Brexit, deal, or no deal? Keep calm and carry on…
Hafren Fasteners Brexit Strategy
In recent months, we have been working closely with the Welsh Government, to minimise risk and maximise the opportunities Brexit presents for Hafren and its loyal distributors.
With the Government’s intention for the UK to formally leave the EU on 29th March 2019, there is considerable volatility and inevitably there will be a period of economic and business uncertainty as the details of our exit from the EU are worked out.
It's all in the planning!
As the Nation holds its breath and the Brexit negotiations continue, we've reached a point where we feel it is important to share with you our plans and how Hafren has explored the following areas of business; to see what can be done during this period.
- Supply Chain
- Financial
- Customers
- Resources
Supply Chain
While we accept that not everyone will be involved in exporting, nethertheless it may be that some of your suppliers are. So, talk to your suppliers, freight and logistics companies to ensure they are prepared.
If you do export, then have you checked; e.g. that your dispatch data such as EORI numbers, item weight etc is compliant?
Check the Government advice; prepare your company for the UK leaving the EU with this tool from Gov.UK. Answer seven simple questions to get guidance relevant to your business. https://www.gov.uk/business-uk-leaving-eu
Financial
Uncertainty about Sterling. The Euro-Sterling exchange rate has been one of the most obvious effects of Brexit so far. A lower Sterling value directly impacts British importers’/exporters’ bottom lines. Hafren has built up good cash reserves with this in mind and we are closely monitoring foreign currencies.
What's the purpose? We are using these cash reserves to purchase stock over and above the current trading requirements. Meaning less currency fluctuations for you and to reduce the impact of the cost of products to customers.
Customer
At Hafren Fasteners, we have taken the time to identify our sales by geographical source and it might be something you can do too. Often, the big volumes come from very few countries in number in our experience.
Why have we done this? On your behalf, we have been working hard to minimise (as far as possible) the risk of any breakdown in supply to you and we've added extra warehouse space and invested in additional stock, in anticipation of any turbulent times through the Brexit process. Meaning you’ll be best looked after.
We will be placing customers at the centre of everything we offer.
How? We are sharing our plans to protect supplies and operations, thus this letter. Looking at customer forecasts during the Brexit period and encouraging call off orders too.
If you can give us advanced notice of larger stock orders, then we can ring fence prices and hold stock in waiting for you. In return, all we ask from you is a written commitment and we will do the rest.
Call us on 01686 621 300
Resources
With our Brexit Plan, we are offering reassurance and the best possible continuity for the supply of specialist anti-theft screws, nuts & bolts to our loyal distributors.
There is more to come from Brexit and Hafren has pledged to continue to work with suppliers, customers and business partners to ensure a smooth transitional period.
Hafren has already improved product data/paperwork to ensure that all the relevant information is ‘Brexit-Ready’ to safeguard the most expedient shipping processes.
It's an unimaginable scenario unfolding, so why wait to see what happens next?
With over twenty years of security fastener know-how, we have the skills, solutions and services to support your business.
Whilst we might all ‘hope for the best’ in the case of Brexit, Hafren Fasteners has planned for the worst to ensure our loyal customers are protected.
Brexit does not need to be chaotic. We'll continue to serve you and together we can “Stamp Out the Impact of Theft Globally.”