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.
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.