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Are you ready for Brexit? Prestige Purchasing can help your business through Brexit, regardless of what is in store for supply chain

Countdown to Brexit. Based on data from Sky news.

Current goings on in Brexit

Deal agreed with the EU, but rejected overwhelmingly by MPs

The UK and EU agreed on the text of an exit agreement, then failed by the largest margin in history to get the deal approved by MPs, surviving a vote of no-confidence the following day. The PM is now seeking multi-party talks seeking some common ground, but with less than 70 days to go until the current Brexit Day time is running out. A cross-party group of MPs has raised a motion that (if approved) will oblige the government to postpone Brexit rather than crash out with no-deal. Others are campaigning for a second referendum to break the parliamentary deadlock. Meanwhile, the Labour Party’s official line is still to try to force a general election with the same objective. Lots of politics, but still no outcomes. In currency markets sterling has gained marginally in the past week though markets will of course remain jittery for the foreseeable future. The prospect of a “no deal” Brexit appears to be diminishing a little, which is a good thing as it would drive food inflation up again strongly in 2019. So more “watch this space” for now…..

8 things we can help you do before Brexit

1. Review supply chain completely

We help you understand what you spend, what products you buy, where they come from, and who your suppliers are. Prestige Purchasing can help you build even stronger relationships with them, and understand the challenges that Brexit may bring for them, in order to be agile and flexible.

2. Assess potential impacts

Helping you recognise the impacts that Brexit may have on each area of your business.

3. Examine supplier agreements

We help you look carefully at the length of your contracts and the consequences of break clauses. If appropriate we can assist with a review of currency hedging and multi-sourcing. Prestige Purchasing can help you examine future commercial strategy in the light of possible Brexit scenarios.

4. Create a risk log

We help you understand and prioritise based upon the likelihood and impact of risks, and make an initial assessment of how you will mitigate the impacts if the risk materialises. We research Brexit based issues such as potential impacts upon availability/cost/quality, staying in touch with developments and updating plans accordingly.

5. Calculate key exposures

Prestige purchasing can help you understand your key exposures and calculate risk within your supply chain.

6. Communicate

Brexit impacts will not just impact supply chain. We help you build cross-functional teams to monitor the situation and include risk management colleagues, compliance, financial, legal, operational, sales and marketing teams.

7. Collaborate

We help you develop a list of credible sources and arm yourself with data and timely, regular information. Keep stakeholders regularly informed, remaining clear and transparent about the implications.

8. Workshops

Prestige are here to help and support you through the Brexit process.

We run workshops for a number of clients to help them map their process, and prepare for Brexit.

If you would like support in guiding your business through Brexit, please get in touch via the form below.

In other Brexit news...

Preparing for Brexit


Watch our video on how Brexit will affect the Foodservice and Hospitality sector, or “8 things to do before Brexit” list below.

Prestige Purchasing on Vimeo.

Brexit Support Services

Are you ready for Brexit? Prestige Purchasing can help your business through Brexit, regardless of what is in store for supply chain.

Prestige Purchasing provide a portfolio of services designed for both large and small businesses, individually tailored to fully support your team in adding value through your supply chain providing the resource, skills and flexibility required to get the job done.

Enquire now to see how we can help

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