The quarterly survey, which tracks CEO and decision-maker sentiment at more than 150 leading companies nationally, reveals that 90 percent of CEOs expect supply chain concerns to stretch well into 2023. But it reveals resilience in the face of continued disruption: The majority of CEOs – 80 percent – are planning capital investments, inclusive of talent, technology or other improvements.
Specifically, nearly 70 percent of CEOs said they are investing in employees, 66 percent are investing in automation and workflow operations and 63 percent are embracing emerging technologies like Artificial Intelligence (AI). Nearly two-thirds (64 percent) of the CEOs say they are currently reshoring or nearshoring their operations, or planning to, with 25 percent planning to expand their offshoring capabilities and 11 percent planning no changes.
“Manufacturing is the bedrock of our domestic and global economy, and CEOs whose companies depend on manufacturers to bring their goods to market are demonstrating resilience while preparing for the future,” said
When asked to describe the shortages they face, 77 percent report shortages in finding components for products and 66 percent report experiencing worker shortages. The survey also finds that 45 percent of CEOs surveyed said they had passed cost increases of 5-15% on to their customers in 2022. But more than half (55 percent) said they had avoided doing so or absorbed the costs directly despite taking a financial hit.
“In our 40 years of probing CEOs, business decision-makers and influencers, this survey of manufacturing executives certainly stands out,” said
A visualization of the survey results is available here.
Xometry’s two-sided marketplace plays a vital role in the rapid digital transformation of the manufacturing industry, connecting enterprise buyers with manufacturers who build the big ideas that fuel the global economy. Xometry’s AI-driven instant quoting engine, cloud-based software and digital sourcing tools are deeply embedded with procurement managers, buyers and engineers on one side and thousands of manufacturers on the other side. Xometry’s proprietary technology shortens development cycles, drives efficiencies within corporate environments and helps stabilize supply chains to make them more resilient.
About
About John Zogby Strategies
A full suite veteran survey research company known for accuracy, quick turnaround and vast experience polling in 80+ countries covering a wide sector including politics, market research, branding, and trendspotting. Learn more at www.johnzogbystrategies.com.
Xometry Press Contacts:
Illume PR
Xometry@IllumePR.com
Matthew.Hutchison@Xometry.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9d2208ea-8e45-407a-9614-a98a5b1be126
Building American Manufacturing Resilience
Join Forbes Senior Editor Amy Feldman , Jeremy Zogby of Zogby Strategies, Allison Grealis of Women in Manufacturing Association , and Randy Altschuler of Xometry , for a special Manufacturing Day webcast in which they will discuss how manufacturing companies are demonstrating resilience in the face of disruption. The webcast will take place at 2 p.m. ET on Friday, Oct. 7, 2022 .
2022 GlobeNewswire, Inc., source