08142020Fri
Last updateFri, 14 Aug 2020 6pm

Manufacturing & The Economy

Report: 89% of Manufacturers Negatively Impacted by COVID-19

The global manufacturing and supply chain ecosystems have been among the hardest hit sectors by the COVID-19 pandemic. Fictiv’s newly released 2020 State of Manufacturing Report reveals industry leaders grappling with fallout from the pandemic while eyeing new opportunities created by the disruption.

Key findings include: 89% report a direct business impact because of COVID-19 including lower sales, increased costs of materials and production, and canceled or delayed product launches. Only 17% of respondents gave top marks to their supply chain’s performance over the last year. A majority of those polled are revisiting their reliance on China and looking to the U.S. as the next key manufacturing center.

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