Organisations in the UK are a bit jittery as the country is, in all likelihood, heading towards a no-deal Brexit. It has left many floundering, wondering what will happen to procurement and supply chain and how will the professionals handle it.
There could, however, be a silver lining for procurement professionals, thanks to Brexit.
The Brexit impact
The ambiguity and uncertainty created by Brexit may have a positive effect on procurement recruitment. In all probability, organisations will hire more procurement professionals to manage the increased workload and challenges that Brexit will throw their way. Once the UK formally leaves the EU, supply chains will get more complex and will require proper planning, especially for supply chains originating in the EU.
There will be an effect on the prices and costs of procuring and sourcing products and raw materials. Therefore, procurement professionals will have to renegotiate existing contracts to keep costs down. Companies will be looking for procurement specialists who have exceptional negotiation skills that will allow them to get the best deal for the company without sacrificing quality.
Looking beyond Europe
Procurement will take a second look at their category strategies and look for suppliers and vendors outside the EU. They will look for new suppliers using analytics and prioritisation models to take stock of their category strategies and hence, organisations will be seeking new procurement professionals who are well-versed in the necessary technologies and ability to find alternative sources for procurement within the UK and outside the European Union.
The final words
While the UK Government has said that procurement regulations after Brexit will stay more or less the same as they are now, those looking to switch to procurement should familiarise themselves with the existing regulations and compliance issues. In addition, they should also understand risk management to avert any problems in the supply chains. This will enhance their chances of finding a good procurement job in an organisation of their choice.