Supply chain issues, including the availability of raw materials, are one of the key challenges for manufacturers in 2022. This leads to inflation which is another key challenge.
In a recent survey by the National Association of Manufacturers, quality workforce availability was another key challenge.
Somewhat surprising, given these challenges, was the percentage of survey respondents that had a positive outlook for their own company. Overall, 88.8% of respondents had a positive outlook. Among small manufacturers, 80.3% had a positive outlook. Medium-sized was 91.2% and large-sized was 87.8%.
Challenges for a Small Precision Machine Shop
The availability of raw materials and inflation are at the top of our list. Prices for raw materials change quickly as well.
These challenges are forcing us to do deeper research to find raw materials. Lead times have been increasing as well as prices. Our quoting process has been challenged because prices change so quickly. It is difficult for us to commit to long-term pricing for our customers.
Through it all, we remain positive! We continue to work through these challenges with our customers.