{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"035: Better Supply Chains with Better Contracts","description":"Do you remember the toilet paper panic buying scenario during the onset of the pandemic?  Since the beginning of the pandemic, supply chains have been making headlines. The supply chain struggles have affected most of us in one way or another. And if you\u2019re following up on what\u2019s going on with the baby formula shortage right now, it\u2019s an undeniable fact that supply chains significantly impact our society and economy.  Supply chain strains are caused by various factors, from shutdowns and the rising cost of production, to trucker issues, warehouse, and worker shortages, reduced inventories, inflation, and a whole lot more.  From a business standpoint, this could become a major problem over time \u2013 and contracts play a huge role in improving your supply chains while reducing the risks involved. In this episode, we discuss how you, as a business, can better your supply chains with better contracts. We also outline other things to consider when renegotiating your supplier contracts, which is especially relevant in this post-pandemic world.  Finally, we can\u2019t stress enough the importance of having transparent communication about your supply chain issues with your potential purchasers. Transparency helps you meet your compliance obligations. It also better manages your consumer expectations thereby maintaining trust, protecting your brand, and reducing complaints or negative reviews. In this episode, you will hear: Why transparent communication with consumers important Ways to improve your supply chains Benefits of supplier diversity How to diversify your portfolio contract Ways to reduce the risk of forced labor Key factors for success in reshoring lines Clauses to include when you're renegotiating your contract Considerations when you have a direct-to-consumer delivery model Subscribe and Review Have you subscribed to our podcast? We\u2019d love for you to subscribe if you haven\u2019t yet. Each week, we share authentic discussions with business leaders where they flesh out substantive issues while also getting deeper into their stories. We\u2019ll dive into conversations on the fusion of business and humanity, success and authenticity, and the challenges of balancing life and work, in addition to regularly sharing legal updates and substantive content. We\u2019d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select \u201cRatings and Reviews\u201d and \u201cWrite a Review\u201d then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.  Supporting Resources: https:\/\/cgl-llp.com\/ Email: hannah@cgl-llp.com  Episode Credits Script drafted with help from Obiter Marketing If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https:\/\/emeraldcitypro.com. ","author_name":"Conversations with CGL: Professional Insights and Personal Journeys","author_url":"https:\/\/www.cgl-llp.com\/","html":"