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.
“COVID-19 is a clear point of demarcation in the industry, accelerating the transition from traditional supply chains and manufacturing to a digitally-enabled future,” said Fictiv CEO Dave Evans. “This deep dive reveals an opportunity for those industries most profoundly impacted by the physical realities of the virus to iterate faster with finer tolerances and higher quality using digital manufacturing advances. We believe OEMs can rely on digital manufacturing partners to bridge this digital transformation gap and overcome the overwhelmingly complex and costly mandate of necessary digital advancement.”
Conducted with Dimensional Research, the fifth annual manufacturing industry report polled hundreds of senior manufacturing and supply chain decision makers at companies producing medical device, robotics, automotive, aerospace, and consumer electronics products. Key themes from the report found:
COVID-19 Has Negatively Harmed Most Businesses (89%) and Industries
Digital and AI Advances are Important, But Funding Still Lags
Supply Chains Will Look Different, But China Remains an Option
“While many businesses will examine reshoring as part of their future supply chain, China continues to offer important advantages in infrastructure and manufacturing talent – making it a stable part of any supply chain ecosystem,” said Fictiv COO Jean Olivieri. “The opportunity for supply chain executives will be to introduce digital and AI capabilities through partners and investment that can build an agile, resilient supply chain able to flex across geographies and demand in real-time and with complete transparency.”