Cranfield University’s Professor Richard Wilding OBE, has warned UK manufacturers of the risks to the extended supply chain caused by stockpiling raw materials ahead of Brexit.
Writing in City AM, Professor Wilding, Professor of Supply Chain Strategy at Cranfield University, likens the panic being demonstrated by manufacturers and consumers to that displayed in the face of the ‘Millennium Bug’ at the turn of the century.
He warns: “While it might look like a sensible response to uncertainty, this kind of Brexit anxiety will have long-term implications for supply chains and for the UK economy as a whole.
“Organisations and individuals need to look at stockpiling with their eyes wide open. We need more conversations across supply chains to help increase certainty and trust, to determine what’s necessary and what’s overreaction.
“Otherwise stockpiling could be a bigger problem for Britain that even the most chaotic Brexit.”