supplyframe-cmo-richard-barnett-on-supply-chain-data-on-ems-c-level-2023) (EMS@C-LEVEL)
- [Passing Storm or New Normal? How Should We Think of Today's Electronics Supply Chain?](https://hardwarepodcasts.com/podcast/moores-lobby/2022-11-22-passing-storm-or-new-normal-how-should-we-think-of-todays-electronics-supply-cha) (Moore's Lobby)

## Citing this page

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