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Survey: Manufacturing Bosses Stepping Up Supply Chain Resilience as Pandemic Response

March 2, 2022 Leave a comment DRI Admin

The past few years have shown us all how precarious the global supply chain can be. As a response, CEOs in the manufacturing sector are taking active steps to mitigate their supply chain risks.

The Global Manufacturing Prospects 2022 report from accounting firm KPMG surveyed 150 CEOs in manufacturing worldwide. Based on their responses, two major lessons were learned – the importance of a resilient supply chain, and the need to invest in new technologies to strengthen that resistance.

When asked about the impact of the pandemic on their organizations in the next three years, 68% said their goal is to ensure their supply chain is resilient in the event of a global lockdown. When asked to identify the top risks to their organizations’ growth, the top responses were:

  • Supply chain risk – 25%
  • Operational risk – 13%
  • Emerging/disruptive technology risk – 12%
  • Regulatory risk – 12%
  • Environmental/climate change risk – 9%

To mitigate stress on their supply chains in the next three years, the top strategies included:

  • Monitoring deeper into the chain (i.e. tiers 3-4) to better anticipate problems – 35%
  • Diversifying/adding new locations of inputs to make the supply chain more resilient – 31%
  • Onshoring more inputs to enhance production and/or operational resiliency – 22%
  • Employing more strategic planning to bring greater stability to input costs – 12%

Click here to download the report.

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