55 percent of industrial companies addressing supply chain contingency planning issues

According to the latest Thomas Industrial Network ‘Industrial purchasing barometer’ survey 55 percent of industrial buyers' companies have a supply chain contingency plan or have begun to create a plan by identifying critical materials and suppliers.

The IPB survey was conducted randomly among Thomas' pool of over one million opt-in online users. Survey respondents represent manufacturing and engineering segments, as well as wholesale trade, distribution, service providers and government agencies.

Of those companies who are developing a supply chain contingency plan, the survey identified the following critical components of creating such a plan:

* Identify critical materials and services and who supplies them : 37 percent
* Perform risk assessment of suppliers : 23 percent
* Build contingency into routine day-to-day operations : 23 percent
* Set recovery time objectives : 15 percent

"Thomas' IPB survey results demonstrate that industrial companies are realistic about the need to protect their supply chain," said Eileen Markowitz, president, Thomas Industrial Network. "While the survey uncovered varying degrees to which companies are preparing for supply chain disruption, they indicate a strong understanding of the importance of building a plan."

www.ThomasNet.com

•Date: 15th April 2004 •Region: N.America •Type: Article •Topic: BC statistics
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