Devising Strategies to Address Procurement Risks in the Wake of Brexit – SpendEdge’s Latest Resource Reveals it all!
LONDON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/BrexitRisks?src=hash” target=”_blank”gt;#BrexitRiskslt;/agt;–SpendEdge, a leading provider of procurement market intelligence
solutions, has announced the completion of their free downloadable
resource on holistic
plans to address procurement risks in the wake of Brexit. The
free resource provides key insights into the procurement risks faced by
companies having significant operations or sales in the UK. In the
article, our experts highlight the approach companies should follow to
mitigate procurement risks associated with Brexit.
Changes occurring in the global trading rules due to negotiations
between the UK government and the European Union are impacting the
procurement process of companies. Trade agreements are becoming
increasingly complex and procurement risks are rising at an alarming
rate. Adding to the woes is that fact that the financial plans of
companies are proving to be inefficient, and the period of uncertainty
is likely to be prolonged.
Formulating strategies that can mitigate procurement risks arising
due to Brexit is crucial for companies to gain competitive advantage. Request
a free demo to know how our experts can help you develop an
effective procurement strategy.
Key procurement risks arising due to Brexit
Exchange rates
The declining value of GBP against USD is impacting companies, directly
or indirectly. They are facing challenges in preparing themselves amidst
the rising uncertainty as the types of deals UK government might secure
are still obscured. This is resulting in high import costs and making
supply chains more expensive impacting the movement of goods.
To know how companies can address this situation, download
the complete article here.
Contract negotiations
Companies are finding alternative ways of securing contract agreements
that can provide them the flexibility to address currency fluctuations.
They are figuring out clauses that can allow them to renegotiate prices
while responding to Brexit.
Identifying clauses that can address friction arising between the UK
and the EU trading partners is a herculean task. Request
a free proposal to gain more insights into our service
portfolio of procurement market intelligence solutions.
Compliance risk
The changing economic dynamics is impacting different areas of trade.
This is necessitating companies to explore new trade routes that can
reduce the cost and time required for procurement. In addition, they
need strategies that can comply with multiple regulatory systems while
procuring goods and services.
To gain detailed insights into the strategies that can be adopted by
companies in identifying and mitigating Brexit risks, download
the full article here.
About SpendEdge:
SpendEdge
shares your passion for driving sourcing and procurement excellence. We
are the preferred procurement market intelligence partner for 120+
Fortune 500 firms and other leading companies across numerous
industries. Our strength lies in delivering robust, real-time
procurement market intelligence reports and solutions.
Request free proposal to know more, https://www.spendedge.com/request-free-proposal
Contacts
SpendEdge
Anirban Choudhury
Marketing Manager
US: +1 630
984 7340
UK: +44 148 459 9299
https://www.spendedge.com/contact-us