How Will Brexit Affect Procurement And Supply In Ireland?

 

The news of Brexit came as a great shock to many people. There is no denying the fact that Great Britain decision to leave the EU will have a huge impact on trade relations between the UK and European countries. It will also affect Ireland’s trade relationship with the UK. But in what ways?

When the question was put to CIPS the following response was given

““At this early stage we are unable to tell the true impact of Brexit on the Procurement & Supply profession as well as the knock-on effect to legislation such as the EU Procurement Directives.

As a global organisation we are supportive of global trade. Our members are based in over 150 countries and we work with corporates and governments from all round the world to ensure the Procurement profession has a positive impact on the global economic, social and environmental agenda.   

Over the coming months and years as the landscape becomes clearer and we all establish a way ahead, we will continue to support our global community.”

There is no denying the fact that Irish companies who have trade relations with the UK will now have to review and access their current operations and supply chain networks.

The initial tangible result for Ireland was recognising the initial drop in the value of sterling. This lead to some sudden short term opportunities for procuring certain goods and services from the UK.

 

In a recent Irish Times article John Fitzgerald spoke about the fact that every busy shopping street in Ireland contains large UK based retail units such as Marks And Spencer and Tesco. “They have brought variety and competition to the Irish Retail Centre, driving down prices.”

 

He speaks about the way Brexit will mean that Ireland will have to most likely implement EU custom controls on all good coming from the UK. Currently these large UK based supermarket containers can deliver large containers of produce daily to Ireland without any great stress. Brexit could lead to a much more comprehensive process and a situation where individual items will have to be assessed for duty owed. The result of this could be a “major increase in prices that this new regime could entail”.

 

At CMI we employ Procurement and Supply Chain Lecturers who have the most up to date industry knowledge as well as training qualifications. Our courses will continue to reflect the current industry and all information will be current and helpful to those who wish to move in to or progress within the supply chain industry in Ireland.