Our site uses cookies

I agree Our site saves small pieces of text information, called “cookies” on your device. Find out more in our cookie policy. You can disable the usage of cookies by changing the settings of your browser. By continuing to browse the site you are agreeing to our use of cookies.

Brexit: How do you deal with currency volatility?

In an article originally published in Supply Management, Sushank Agarwal and Ben Lambert of Efficio discuss how Brexit-related currency fluctuations are making supply chains more expensive.

Ben says:

You need to have a better understanding of the currency situation … No buyer wants clauses around changing prices.

Instead, he suggests having a ‘dead band’ around currencies in contracts.

Sushank adds that collaborative discussions with suppliers are key. It is easy to tell suppliers that you don’t want to be overpaying for their products, but nor do you want to cause them financial hardship. Instead he suggests finding a way that you can “share the risk”.

To read the full article click here.

Contact our expert

Sushank Agarwal Principal

Achieving the five-year digital transformation vision
Insight
Achieving the five-year digital transformation vision

If strategic suppliers are to play an increasingly important role, selecting these partners through high-quality strategic sourcing processes will be critical.

Getting back on track: transforming the supply chain at a major rolling stock manufacturer
Case Study
Getting back on track: transforming the supply chain at a major rolling stock manufacturer

A major rolling stock manufacturer had recently opened a greenfield manufacturing facility in Northern England, a major success for the industry, region and manufacturer.

CFOs’ role mitigating procurement risk in a challenging global trade environment
Insight
CFOs’ role mitigating procurement risk in a challenging global trade environment

Business supply chains are under increasing threat from the current global geopolitical situation. CFOs are ideally positioned to foster dialogue with procurement and the wider business to mitigate risk and protect long-term profitability.

How to win buy-in for supplier relationship management
Insight
How to win buy-in for supplier relationship management

Efficio’s SRM methodology is proven across sectors and tailored to your individual requirements and priorities.