56% of businesses experienced more supply chain disruptions in 2021 than 2020, a Hubs report reveals.
Last year was marked by a number of challenges, including computer chip shortages, port congestion, the ongoing impacts of COVID-19, logistics impediments, and energy crises, though with every hurdle faced, solutions are being sought. It is increasingly clear that while certain risks are hard to anticipate and difficult to plan for, it is possible to mitigate the effects of supply chain disruptions by establishing a robust and agile supply chain.
Over 98% of global companies are now planning to boost the resilience of their manufacturing supply chains, however, 37% have yet to implement any measures. As businesses develop long term strategies, over 57% of companies say diversification of their supply chains is the most effective way of building resilience. This report explores last year’s most disruptive events, how disruptions have changed over time, industry trends and strategies for strengthening manufacturing supply chains.
The report includes insights from a 2021 survey of 437 professionals, a 2020 industry survey of 1,281 professionals, its own database of 36,000+ companies, and 240 global manufacturing partners.
Key findings on supply chain disruptions in 2021
- Material shortages overtook COVID-19 as the top supply chain disruption in 2021.
- 75% of companies experienced external disruptions in 2021, and 56% say that 2021 brough more disruption than 2020.
- 98% of companies believe measures should be taken to avoid future supply disruptions, but only 63% have done so to date.
- Over 57% of companies believe that diversifying their manufacturing supply is the best way to prevent future disruptions. Creating more autonomy by investing in automation and developing more transparency throughout the supply chain can also help companies build resilience.