Posted on 2nd May 2017 at 16:59
We are all fully aware of what is happening with the pound getting battered since the Brexit referendum last summer, rebounding on the news for early general elections. But what does this mean for procurement & supplychain within your organisation?
Well, it means RISK:
Financial Risk - Price Indices on all purchases, Import/Export duties/tarrifs, hedging, currency exchange
Resource Risk - Immigration, Free movement
Compliance Risk - Legislation, Legal Jurisdiction of contracts.
Having a handle on what you spend where, who your suppliers are, implementing agility and flexibility, and above all, building robust relationships with suppliers…all this hard work will inevitably pay-off.
Understanding and prioritising where to focus based on the level of risk is important. To find out what the issues are and where they are most likely to cause a potential problem it may help to get advise.
To help, Pro Outsourcing offer a Brexit Audit for organisations to assess the areas of the business and ensure its positioned to capitalise post-Brexit.
If you are interested in learning more about the impacts to your orgainsiation please contact our office and book a Brexit Audit today.
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