COVER STORY
MANUFACTURING OUTLOOK 2021 ANNUAL MARKET INTELLIGENCE SURVEY
by TR CUTLER Manufacturing Outlook commissioned an extensive marketing research survey of six hundred (600) manufacturing organizations’ CEOs, CFOs, and CTOs. The survey was conducted from December 16 – 23, 2020 to capture the sentiments, attitudes, and predictions for 2021. The volatility of 2020 required this market intelligence because with COVID, vaccines, political chasms, expectations, and planning for 2021 required statistical validation. Respondents were across a wide section of industry sectors and annual revenues ranged from $2M - $1B. Here is what was learned. Supply Chain disruptions trigger innovation and localized sourcing for faster time to market While 60% of manufacturers reported experiencing frequent disruptions to operations due to COVID-19, the unprecedented supply chain disruptions triggered innovation and unexpected resiliency. All respondents shared this shift in operational processes will continue throughout 2021. The shift to local production, where possible, was noted by 74% of the C-level executives.
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Manufacturing Outlook / January 2021
While few expected the deleterious consequences of threats of ongoing trade wars and tariffs, most noted that manufacturing must move production closer to the customer to achieve faster time to market with less working capital.