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In this episode, Jim delves deep into the impacts of tariffs, the necessity of dynamic supply chains, and the concept of "re-globalization." We'll discuss critical strategies for adapting business supply chains amid global shifts, the importance of customer satisfaction over profit margins, and how companies can build strong, resilient systems to ensure sustainability and profitability. Jim will also share his expert views on the importance of diversified procurement and the risks of single sourcing. Whether you're an early adopter or a fast follower, there's plenty of actionable advice here to help you build a business that stands the test of time and captures the interest of potential buyers. 0:00 Intro 0:57 Jim Tompkins Intro 5:23 What is reglobalization? 8:22 Planning for the Future 12:58 Procurement vs Rethinking your Whole Business 14:56 Consequences of inaction 17:26 Early Adapter vs Fast Follower 22:21 Lowest Cost vs Optionality 28:09 Know your Points of Failure 31:21 Business Moats