Thomas Survey: Two-Thirds of Manufacturers Likely to Reshore as a Result of Pandemic
NEW YORK — A recent Thomas survey reporting on COVID-19's impact on the U.S. manufacturing and industrial sectors reveals that 64 percent of manufacturers report they are likely to bring manufacturing production and sourcing back to North America. Additionally, the survey finds that one in four U.S. manufacturers are considering expanding industrial automation.
"The COVID-19 pandemic will fundamentally redefine how industrial companies approach their supply chains and will further advance the digital transformation of manufacturing," says Tony Uphoff, president and CEO of Thomas. "By embracing real-time resource management, redundancy, reshoring, and the convergence between the digital and physical supply chains, manufacturers will come out of this crisis even stronger than they were before. It's encouraging to see that even in the most uncertain and challenging of times, the North American manufacturing sector is adeptly rising to the occasion by pivoting production to address the urgent need for PPE and other medical supplies, hiring additional skilled workers, and supporting the industrial economy."
Additional key survey findings include: