At the beginning of 2022, approximately 88% of manufacturers were experiencing longer than average lead times.1 Supply chain delays lengthened the wait for everything from raw materials to technology, equipment, and spare parts.
In the year since, about 76% of manufacturers were optimistic about global supply chain improvements and returning to normalcy in business operations.2 However, increased costs and heightened geopolitical tensions continue to add to substantial delays in delivery of technologies and critical parts, among other factors.
As a result, supply chain experts are anticipating at least another six to 12 months of disruptions1 — and most manufacturers will be left to contend with extended lead times that could mean lost opportunities.