Industrial journalist, TR Cutler reported 2021 market intelligence survey results in the January issue of Manufacturing Outlook e-zine. The survey was conducted to capture the sentiments, attitudes, and predictions for 2021. The volatility of 2020 required this market intelligence because with COVID, vaccines, political chasms, expectations, and planning for 2021 required statistical validation.
Respondents were across a wide section of industry sectors and annual revenues ranged from $2M – $1B. Read the results of the survey in Manufacturing Outlook here.
While 60% of manufacturers reported experiencing frequent disruptions to operations due to COVID-19, the unprecedented supply chain disruptions triggered innovation and unexpected resiliency. All respondents shared this shift in operational processes will continue throughout 2021. The shift to local production, where possible, was noted by 74% of the C-level executives.
While few expected the deleterious consequences of threats of ongoing trade wars and tariffs, most noted that manufacturing must move production closer to the customer to achieve faster time to market with less working capital.
Accelerated digital transformation was in the queue before 2020, however the pandemic reinforced that manufacturers relied on access to labor, physical space, and centralized factories. Digital transformation is the logical extension of B2C eCommerce consumers have grown accustomed to while sequestered at home. The ability to drive B2B eCommerce in the same fashion and modality was named a non-negotiable imperative by 100% of the respondents.
Jacket Media is the parent company of Manufacturing Outlook e-zine. The publication highlights current manufacturing trends.
About TR Cutler, Inc.
Thomas R. Cutler is the President and CEO of Fort Lauderdale, Florida-based, TR Cutler, Inc., the largest manufacturing communication firm worldwide with four dozen industry experts and thought leaders on staff. Cutler is celebrating the 22-year anniversary of the Manufacturing Media Consortium.
Cutler has authored more than 8,000 articles for a wide range of manufacturing periodicals, industrial publications, and business journals. Cutler is the most published freelance industrial journalist worldwide, and more than 4800 industry leaders follow Cutler on Twitter daily at @ThomasRCutler.
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