More then ever before the main stream message to UK businesses would appear to be ‘prepare for a no-deal Brexit‘, with Wholesale and Distributors, along side Manufactures, being at the forefront of this advice. The FWD (Federation of Wholesale Distributors), announcing on their website earlier this month that ‘The likelihood of a no-deal Brexit is currently as high as it’s ever been. Prime Minister Boris Johnson has committed to leaving the EU on October 31st, with or without a Withdrawal Agreement.‘.
As preparations continue to ramp up in the UK, the HMRC has taken the symbolic step and started to automatically enrol all relevant traders that are VAT registered to have EORI numbers.
Economic Operator Registration and IdentificationNumber – being the unique ID code used to track and register customs information in the EU.
Key for helping UK businesses trade with the EU once we have left, the HMRC is sending letters to businesses over the coming weeks to advise of their assigned EORI number. But whilst this number is the essential first step needed to continue trading, it doesn’t resolve the wider implications Brexit is likely to have on your supply chain management.
Whilst the Financial Times, reported on the 2nd August, that the majority of FTSE organisations have plans in place, no-doubt related to their fiscal position, many SMB’s are unprepared simply because they don’t have the resources, fiscal or otherwise, to work out all the scenarios of what could happen. Many simply having to continue as normal until the outcome is known and then try to adapt.
Delivering certainty to your SMB business
With such changes on the horizon, as a wholesaler or distribution the future is uncertain, the environment is as best fluid, if not challenging – so how can you bring some business stability when all-around you’re faced with such volatility?
Many businesses are turning to technology to help. Through Business Software (ERP and CRM) you can gain a better understanding of your business, your supply chain and electronic data interchange (EDI), and customer and vendor demands, so that you can make the sorts of strategic business decisions that will help you to reduce costs, predict stock-levels, be more efficient, whilst delivering outstanding customer service.
As an unrivalled software solution for warehousing, transportation, logistics and customer service – Microsoft Dynamics 365 Business Central has been designed to increase revenue and profit, giving you tighter control on all aspects of distribution and helping you to improve your margins.
End-to-end visibility – complete knowledge of stock levels, delivery times and order requirements.
Import/Export – multi-currency functionality and landed cost tracking allow for accuracy when buying or selling your products abroad.
Inventory insight – gain insight into customer purchase analysis, alternate vendor options, and all product costs.
Streamlined & automated processes – improve service and delivery times with a slicker order process in one system.
Improved customer & supplier relationships – faster responses to customer queries and suppliers.
Real-time information across all departments – give the right people the right information when they need it.
To understand how Microsoft Dynamics 365 Business Central can help your business, download our industry guide.
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