The effect of Brexit on Procurement is something that has been of wonder to the Procurement community since the announcement of the referendum. And in some ways, we are as in the dark as we were on the 23rd June when the public cast their vote. We wanted to attempt to help understand what exactly Brexit would mean for our function following the triggering of Article 50 and the parting of Britain from the EU and who better to ask than you…
The Odesma team carried out a survey amongst 40+ participants within the Procurement function to understand their readiness for Brexit. The participants were all anonymous and had responsibility for a significant amount of global spend.
- Aerospace and Defence 11.11% 11.11%
- Automotive 0% 0%
- Financial Services 7.41% 7.41%
- Healthcare 0% 0%
- IT 7.41% 7.41%
- Manufacturing 11.11% 11.11%
- Pharmaceutical 0% 0%
- Professional Services 14.81% 14.81%
- Public Sector 11.11% 11.11%
- Retail 18.52% 18.52%
- Telecoms 0% 0%
- Media 3.70% 3.70%
- Logistics 3.70% 3.70%
- Oil & Gas 0% 0%
- Third Sector 0% 0%
- Other (please Specify) 25.93% 25.93%
The Chamber of Commerce was also commissioned to compile a report entitled “What Brexit means to buying organisations“ and have shared the results via presentation at events.
There are a number of key takeaways from the report and survey and so we thought we’d explore these further, expanding on the repercussions on Brexit leaving the EU and its effect on specific areas of Procurement:
1. Risk Management
The articles will be released over the next few weeks so get involved in the discussion and share your thoughts about what Brexit means for you.
Written by Ed Cross