U.K. Government Launches New Supply Chain Resilience Strategy

U.K. Government Launches New Supply Chain Resilience Strategy

Time Stamp: January 18, 2024 10:40 AM
Source Node: 3077618

The U.K. Department for Business and Trade launched its new Critical Imports and Supply Chain Strategy January 17, with the stated aim of helping U.K. businesses better handle supply chain shocks.

The strategy was launched by the Minister for Industry and Economic Security, Nusrat Ghani, during a visit to Heathrow Airport in London, the U.K.’s largest import hub.

The Critical Imports and Supply Chains Strategy allows the government to share important information regarding risks to vital supply chains. It also specifies steps that businesses can take to protect themselves from supply chain disruptions, including updates on emerging supply chain risks like export bans.

An online portal will be set up under the plan that allows organizations to provide information on any new supply chain disruptions. From there, the government will work with affected businesses to lessen the impact of these disruptions, potentially saving companies time and money.

The government also plans to establish a Critical Imports Council that will enable businesses to identify risks and develop a plan of action for importing goods.

“There are many unpredictable events that can threaten our access to vital goods, from the pandemic, Russia’s illegal war in Ukraine, and the ongoing attacks in the Red Sea. That’s why we’re taking action to ensure crucial imports like medicines can reach consumers, no matter what happens around the world,” said Ghani. “With this strategy, we’re equipping businesses so they no longer have to rely on unpredictable partners for supplies of the goods that keep our country going. By making supply chains stronger we’re helping make the UK a truly safe and reliable place to do business.”

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