With a huge amount of uncertainty in the market and many companies and individuals wondering what the market is going to look like post Brexit, planning ahead and preparing for what might happen is now one of the most challenging tasks for retailers. Businesses will need to understand the impact on their supply chain and ensure they have the flexibility to deal with the sudden or unexpected changes that are likely to occur.
Global Logistics Manager, Paul Bambrough-Smith has been with CML for twenty-four years and during his time in the business has been involved in many areas. His specialities include supply chain management, expediting, import and export accounting, customs compliance, bonded warehousing, Letters of Credit, providing training in customs management and consulting. His in-depth knowledge across these areas is a real asset to the business and also provides a unique opportunity for CML’s customers, who are able to take advantage of this.
To help retailers gainan idea of how to stay one step ahead of the game during this time of uncertainty, Paul discusses the ways retailers should use this as a catalyst to explore the opportunities that are available to their business, and advises on how they should capitalise on them.
With potential customs and tax increases on the horizon, plus a
soaring exchange rate, this is the perfect time for retailers to be
looking into where savings could be made.
Businesses have become
used to the ease in which they have been able to move goods around
Europe and this has lead to a focus on areas such as imports, exports
and internal aspects such as merchandising and production. However, as
Brexit approaches, companies will need to begin to delve deeper into the
areas which may have been overlooked to help cut costs and ensure there
are no hidden expenses which may arise once Brexit comes into play.
starting point for this should be a thorough end to end supply chain
audit. This will allow your business to prioritise and analyse any
risks, as well as see where extra savings could be made. This should
also include a review of all current contracts, taking into account any
deals which are imminent so that a ‘plan B’ can be drawn up should
Brexit have a major financial impact on these relationships.