Importance of Hiring Procurement Consultants in UK Post Brexit

Posted by Ankit Kohli on March 1st, 2017

The practice of hiring procurement consultants has always been recommended, especially for procurement organisations that are shifting their focus to value from cost. Procurement consultants can provide actionable intelligence on matters of supply chains, procurement categories, and suppliers. This intelligence allows organisations and chief procurement officers to plan efficiently and act proactively. Procurement intelligence should provide critical, actionable, and comprehensive information in every stage of the procurement life cycle. And with Brexit, hiring procurement consultants in the UK has become more important than ever.

Those in favour of the UK leaving the European Union claim that without the EU’s procurement rules, the UK could save £1.6 billion annually in procurement costs. However, Brexit will still have an impact on the UK’s public procurement spending.

What to Expect

Rules on EU procurement cover all aspects of public sector procurement. They define the processes, standards, and procedures to make sure that all member states have a fair chance to obtain public sector contracts in any country in the EU. These rules were formally introduced into the laws of UK through the Scottish assembly and parliamentary legislation.

Post-Brexit, the UK would have to either create its own procurement directive or continue practising the EU procedures. If the UK wants to continue trading with EU on preferential terms, then it needs to continue adhering to the procurement laws of the European Union. Altering UK legislation can become complicated and time consuming due to the several industries and public sectors that need to be consulted.

Readying Your Company for Brexit

Procurement organisations can have access to intelligence solutions by hiring seasoned consultants who can help CPOs benchmark and measure the performance of prospective suppliers, detect early warning signs that could mean risk to the supply chain, and ensure that the organisation can meet compliance requirements. Procurement consultants can help you create a set of clear procurement processes and procedures to protect your company against fraud, ensure a competitive business, and fulfil corporate governance requirements. Solid procurement procedures and processes should help you make the most of your funds while treating suppliers fairly. Without a strong procurement handbook, you run the risk of misallocating resources.

About the Author:
Pure Research Private Limited (Pure Research) provides customised research and business intelligence to leading corporates, public sector organisations, financial services firms, and professional services firms. The company specialises in providing high quality procurement and supply chain intelligence to CPOs and procurement professionals worldwide. Analysts from Pure Research work as an extension of its client’s procurement teams to deliver high quality insights on suppliers and supply markets. The company has offices in London, U.K. and New Delhi, India.