How COVID-19 Will Impact Manufacturers

Companies are facing supply chain disruptions and expecting to take a hit financially.

 

The National Association of Manufacturers shared the results of a survey about the impact of the COVID-19 outbreak on member companies.

The survey was open from Feb. 28 to March 9, resulting in 558 respondents.

78.3% of respondents said they anticipate a financial impact.

53.1% of respondents anticipate a change in operations, and 35.5% of said they are facing supply chain disruptions.

Asked about resources that they need, respondents cited reliable information, including nonpolitical and non-sensationalized facts.

Respondents said they need clear and timely updates on new restrictions and health advisories, and info about how other companies are reacting.

Respondents also need clear guidelines from expert agencies, and early detection resources to help stop the spread of the virus.

“Already, manufacturers are grappling with disruptions to their businesses due to the COVID-19 outbreak, with many anticipating financial and operational consequences — even before some of the developments of this week. The federal government can take steps to further equip manufacturers to deal with COVID-19 by implementing the NAM’s ‘COVID-19 Policy Action Plan Recommendations.” – NAM President and CEO Jay Timmons

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