A[/Dropcap]ccording to the Supply Chain Resilience Report 2020 from 3D Hubs, cybersecurity issues have affected less than 10 percent of firms over the past 10 years, compared to 60 percent that have suffered directly as a result of COVID-19 disruption.
In 2020 the pandemic has emerged as the most potent threat to economic growth, more than trade sanctions, natural disasters, and cyberattacks combined. More than 96 percent of global companies are now planning to take measures to boost the resilience of their manufacturing supply chains. However, more than half (52 percent) admit they are yet to embark on that journey.
As businesses develop long-term strategies, more than 59 percent of companies say geographic diversification of their supply chains is the most effective way of building resilience.
The report includes insights from an industry survey of 1,281 professionals, its own order database of more than 36,000 customers, and 240 global manufacturing partners.
Around 72 percent of companies have experienced external disruptions to their manufacturing supply chain over the last 10 years. Pandemics, natural disasters, and trade wars are the most common disruptive events. Despite being a major concern for many companies, less than 10 percent have experienced disruptions due to cybersecurity issues.
The COVID-19 pandemic has been the single biggest disruptive event of the past decade, causing major volatility on both manufacturing supply and demand. About 60 percent of all companies report the coronavirus directly disrupting their manufacturing supply chain.