NEW YORK–(BUSINESS WIRE)–Thomas, the leader in product sourcing, supplier selection, and marketing solutions for industry, today released a follow-up survey reporting on how the coronavirus outbreak is affecting U.S. manufacturing. The survey is the second phase of Thomas’ February 2020 survey which examined over 1,000 North American manufacturing and industrial suppliers to determine the current impact and learn more about the solutions companies are implementing to meet surging sourcing demands.
A key finding in the new survey shows that over half of manufacturers are ‘likely to extremely likely’ to bring production and sourcing back to North America. Additionally, 47% of U.S manufacturers report they are now seeking domestic sources of supply.
“It’s encouraging to see that many North American companies are forging ahead and seeking solutions including turning toward domestic sources of supply, a trend which will help shape the next wave of manufacturing,” said Tony Uphoff, the president and CEO of Thomas.
Additional new findings include:
The study was conducted online using Qualtrics. As a follow up to the February 2020 survey, the March 2020 survey polled over 1,073 North American suppliers with revenues spanning from less than 4.9 million to over $500 million. To get a copy of the Thomas Industrial Survey: Coronavirus’ Impact on North American Manufacturers, click here.
Thomas provides actionable information, data, analysis and tools that align with and support today’s industrial buying process. Its solutions include the Thomas Network at Thomasnet.com®, industry’s largest and most active buyer/supplier network. Through Thomas Marketing Services, the company provides full-service industrial marketing programs and website development. Thomas Product Data Solutions helps manufacturers connect with design engineers through advanced CAD/BIM and data syndication services. Thomas WebTrax® provides opportunity intelligence on in-market buyers to help marketing and sales teams track, identify, and engage high-value prospects. Thomas Insights delivers original content to help marketers and supply chain professionals inform their decision-making, through leading titles including Inbound Logistics®, Industrial Equipment News® (IEN®), Thomas Industry Update, and the Thomas Index™.