Brexit: The seven major risks to the continuity of your production line that you haven’t considered
Published: 1 February 2019 - Victoria White
With it estimated that 53% of all UK imports in 2017 came from the EU, UK-based manufacturing businesses should be planning right now on how to pre-empt increased costs, delays and spare parts shortages affecting production line continuity, both in the lead up to, and following, Brexit.
And yet, according to the British Chamber of Commerce, nearly two-thirds of UK companies have still not carried out a risk assessment on the impact of a ‘No Deal’ (Hard) Brexit. Consequentially, large parts of the British economy are simply not prepared to minimise impact and maintain production output levels to satisfy customer demands.
Amidst the political uncertainty, Brammer Buck & Hickman - the UK’s leading industrial supplies specialist -has conducted its own extensive Brexit survey amongst their supplier database.
From this survey, Brammer Buck & Hickman has identified seven key threats to production line continuity and stock maintenance, which have been detailed in the white paper – ‘Brexit: The Seven Major Risks To The Continuity Of Your Production Line That You Haven’t Considered’. This white paper includes devised recommendations and plans for the various logistical impacts that Brexit will bring. A key example of one such threat can be found in the supply chain, where increased complexity and cross-border duties and regulations will in turn lead to increased costs and inventory management challenges for UK businesses. The amount of work required to manage this is likely to increase significantly.
To read more on these potential threats and use the Brammer Buck & Hickman diagnostic tool to highlight areas where you can help make your business ready ahead of Brexit, visit https://www.brammerbuckandhickman.com/pdfs/brexit.pdf
Source: Industrial Compliance