Many companies worry about how their business will fare in bad economic conditions, but sometimes opportune outcomes stem from times of economic uncertainty — especially for manufacturers.
With seemingly difficult economic conditions on the horizon, there are plenty of indicators that can seem at odds with one another. Recently, the stock market had its worst week since 2008 while sourcing activity for North American suppliers on Thomasnet.com saw record-breaking numbers. Based on a Coronavirus Impact survey conducted this month, over half of the manufacturers surveyed are ‘likely to extremely likely’ to bring production and sourcing back to North America and 47% of U.S manufacturers report they are now seeking domestic sources of supply — likely the reasons for sourcing surge.
Read the full story here: https://blog.thomasnet.com/continuing-to-promote-your-manufacturing-business-during-an-economic-downturn