While many of us feel like we have whiplash from watching the recent global market volatility, citizens of the UK have had additional heartburn watching Brexit drama unfold. In fact, the recently released Deloitte Global Chief Procurement Officer Survey revealed that the uncertainty and outcomes of trade negotiations, such as Brexit and NAFTA, are a greater source of anxiety than the weakness and political volatility in emerging markets, the potential economic slowdown in China, or the impact of increasingly devastating natural disasters.
Compounding this unease is the expectation of the Wall Street Journal and many other publications that the British Parliament is expected to soundly reject Prime Minister Theresa May’s latest proposal, despite its acceptance by the EU.
As a member of the European Roundtable of Industrialists, SAP seeks to provide insights and strategies to our customers and prospective customers who will likely be affected by Brexit. We are honored to be the only software company with opportunity to offer input into the policies of the UK government.
In addition, SAP Ariba offers solutions that help companies with risk mitigation and to navigate the uncertainty that has characterized Brexit. Spend Analysis and Supplier Information Management solutions can help companies ascertain how much of their supply chain will be affected by Brexit policies. In addition, SAP Ariba recommends a checklist for procurement professionals when dealing with Brexit-related uncertainty. This checklist includes suggestions such as mapping your supply chain and reviewing your priorities for sourcing and procurement. You need to be able to react quickly to supply and demand variations and leverage relationships with smaller, more nimbler suppliers.
To bring all this together, SAP Ariba has developed a series of blog posts addressing various challenges that companies will face due to potential Brexit fall-out. Take a look at these posts and check back soon for additional insights and comments as we follow the decision on December 11 and beyond.
- Brexit: Seize The Opportunities, Manage The Risks
- Brexit: The Catalyst For Change In Digital Supply
- How To Support A Plan B For Sourcing And Contracting Post-Brexit
- Why Brexit Is Not Like Y2K In Driving Technology Change