As you are aware, the UK Government is seeking support from its EU counterparts in a last-ditch attempt to secure a deal through Parliament. Most commentators think this will fail, meaning that there is now a high probability that the UK is heading for a No-Deal Brexit. Given this risk, it is imperative that Procurement functions prepare as best they can for a prolonged period of uncertainty and supply chain disruption.
As procurement and supply chain specialists, Buying Support Agency Ltd has audited countless clients’ procurement functions across many industry sectors since 2002. Yet worryingly, recent surveys show that, for the majority of UK businesses, there has been limited risk planning for a No-Deal Brexit. Even for those businesses that are preparing supply chain risk assessments, lack of internal resource means that only the most immediate (‘tier 1’) suppliers are likely to be included. This may give a false picture of the total risks – particularly if UK or non-EU based tier 1 suppliers are being reviewed.
Brexit is only one of several growing risks where exposure could bring severe economic and reputational damage, however. Other risks include cyber security, GDPR, financial risks and the need for extended legal compliance around stricter anti-slavery and anti-bribery legislation.
Buying Support Agency Ltd offers a solution to this challenge: We can provide independent, expert resources to provide detailed risk planning across a thorough breadth and depth of the entire Supply Chain using our tested approach and methodology. Our output provides our clients with a much clearer understanding of risk exposure through their extended supply chains.
In a world of change, the potential consequences of inadequate risk management are severe. For a no-obligation discussion, please call us on 01242 506970 today.
by Matt Roper | 13 December 2018