Supply Chain Resilience Report 2020 from 3D Hubs details impact of Coronavirus
12 August 2020
ACCORDING TO the Supply Chain Resilience Report 2020 published by 3D Hubs, cyber security issues have affected less than 10% of organisations over the past decade compared to 60% of business that have suffered directly as a result of COVID-19 disruption since March.
In 2020, the pandemic has emerged as the most potent threat to economic growth, more than trade sanctions, natural disasters and cyber attacks combined. Over 96% of global companies are now planning to take measures to boost the resilience of their manufacturing supply chains.
However, more than half (52%) admit they are yet to embark on that journey and, as businesses develop long-term strategies, over 59% of companies observe that geographic diversification of their supply chains is the most effective way of building resilience.
The 3D Hubs Supply Chain Resilience Report 2020 includes insights from an industry survey of 1,281 professionals, the company’s own database of 36,000=plus companies and 240 global manufacturing partners.
There are several key findings. For instance, around 72% of companies have experienced external disruptions to their manufacturing supply chain over the last decade. Pandemics, natural disasters and trade wars are the most common disruptive events. Despite being a major concern for many companies, less than 10% have experienced disruptions due to cyber security issues.
The COVID-19 pandemic has been the single biggest disruptive event of the past decade, causing major volatility on both manufacturing supply and demand. Around 60% of all companies report that the Coronavirus has directly disrupted their manufacturing supply chain.
Following the outbreak of COVID-19, over 96% of companies believe measures should be taken to avoid future supply disruptions, but only about half (52%) have done so to date.
Over 59% of companies believe that geographically diversifying their manufacturing supply is the best way in which to prevent future disruptions. Creating more autonomy by investing in automation and developing more transparency throughout the supply chain can also help companies build resilience.
*View the full report online at https://www.3dhubs.com/get/supply-chain-resilience-report/