Executive Briefings

Seven Things You Should Be Doing About Brexit

A seven-point checklist has been produced by the Chartered Institute of Procurement and Supply to help procurement professionals prepare for Brexit.

In a report CIPS sets out how auditing supply chains, reviewing contracts and reassuring stakeholders should be among the things buyers are doing to deal with the uncertainty generated by the vote to leave.

The U.K. government has published a series of position papers covering issues such as the customs union, suggesting a continuing ‘frictionless’ flow of goods across the border, though in the report CIPS economist John Glen said he was predicting a ‘hard’ Brexit.

“What I would need to see from a new Conservative government, in order to change my view of the likely outcome of Brexit negotiations, would be a compelling narrative as to why the EU should agree to a soft Brexit. As yet, I do not see why the EU should agree to that,” he said. “And I am not aware that this compelling narrative exists with May’s Brexit negotiations strategy and if it does exist, has not been shared with the U.K. voters or the EU negotiators. Yet.”

The report includes the results of a survey of supply chain managers that found 32 percent of U.K. firms who work with suppliers on the continent are looking for alternative suppliers based in the U.K.

The checklist:

1. Audit your supply chain from end to end

Understand what you spend, who your suppliers are and build strong relationships with them in order to be agile and flexible.

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In a report CIPS sets out how auditing supply chains, reviewing contracts and reassuring stakeholders should be among the things buyers are doing to deal with the uncertainty generated by the vote to leave.

The U.K. government has published a series of position papers covering issues such as the customs union, suggesting a continuing ‘frictionless’ flow of goods across the border, though in the report CIPS economist John Glen said he was predicting a ‘hard’ Brexit.

“What I would need to see from a new Conservative government, in order to change my view of the likely outcome of Brexit negotiations, would be a compelling narrative as to why the EU should agree to a soft Brexit. As yet, I do not see why the EU should agree to that,” he said. “And I am not aware that this compelling narrative exists with May’s Brexit negotiations strategy and if it does exist, has not been shared with the U.K. voters or the EU negotiators. Yet.”

The report includes the results of a survey of supply chain managers that found 32 percent of U.K. firms who work with suppliers on the continent are looking for alternative suppliers based in the U.K.

The checklist:

1. Audit your supply chain from end to end

Understand what you spend, who your suppliers are and build strong relationships with them in order to be agile and flexible.

Read Full Article