In the wake of Brexit, supply chains in the UK, Europe and indeed across the world are adjusting.
For example, according to research by Barclays, many UK retailers are already reviewing their supply chains thanks to the vote to leave. A third of retailers (32%) think they will source more from the UK, while just 12% expect a decline. Over half (52%) expect to increase supply chain activity in India, while the figure is 43% for China. Consumers should expect to buy more products from Africa, although Europe looks set to lose out.
In the automotive sector, in the run up to the vote, analysts warned that there is as much as a 75% chance that Toyota and Honda will eventually pull out of the UK if they face the prospect of EU tariffs. On the other hand, Jaguar Land Rover is ‘confident despite Brexit’.
Firms in numerous other sectors will also no doubt be reassessing their logistics networks.
Source: Transport Intelligence