by Ekrem Duman | Aug 5, 2026 | Procurement
⚡ TL;DROn July 20, 2026, the Trump administration invoked Section 338 of the Tariff Act of 1930 for the first time in modern history, imposing an additional 50% duty on select Canadian-origin goods — dairy, alcoholic beverages, motor vehicles, industrial materials,...
by Ekrem Duman | Aug 4, 2026 | Procurement
Sourcing Diversification in 2026: Inside Procurement’s Playbook for Tariff Risk Sourcing diversification has moved from a defensive tactic to the central strategy on every procurement leader’s desk in 2026. Tariff volatility, cocoa and commodity price...
by Ekrem Duman | Aug 1, 2026 | Contract Negotiation, Cost Reduction, Procurement, Vendor Management
⚡ TL;DRA LETTER OF CREDIT is a conditional bank undertaking that pays against a complying presentation under its terms and applicable rules. Procurement should design the credit around the purchase contract, feasible documents, shipment and presentation dates,...
by Ekrem Duman | Aug 1, 2026 | Contract Negotiation, Cost Reduction, Procurement, Vendor Management
⚡ TL;DRA BENEFICIARY is the party entitled to receive a payment, benefit or undertaking under an instrument such as a letter of credit, guarantee or insurance arrangement. Procurement must verify the legal identity, bank route, contract entitlement, sanctions status...
by Ekrem Duman | Aug 1, 2026 | Cost Reduction, Procurement, Supply Chain
⚡ TL;DRAPPRAISEMENT is the process of determining or reviewing customs value. The SSDER term APPRAISER’S STORES points to goods or samples held under an appraiser or customs examination process; local authority rules control the exact facility and custody....
by Ekrem Duman | Aug 1, 2026 | Procurement, Supply Chain, Vendor Management
⚡ TL;DRA BARCODE is a machine-readable carrier for an identifier or data element; it is not automatically a complete traceability system. Procurement should specify the identifier owner, symbology, data fields, packaging level, print quality, scan events, supplier...
