Though the recession associated with the coronavirus pandemic has been relatively short, it has had an enormous impact on many manufacturers. In a recent article from Industry Week, author Stephen Gold examines some of the impacts that manufacturers will feel for years to come.
Gold examines the results of a recent survey of large, global industrial companies, pulling out the following results:
On top of the hardships associated with reopening, manufacturers are faced with the challenge of major capacity declines associated with the crisis. Ramping back up to pre-pandemic levels will take time and coordination. The threat of a second wave of the virus only makes this task more intimidating.
Reopening will be slow and difficult, so do not expect smooth sailing. For further details, click here to read the article in full at Industry Week.