MIDAS BREXIT STATEMENT
Brexit Transition Period Ends 31st December 2020
With Brexit drawing to a close, it is understandable that you may have concerns and questions about part supply as we move into the New Year. We would like to take this opportunity to update you on the actions we are taking and can confirm we have begun to implement contingency plans.
At the time of writing, it is not possible for any of us to fully understand the impact of Brexit. However, as a key supplier to so many companies, it is only right that we try and prepare for such uncertainty, and where we have some level of control, take all reasonable steps to mitigate risk.
Our ultimate aim is to ensure that we can continue to manufacture polyurethane mouldings with no, or minimal disruption so we can supply finished product to you in the same manner you have become accustomed to.
The majority of our RIM mouldings are shipped to UK based customers but we do have a number of overseas customers that need to be considered, alongside raw materials that ship from Europe.
Areas of Concern
To avoid the effects of custom clearance issues, backlogs, or road blockages, we have invested in additional raw material. At the same time, we are working with our suppliers to ensure they are also holding increased buffer stocks. This combined effort should help level out any potential disruption and share the burden of cost.
For goods that originate within the EU, there is the potential for World Trade Organization (WTO) tariffs to apply and we will assess the impact of such changes once the rules become clear.
Midas has always understood the value of its people and currently employs a diverse workforce, many of which are European nationals. It is imperative that we can continue to rely on their long-term support, hard work, and loyalty throughout this period of change. To that end, we have committed to supporting them with any assistant they need so they can continue to work in the UK
Actions You Can Take
We understand, with the pressures of a global pandemic still taking hold, investing in additional stock is not ideal but we do feel it necessary. You understand your market, your business, and what impact a delay in supply would mean to you, so please review and ensure you have reasonable buffers in place.
- Schedule Orders and Suitable Leadtimes
Ensure orders are placed with at least our minimum requirement. If possible, allow for extra. The impact of COVID-19 and increased order demands has meant that our current lead time is running at nearer 8 weeks, so please do check when placing orders and update your MRP systems. Where possible, please provide increased vision and use schedule orders to help us manage our capacity to the optimum.
If you have any specific questions that relate to your project and orders or would like to discuss how best to avoid potential problems, please contact our team at email@example.com in the first instance.