July 2020
Featured in this insight: Manufacturing, engineering & industrial
Six in ten manufacturing professionals expect the sector to recover by mid 2021: A survey of manufacturing professionals has found encouraging levels of optimism within the sector, with 60% expecting it to return to 'business as usual' by mid 2021, following the current coronavirus pandemic.
The research from SteelScout polled more than 100 manufacturing professionals across the UK, finding that 62% have orders waiting to be fulfilled once lockdown rules have been lifted.
The survey also revealed some of the issues manufacturers have been facing since lockdown began, with 30% saying they have had issues accessing the materials they need, and 36% saying it is taking more time than usual to get a 'winning quote'.
More than half the participants in the poll reported they have been working at a reduced capacity or have had to furlough employees, due to the pandemic, with one in ten saying that all staff had been furloughed.
The research showed that more than a fifth of the companies polled have diversified to produce items such as masks and screens since lockdown began, while almost a third have turned to digital platforms to secure materials they need.
Asked about the ways their company has adapted throughout lockdown, remote working was the top answer given (49%).
Matt Yeates, managing director of SteelScout, said:
"Many businesses may never return to the previous way of working and I believe a key part of the recovery will come from locking in lessons learned during the pandemic."
View more of our sector specific insights: Manufacturing, engineering & industrial
