MFGWatch 2019 report delivers insight into North American manufacturing

Online manufacturing marketplace MFG.com has announced the availability of its "MFGWatch 2019 Manufacturing Report." The survey was completed by sourcing professionals and custom manufacturers who have used the MFG.com Global Custom Manufacturing Marketplace to expand their supply chain and win business. More than 300 companies participated.

Among the report’s highlights:

• Business is growing. Suppliers plan to increase staff in 2019 to keep up with demand, with more than 44 percent saying they will invest in their workforce and acquire new technology.
• Despite growth, there are concerns. Fifty percent of suppliers agreed that the availability of materials is an issue, with 44 percent citing tariffs as a stumbling block. On the buyer side, tariffs and shipping costs (i.e., logistics) were key areas affecting their supply chain strategies, both coming in at around 42 percent. The growing gap in skilled workers also was a key concern.
• Companies are sourcing in the U.S. Almost 90 percent of buyers and sourcing professionals cited the U.S. as their company’s primary sourcing destination for manufacturing their products. However, of those that are sourcing overseas, 79 percent have made no change to bring production back to North America from lower-cost countries.