Is your manufacturing operation continuing during this outbreak? If so, you are not alone. Eighty-eight percent of our manufacturing survey respondents work at an essential business.
Businesses around the globe have been affected, and we wanted to take a look at how the manufacturing industry is faring during this time. The second Quality Magazine Manufacturing Industry survey was conducted by Clear Seas Research in early April to look at how the coronavirus is affecting manufacturing now. The survey asked subscribers from 12 BNP Media publications in the manufacturing industry to determine how their business is coping, what worries they face, and what they expect in the future.
The current economy is the top area of concern for those surveyed. They are also worried about friends and family becoming infected with COVID-19, achieving business goals over the next three months, and business stability over the next 12 months.
Other top areas of concern are supply chain interruptions and business stability over the next six months. Further down the list of concerns are personally becoming infected with COVID-19, employees not showing up to work, skilled labor shortages, and lastly, IT cybersecurity with remote employees.
This is similar to the results of the previous survey, though the concern over becoming infected—both personally and for family and friends—did increase.
At this time, active business is continuing on schedule according to 63% of respondents (down from the 67% from the March 24-26th survey).
Planned business is on schedule for 57% of respondents, dropping from the 63% that was on schedule for the previous survey.
Twenty-six percent of respondents say they will be applying for a small business stimulus loan.
As one respondent said, “We are mostly doing business as usual. We are an essential business and most of the businesses we work with are also essential. The main difference now is that we are cleaning a lot more and promoting social distancing within the workplace.”
The online survey was sent to BNP Media subscribers and fielded April 2 –6, 2020
How do these results compare with your experience? Please let us know. You can reach me at email@example.com.
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