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United Kingdom
United Kingdom
Key definition
Supply definition What does Supply mean? Supply describes the provision of goods, services or rights by one party to another for consideration. In UK VAT law it is a defined term: Value Added Tax Act 1994, s.5(2)(a) states that “supply includes all forms of supply”, and s.5 distinguishes between a supply of goods and a supply of services, with deeming rules (such as self-supplies). In Ireland, the Value-Added Tax Consolidation Act 2010 similarly defines supply of goods and supply of services on a broad basis. The concept is central to VAT, determining whether a transaction is taxable, the place and time of supply (tax point), and...
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Managing Global Supply Chain Risk: Due Diligence, Contractual Controls, Cyber Security and Resilience Strategies for Commercial Lawyers
Published by a
LexisNexis Commercial expert
Practice notes
This Practice Note
Examines the practical difficulties of global Supply chains and the commercial Lawyer’s role in building a resilient supply chain for a business. It reviews supply chain risk and the suite of tools available to lawyers to mitigate those risks, including assessing and managing partner risk, controlling risk through supply chain contracts, and supplementary approaches to risk management, as well as other methods for managing risk.
Effective risk management in supply chains demands insight into both operational realities and the legal obligations that apply wherever a company’s direct and indirect suppliers operate. The increasingly global nature of manufacturing supply chains raises even further the difficulty of managing risk and amplifies the consequences of failure. This is compounded by uncertain geopolitical and financial landscapes across jurisdictions that disturb harmonious conditions between markets, as shown in 2025 by the US imposing tariffs on certain global markets. On a global basis.
Consequently, the risks that almost every business must now routinely assess go beyond natural disasters, pandemics and market downturns, and include:
- unpredictable consumption patterns
- labour unavailability
- product scarcity
- global logistics issues
- the rise of geopolitical tensions
Furthermore, in certain industries and sectors, businesses are being forced to implement increased scrutiny...
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Web page updated on 21/05/2026
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