New data suggests a heavy proportion of buyers in manufacturing are searching for new suppliers, as the global recession has altered many companies’ supply chains.
According to results of a recent survey of North American suppliers by the online manufacturing marketplace MFG.com, 69% said they had maintained or grown their sourcing needs in the past year, while 31% stated their sourcing needs had decreased during this period. Nearly half of those polled said they were currently in the process of looking for new suppliers, while the other half stated they were not augmenting their supply chain.
The MFGWatch Survey queried over 200 purchasing professionals and engineers from the manufacturing industry, focusing on the state of sourcing, sourcing preferences, company growth projections, and reactions to the economic state.
Questioned about geographical sourcing preferences, 64% preferred to source with North American manufacturers, 19% favored China for their sourcing needs and 7 percent conducted their sourcing business in Europe.
Respondents were asked if the volume (both value and quantity) of their orders for sourcing had changed in the past year. Sixty percent reported their volume had increased or remained the same, while 40% cited a decrease in sourcing volume.