As the world watches to see how the impending UK- EU relationship will be structured. We at iDDea headquarters are working hard to ensure clients are prepared regardless of the outcome. Our aim is to guide clients as they develop an action plan to mitigate the potential risks that Brexit may convey.
iDDea are currently working with Enterprise Ireland and Intertrade Ireland as their preferred Strategic Sourcing partner. Our panel of advisors are meeting with entrepreneurs, business owners and Irish multinational companies at Brexit clinics nationwide. We are also meeting with patrons on a one-to-one basis to perform a more in depth analysis of their supply-base. Our objective is to diagnose, develop and execute the most suitable sourcing solution for each organisation. We have engaged with companies across a number of different sectors however regardless of the division, it is widely acknowledged that Brexit will impact the majority of organisations, their supply chains and their profit margins.
For businesses currently importing directly or indirectly from the UK it is vital to ascertain the impact Brexit may have to your business operations, supply base, cost base and working capital necessities. To better understand where your risks are our panel of consultants begin by focusing specifically on your imports. asking questions specific to your supply base such as:
1/ What suppliers will impact the business most if they cannot supply you tomorrow?
2/ Do you know what % of your goods and services are coming directly or indirectly from the UK?
3/ Have you researched alternative non-UK suppliers?
4/ Are there contracts, licenses or regulations restricting your global sourcing strategies?
5/ Are you aware of the potential additional costs to import from Europe in terms of hubbing, logistics partners, Minimum Order Quantities plus the impact on cash flow?
Using industry recognised procurement tools and templates we categorise and segment the clients supply base and match supplier strategies against this map view of vendors. Mapping the risk and profitability of these supply items in terms of Brexit allows us to identify the most suitable buyer-supplier relationships and a set of distinct sourcing strategies
Our benchmarking expertise spans over decades and having worked with a large number of clients and vendors, we know how to leverage our market knowledge to benefit each individual client. iDDea are the Strategic Sourcing partner of choice for many public and private organisations in Ireland and Europe. We understand the challenges and care about delivering efficient and effective results for every client we work with.
If you or your business is uncertain of how it may be affected by Brexit and there are many supports available to SME’s Why not apply for one of Enterprise Ireland’s or Intertrade Ireland’s Brexit vouchers to take the first step to help you on the journey of developing your Brexit contingency plan?
Take our Brexit Sourcing Scorecard Survey to measure how prepared you are for the risks & impacts Brexit poses.