According to a survey conducted among members of the American Home Furnishings Alliance the first week of March, two-thirds of the membership has already experienced supply chain disruptions due to the COVID-19 pandemic.
Sixty percent of the members who responded to the survey said they expect the crisis to have a financial impact on their business, and 42 percent said it will force a change in operations in coming months.
The survey was conducted in conjunction with the National Association of Manufacturers (NAM), which also surveyed its members the first week in March. AHFA’s member responses were forwarded to NAM to help gauge the nationwide impact of the pandemic on manufacturing supply chains and operations.
Altogether, NAM received 558 responses. Nationwide,
- 35.5 percent of the manufacturers said they were already facing supply chain disruptions.
- More than half said they anticipate a change in operations in the coming months.
- More than 78 percent said that uncertainty surrounding the impact of the COVID-19 pandemic is likely to have a financial impact on their businesses.
- Just over half (51 percent) said they have an emergency response plan at their company.
Compared to these national results, AHFA members were not as quick to establish emergency response plans. At the beginning of March, only 42 percent of the member companies who responded to the survey said they had an emergency response plan in place.
When asked what information would help them navigate the crisis, AHFA members focused on “accurate and up-to-date information,” especially with regard to keeping their employees safe from infection.
“AHFA conducted its survey before the wave of event cancellations and before dramatic closures in the hospitality, restaurant and retail industries,” said AHFA CEO Andy Counts. “While manufacturing seemed manageable at the outset, the ripple effect of closures is now testing the resilience of our companies. AHFA remains committed to supporting its members and helping them weather the storm in whatever manner possible.”
A Member Bulletin distributed to all member company presidents earlier this week included links to several reliable sources for COVID-19 updates and emergency planning. They included the CDCs Situation Summary page and the Pandemic Preparedness Guide from the Department of Homeland Security.