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Companies face mounting geopolitical risks that threaten global supply chains, from tariffs and sanctions to trade disputes and regulatory shifts. How can organizations use strategic contracting and procurement practices to navigate these uncertainties while maintaining operational resilience? This analysis examines practical approaches to mitigating compliance, cost, availability, and quality risks through risk-appropriate contract drafting and supplier management.
ISM recently published an article by Jonathan Todd, Co-Lead of Benesch’s Transportation & Logistics Practice Group, titled “Contracting for Geopolitical Risk.”
This article explores how companies can use contracts and procurement strategies to manage growing geopolitical risks affecting global supply chains, including tariffs, sanctions, trade disputes, wars and regulatory changes. It explains the different types of supply chain risks these events can create, such as compliance, cost, availability and quality issues and outlines practical steps organizations can take to mitigate them. The article also emphasizes the importance of risk-appropriate contract drafting, supplier due diligence, contingency planning, and strong supplier relationships to help businesses navigate uncertainty and maintain operational resilience.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
