New survey finds that 9 in 10 Wisconsin Businesses experienced supply chain challenges in the last year
MADISON – A new survey of Wisconsin businesses revealed that supply chain challenges were not unique over the last 12 months. In fact, nearly nine in 10 companies said they experienced delays or other challenges related to their supply chain.
Among these businesses, 90 percent saw an increase in the cost of supplies and nearly one-third had to turn down orders. Additionally, some employers had to change suppliers, produce more products in-house and even cancel entire product lines indefinitely.
Wisconsin Manufacturers & Commerce (WMC) – the combined state chamber and manufacturers’ association – conducted this survey over the first three weeks of June on a variety of topics. Other data from the Wisconsin Employer Survey has been released over the last month.
On Thursday, WMC released the final survey data regarding the state and national economy.
“It should come as no surprise that a global pandemic and related government shutdowns severely disrupted Wisconsin’s supply chain,” said WMC President & CEO Kurt Bauer. “This is a problem that is being compounded and sustained by government. Instead of empowering the private sector to respond to this enormous challenge, the Biden Administration continues to push problematic policies that decrease the accessibility of reliable domestic energy, drive historic inflation and further stress our already strained supply chains.”
Along with navigating supply chain issues, many Wisconsin companies also are faced with increasing concerns about cybersecurity. According to the Wisconsin Employer Survey, over half of businesses have experienced cyber-attacks in the past year.
These attacks came in the form of phishing emails, malware and man-in-the-middle threats, among others. At the same time, Wisconsin businesses are taking extra steps to protect themselves and their data. Over 70 percent have increased employee education about cybersecurity, 68 percent have updated IT protocols and 50 percent have performed a cybersecurity audit.
Despite the economic challenges Wisconsin employers faced over the past year, they remain optimistic about the economy with 59 percent of respondents reporting that Wisconsin’s economy is strong and 53 percent of respondents reporting that the U.S. economy is strong. More than eight in 10 employers are also optimistic that both the state and national economies will experience growth in the next six months.
Previously, WMC also released reports on Workforce & Employment, State & Federal Policy and COVID-19 & The Changing Workplace. WMC surveyed 266 employers that make up a representative sample of its membership. Businesses of all sizes, industries and geographic locations in Wisconsin participated.
Click here to download the entire Wisconsin Employer Survey – Economy, Cybersecurity & Supply Chain report.
Following the release of this report, WMC Foundation – an affiliate of WMC – will be hosting a free webinar on Creating a Responsive & Agile Supply Chain in partnership with Baker Tilly. The webinar on Sept. 8 will be open to all members of the business community. Click here to register.