Global professional services firm Alvarez & Marsal has issued a report titled 'Tariffs & Turmoil – Never Let a Good Crisis Go To Waste,' calling on retailers to act decisively in the face of global trade uncertainties. The document emphasizes a critical opportunity for businesses to refine their operational strategies ahead of upcoming tariff changes that could affect their financial performance.
Joanna Rangarajan, a Managing Director at Alvarez & Marsal and co-author of the report, points out the misleading tranquility in the market, with significant challenges expected. The study encourages a proactive stance, inspired by the resilience of companies that weathered the Covid pandemic, advocating for a strategic overhaul to fortify operations beyond temporary solutions.
Michael Prendergast, also a Managing Director and co-author, notes a worrying trend of passivity among firms, urging them to use the current crisis to achieve meaningful cost savings and operational improvements. The report identifies nine critical focus areas, such as cost reduction, innovation, pricing strategies, and supply chain optimization, to assist retailers in adapting to the unpredictable trade landscape.
The Alvarez and Marsal Consumer and Retail Group, known for tackling intricate sector challenges, provides this report as a vital tool for businesses striving to navigate the complexities of global trade policies and economic pressures.
