Following the recent Brexit agreement, VOW Wholesale approached the end of the transition agreement in a strong position to be able to successfully navigate the challenges of Brexit. Below is a summary of our current UK position:
- Importer: as a regular importer from non-EU countries we have agreements and processes to manage change from EU Countries.
- Presence on the Island of Ireland: logistical and financial infrastructures in ROI and NI mean we are able to adapt quickly and still provide a full solution to customers in the UK and Ireland.
- Base Data: Extensive existing system data gave us a solid starting point to review and create the new 10 digit import tariff codes that are required.
- Existing Relationships: VOW Wholesale has strong working relationships with relevant parties (HMRC, freight forwarders, suppliers) which has meant that we have access to required information, shared knowledge and can implement agreements quickly.
- Knowledge: The wealth of knowledge across different departments within VOW Wholesale (Finance, Inventory, Purchasing, Operations) has meant we have consistently been in front of issues and have played and will continue to play a role in educating parts of the industry to find resolutions.
- Stocking: As previously communicated the merchandising teams worked hard to identify any at risk lines and we had invested in an additional £5m of stock of these lines by the end of 2020.
- Cost Increases: As the UK’s largest Business Supplies Wholesaler, VOW Wholesale will continue to leverage our purchasing power as much as possible, to secure the best possible prices. Nonetheless, it is possible that VOW Wholesale will be forced to take significant cost increases as a result of Brexit, that are wholly beyond our control and that we cannot avoid or absorb, these may result in price increases having to be applied with short notice.
- Staff Shortages: VOW Wholesale employs some EU citizens within its operations. The large majority of them now hold permanent positions to reduce staffing risks.
VOW Wholesale continue to be committed to communicating all issues that arise to its customers as soon as they emerge, openly and honestly, and mitigating any impacts on service and/or pricing as much as reasonably possible.