Grocery Regulations 'Will Impact Every Area' Of Retailer Supplier Relationships
Published on Feb 9 2015 12:49 PM
The grocery goods regulations being proposed by Minister for Jobs, Enterprise and Innovation Richard Bruton will 'impact every area of a business operating in the [retail] sector including financial, marketing, sales, packaging, compliance and delivery and logistics', according to law firm A&L Goodbody.
Dr. Vincent Power, partner in A&L Goodbody and head of the firm’s EU and Compliance Group, said that retailers have a 'unique opportunity' to influence the legislation, calling on the industry to make submissions on the proposed legislation before the February 27 deadline.
“Managers and management teams should familiarise themselves with the proposed regulations and consider their implications, across all the areas of the business." he said.
Some of the areas the new legislation will seek to address include special rules applying to “relevant grocery goods undertakings” that have a worldwide annual turnover of more than €50 million. For example, a relevant grocery goods undertaking must prepare forecasts and supply them to suppliers.
Commenting on the proposed regulations in December, Minister Bruton said that “Relationships will continue to be based on commerce and prices will continue to be set by hard negotiations – this is in the interests of consumers. However new legal provisions will require that in future, contracts must be in writing, certain terms must be included, records must be retained for inspection and a compliance statement must be made.
"These measures together with strong enforcement powers will ensure that these relationships are fair and sustainable."
© 2015 - Checkout Magazine by Stephen Wynne-Jones