The fourth and final survey conducted by Industry Insights about the impact of COVID-19 on distribution and manufacturing shows some recovery from the pandemic, but there are still areas that are holding back the economy.
The survey, which was conducted June 1-5, received more than 1,300 responses, and shows the number of respondents who have at least one employee with a confirmed case of Coronavirus rose to 18%. When Industry Insights conducted its first survey on March 18, that number was just 1%. While the Industry Insights survey did not address the issue, the availability of more COVID-19 tests could have an impact on the increased number of reported cases in the latest survey compared to the first.
The study displays some positive news on recovery, with nearly all manufacturers and distributors saying they are at least 75% operational. 94% of manufacturers and 93% of distributors told Industry Insights they are moving toward being fully operational.
But, when asked about concerns for long-term viability due to COVID-19, 18% of respondents said they have moderate concerns and 7% said they have major concerns, which is up from a month ago, when just 15% had moderate concerns and 5% had major concerns.
The survey also showed some breakdowns in the supply chain. 61% of respondents report a Coronavirus-related delay in receiving materials. More than half, 52%, say those delays are longer than three weeks.
In each of the four surveys, Industry Insights asked when respondents believe they will return to pre-COVID-19 day-to-day operation status. In the first survey conducted on March 18, the response was June 1. In the April 30th survey, the date moved to September 30. And in the most recent survey completed on June 5, the expected return to normal date moved the December 8. Most respondents believe a return to normal day-to-day operations will happen in less than a year, with 94% saying they expect to see it within the next 12 months.
Tagged with Biggest News, Covid-19