UK/Europe Content

After a weekend of political turmoil in both the U.K. and for European Union leaders, focus shifted Monday back to the economy and business impact of the Brexit vote. As procurement and supply chain professionals start to assess their situations and consider the short- and long-term consequences of the decision, our sister site MetalMiner has released its preliminary analysis on where metal prices could head, what the future of British steel looks like and how the backlash against immigration could affect construction and metals production.

The U.K.’s decision to leave the E.U. roiled markets Friday, pummeling the pound and sending commodities linked to economic growth into a slump. As the dust clears and businesses start to consider the long, uncertain road ahead, Spend Matters has gathered its live coverage from contributors in England to explain the top six implications for procurement and supply chain organizations. Stay tuned throughout the week for expert analysis on the impact to direct materials purchasing, sourcing and supplier management considerations and much more.

Greetings from a slightly stunned U.K., which Friday morning felt like a guest waking up with one shoe missing, a hangover and a vague sense that something bad happened at the party last night. Something very bad. Procurement folk will be scrambling already to work out what exactly the U.K. voting to leave the E.U. means, and the whole Spend Matters team will have more analysis to come.

Last week, the UK Government announced that public sector buyers should start taking into account the track record of potential suppliers in terms of tax avoidance when they make supplier selection decisions. That is perhaps not quite as dramatic as it first sounds. There has been the ability under EU procurement regulations for many years to exclude firms who have evaded tax, just as you can rule out firms who are bankrupt or whose directors have criminal records (in some cases at least). But this new announcement has pushed the issue up the agenda considerably.