Brexit — a challenge or an opportunity for CPOs?

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Spend Matters welcomes this guest post from Philip Woode, Principal at Efficio Consulting.

Britain leaving the EU brought about the biggest change in the UK’s trading relationships for decades. While Brexit appears to be the main factor for some disruptions, global supply chain problems resulting from the pandemic and the impact on trade in general from Covid are also being cited. Amidst the ongoing chaos caused by events in 2020, it has become apparent that rather than a single event, Brexit will see businesses face a series of smaller obstacles that are yet to be fully realized.

With so many moving parts, do you have the ability to change your strategy and react quickly? Supply chains were certainly stress-tested in the lead up to Brexit, and this uncovered procurement weaknesses and inefficiencies that were already in existence. Constant change requires a more joined-up business and the ability to adapt quickly. So, when faced with an unavoidable catalyst for change, like Brexit, does that change represent more of a challenge or an opportunity for the CPO? Efficio discusses.

Afternoon Coffee: US trade deficit indicates economic upswing; Fairmarkit adds RFP feature; Europe’s Sidetrade buys US order-to-cash player Amalto

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See what the latest trade deficit news means for the recovering US economy. Also, tail-spend specialist Fairmarkit adds to its sourcing prowess with an RFP feature. And acquisition news includes order-to-cash players Sidetrade and Amalto. Afternoon Coffee brings you the latest news about procurement and supply chains.

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