Brexit: Supply Chain Risk or Opportunity?
The surprising outcome of the 2016 referendum on European Union (EU) Membership for the United Kingdom (UK) has led to a complex process of withdrawal that is estimated to take two years. This vote to leave the EU will cause political and economic changes and impact free trade agreements, regulatory frameworks, workforce availability, currencies, and investments. These effects must be evaluated by any company doing business in the UK.
Does Brexit represent a supply chain risk to be mitigated, or a supply chain opportunity to be exploited? No doubt companies whose supply chains flow through the UK may be affected, but fortunately and, unlike most supply chain disruptions, we have the better part of two years to plan for this change. Some of the questions to be answered include: