4. Hidden Costs

The Challenge
Hidden costs can quickly derail a project’s budget. Don't make the mistake of focusing only on the price of the product, not realizing that shipping fees, customs duties, and taxes can skyrocket the total cost.  Procurement specialists often must consider the extra costs involved with customs clearance and local import taxes.

Solution
Always calculate the total landed cost. This includes the price of the product, shipping. And on your end, taxes, tariffs, and any other potential fees. You should insist on working with someone who calculates the price from the start, who helps you understand the full cost breakdown for each order. It may seem like an extra step, but trust me, it saves a lot of headaches in the long run.

Tip: Try to get a quote from the shipping company or your customs broker in advance to factor those costs into your decision.