At Mykon we are doing all we can to mitigate any potential risks which may arise surrounding Brexit. The UK’s regrettable decision to leave the European Union (Brexit) means that we must meet the challenges that this decision will bring. In order to ensure business continuity during this period we have put into effect several strategies with the aim of making the transition away from EU membership as seamless as possible for both Mykon and our valued business partners.
We are working with our customers and supply chain partners to prepare and we are developing our contingency plan to ensure supply continuity and avoid delays at borders. This will include warehouse facilities within the EU which we will stock before the end of the year. To ensure continued effective operation of our manufacturing sites, we are also developing a detailed plan for building an appropriate level of critical raw material stocks at each of our sites to provide further assurance of continued supply to our customers.
As there is still uncertainty regarding Brexit our plans allow for a large degree of flexibility. We have considered the potential impact of changes to Customs borders, tariffs, costs and administrative workload, as well as the likelihood of exchange rate volatility. We continue to research the implications of potential tariff and duty changes as well as possible increased lead times. We have undertaken a review of our supply chain to mitigate the impact of any major changes following Brexit and accept that policies and processes may require amendment in due course.
As a supplier to and purchaser from many Non-EU countries around the world, Mykon is well versed with the demands of international trade. We have every confidence in the skill and expertise of our team and their understanding of import and export procedures to be able to cope with and adapt swiftly to any changes necessitated by Brexit. Additionally, we widely employ the services of forwarders and agents who have “Approved Economic Operator” status.
Mykon will continue to closely monitor all updates from HMRC (Her Majesty’s Revenue & Customs) and have undertaken additional Customs training to enable us to deal with the re-introduction of Customs declarations on goods moving between the UK and the EU. By undertaking these actions Mykon anticipates protecting customer service levels as we navigate through the first weeks and months of Brexit.
We understand that individual concerns and priorities may differ depending on the nature of the business, albeit that most interest clearly lies in the impact of product availability, lead-time and cost implications. We would encourage open dialogue and information exchange with your usual contact who will be happy to investigate and act upon any specific query or information request.