How Should Procurement Teams Prepare for Brexit?
Tailor Train has been helping businesses form every industry and background improve the way they operate through procurement services and business transformation services for a number of years now.
When it comes to the business landscape in the UK, one thing that has the potential to greatly impact industries and shake up the way in which organisations have to operate is Brexit.
Procurement Specialists Need to Reassess their Business Models
When article 50 is triggered and the UK leaves the EU, several different significant changes are set to occur which are set to greatly impact businesses based in the UK.
For Procurement based companies, preparation needs to begin now in order to meet the changes head on.
Start by Reviewing Your Supplier Base
The first step you need to take is to review your supplier base. Should you discard all of your EU based suppliers? Maybe not but you do need to consider the ramifications having EU suppliers can have once Brexit has been triggered.
The reality is that completely replacing all of your EU suppliers is not necessarily going to be practical or possible for that matter.
Similarly, these suppliers will not want to lose your custom and will more than likely work to make sure you remain a client.
Review the supplier information and decide on a course of action that suits your organisation. Whilst you’re doing this, you may find new suppliers with better tariffs!
Can You Help Your Critical Suppliers Set Up in the UK?
This may sound like a huge task and it might well be, but businesses are already considering helping their suppliers set up within the UK.
If they simply cannot set up a site within the UK, it may be time to set up your own internal supplier or look elsewhere.
When it comes to procurement services, there is a long list of potential measures you could put in place to help yourself and your suppliers.
Prepare for Potential disruption and Problems
No matter how hard you prepare and put measures in place to cope with Brexit and changes, you will more than likely run into some bumps along the way.
If you simply cannot afford to have disruptions to your supply chain or procurement services, it is wise to invest as much time and money as possible into preparation for Brexit.
Make sure you have a contingency plan in place should things go wrong. It may mean ordering a surplus of goods now and storing them for a while until you can find a new, cost effective supplier.
Speak to Your Procurement Services Experts – Tailor Train
When it comes to procurement services, Tailor Train are your trusted experts. We have been helping businesses from every background and industry improve the way they operate and acquire and sell goods.
Give us a call today to speak about how we can help you prepare for Brexit and together we can protect your business interests.