Brexit - 28%of UK retailers considering sourcing from different countries

| 0 Comments

 

Brexit_.jpgAlmost a third of UK retailers are considering changing suppliers and 28% are thinking about sourcing from different countries following Brexit, according to a report.

A survey carried out by Barclays found that firms predict they will be sourcing more from Africa (38%), while 45% expect a drop in how much they buy from Europe. Just over 13% said they would be moving manufacturing capacity to different geographies.

Some 32% expect to source more from the UK as result of the referendum, while more than a half expect to source more from India and 43% anticipate buying more from China.

Furthermore, half of retailers did not feel prepared for Brexit and 44% anticipated a negative effect on their supply chain. However, 41% expected Brexit to have “no real effect”.

Some 59% expected the costs of supply chain management to remain the same or increase slightly, while 15% thought Brexit would bring down costs. In compiling the report Barclays surveyed 100 senior B2B executives prior to the referendum and 68 retail executives post Brexit.

“Getting your supply chain strategy right can be the key to success for retailers. Itis a mixed picture, but there are some encouraging findings in our post-Brexit survey,” says Ian Gilmartin, head of retail and wholesale at Barclays.

“Retailers are not overly pessimistic about the affect of the vote on their supply chains, and yet they are still thinking carefully about what they need to do now, in particular regarding which regions they source from and their foreign exchange strategy.”

More than two-thirds of respondents believed Brexit would have a negative effect on import costs and a similar proportion were concerned about finding adequate labour for supply chain operations.

Some 31% said they planned to increase product prices, but more than three quarters planned to streamline supply chains and more than half expected to absorb cost increases themselves.

“It’s also reassuring to note that most retailers do not intend to pass on costs to their customers and will instead look for other ways to tackle supply chain issues, said Gilmartin.

Adapted from an article in SupplyManagement
 

Leave a comment


SmartProcurement Newsletter
X

Please enter your details below to receive the SmartProcurement Newsletter for FREE on a regular basis.

As part of the SmartProcurement Newsletter you will be receiving World Class Procurement News, Tools, Tips, Tactics, Procurement Training updates, Upcoming Events, and the latest Procurement Career Openings.

* Email Address:
* Title:
* First Name:
* Surname:
* Company:
  Position:
* Country:
* Public / Private:

 

 

Career opportunites

Supply Chain Analyst

  • <500 000 Analyst Permanent Supply Chain Western Cape
R400 000 - R500 000 per annum.Location: Cape ...More

Commodity Manager

  • <500 000 Commodities Gauteng Permanent Procurement Consultant
R650 000 - R750 000 per annumLocation: Cape ...More

Logistics Manager

  • <500 000 Gauteng Logistics & Warehousing Operations, Planning & Inventory Permanent
Salary: R 800 000 - R 900 000 ...More

Demand Planner

  • <500 000 Gauteng Operations, Planning & Inventory Permanent Projects / Category Management
Salary: R 600 000 - R 650 000 ...More

Supply Chain Analyst

  • <500 000 Analyst Gauteng Permanent Supply Chain
R600 000 - R700 000 per annum Location: ...More

Commodity Manager

  • <500 000 Commodities Gauteng Permanent Procurement Management
R850 000 - R1 000 000 per annumLocation: ...More

Commodity Manager

  • <500 000 Commodities Permanent Procurement Management Western Cape
R700 000 - R850 000 per annum,Location: Western ...More

National Supply Chain Manager

  • <500 000 Across borders Permanent Procurement Management Supply Chain
R750 000 - R1 000 000 per annum,Location: ...More

Industrial Engineer

  • <500 000 >500 000 Industrial Engineer Operations, Planning & Inventory Permanent Western Cape
R450 000- R500 000 CTC per annum,Location: Western ...More

Commodity Manager

  • <500 000 Commodities Gauteng Permanent Procurement Management
Category: Procurement,Salary: R700 000 - R800 000 per ...More

Supply Chain Manager

  • <500 000 Gauteng Permanent Procurement Management Supply Chain
Category: Consulting,Salary: R750 000 - R800 000 CTC ...More

Logistics Manager

  • <500 000 Across borders Logistics & Warehousing Permanent Procurement Management
Category: Logistics,Salary: R900 000 - R1 000 000 ...More

Demand Planner

  • <500 000 Gauteng Operations, Planning & Inventory Permanent Projects / Category Management
Area of Specialisation: Planning,Salary: R500 000 - R650 ...More

Industrial Engineer

  • <500 000 Analyst Gauteng Industrial Engineer Permanent
R800 000 - R850 000 CTC per annum.Location: ...More

Security Manager

  • <500 000 Analyst Gauteng Permanent Procurement Officer / Specialist
(Total Cost to Company R350K - R550K).This is ...More

Operations Manager

  • <500 000 Gauteng Operations, Planning & Inventory Permanent Projects / Category Management
(Total Cost to Company R650k - R750k) excluding

Commodity Manager Raw Materials

  • <500 000 Commodities Gauteng Permanent Strategic Sourcing
(Total Cost to Company R980k - R800k) excluding ...More

Commodity Manager Logistics

  • <500 000 Commodities Gauteng Logistics & Warehousing Permanent
(Total Cost to Company R1mil - R900k).Industry: Engineering

Procurement Consultant

  • <500 000 Gauteng Permanent Procurement Consultant Procurement Management
(Total Cost To Company 550K - 450K) includes ...More

Commodity Manager MRO &CAPEX

  • <500 000 Commodities Gauteng Permanent Projects / Category Management
(Total Cost To Company 900k - 750k) includes ...More