Global manufacturing economic forecasts in the wake of COVID-19 have improved thanks to stronger than expected recoveries from the U.S. and China, but there is a long road to recovery, particularly for some key industries.
COVID-19's impact on manufacturing for the short- and long-term depends on the particular industry and the region, though recovery is eventually expected to reach 2019 levels according to Interact Analysis.
While we are still embroiled in the battle to contain and defeat COVID-19, nobody truly knows the eventual outcomes, but we can begin to assess the impacts and respond positively to change.
A study from the University of Birmingham says manufacturers need to redesign and reform their supply chains or global production networks (GPN) if they want to prosper in the wake of the COVID-19 pandemic.
As the economy grows after the COVID-19 pandemic slowdown, manufacturers face challenges and opportunities including industrial disaster recovery, manufacturing supply chains, manufacturer staffing, transparency, and manufacturing investments.
COVID-19 is negatively affecting manufacturing in China and causing series supply chain challenges according to a Control Engineering China April survey. More automation with faster digitalization is the most-expected result in a ranked list.
Recent results of a survey on the impact of the coronavirus displayed a shift towards more positive expectations and minimal impact to the electronic components industry.
Engineers like facts and seek credible information sources on COVID-19 (Coronavirus) effects to the engineering-related world. Engineers also have technologies, processes and expert advice that can help. See Control Engineering highlights.