In 2020 and 2021, the US witnessed a strange phenomenon: Some manufacturers were not only surviving the COVID-19 pandemic, but they were also actually thriving. While other companies struggled, these firms adapted and grew.
Wipfli surveyed 194 US manufacturers. The study reports on a range of manufacturing trends and concerns – from how long it takes manufacturers to get new products and services to customers, to annual turnover rates for managers and frontline employees, to the number of data breaches manufacturers are experiencing per year.
Wipfli’s Resilient Manufacturers Study delivers the explanation: Four foundational performance dimensions empowered manufacturers to overcome the challenges of the last two years, including innovation, growth, automation and resiliency. Nearly three-quarters of executives consider their companies to be a leader in at least one dimension, but only 7% are leaders in all four. Similarly, 64% have dedicated, well-aligned strategies for at least one dimension, but only 15% have them for all four.
For more information, visit www.wipfli.com.