June 24, 2022

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As Government admits ‘significant challenges’ to UK stock levels, is reshoring the answer?

2 min read

A new Government report, from the Office for National Statistics (ONS), has revealed the full extent of tumbling stock levels and broken global supply chains.

‘Stock and Supply Chain issues in the UK’ looks at the impact of Brexit, Covid, the blockage of the Suez Canal and other problems.

The international delivery expert ParcelHero says that the report reveals the full extent of manufacturing and retail problems. ParcelHero argues that manufacturers, retailers and their delivery and logistics partners will need to plan for a growth in reshoring (returning manufacturing back to the UK) as global supply chains break apart.

ParcelHero’s Head of Consumer Research, David Jinks M.I.L.T., says: ‘This week’s ONS report has laid bare the problems manufacturers and retailers had in maintaining stock levels during Brexit and the pandemic and reveals that they are continuing to experience difficulties.

‘The report admits that: “Over recent years, the EU exit, coronavirus (COVID-19) pandemic, higher energy and commodity prices, and events such as the blockage of the Suez Canal have presented businesses with significant challenges when acquiring and maintaining their stock. As a result of these challenges, the UK has experienced increased business uncertainty, supply chain issues across a variety of materials and products arising from worldwide shortages, and rising inflation.”

‘The report surely undermines the extraordinary claim by Jacob Rees-Mogg, Brexit Opportunities Minister, that Brexit is “already a success”, has been “extremely beneficial for the country” and that “the evidence that Brexit has caused trade drops is few and far between”.

‘In compiling their report, the ONS received comments from businesses across a variety of sectors, including manufacturing, construction and retail.

‘In particular, companies complained that they had built up stocks for the first Brexit date (29 March, 2019), that was then abandoned. The report also…

Business Matters

2022-04-05 07:15:52

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