The outlook for Canada’s manufacturing sector continues to be clouded by ongoing supply chain, workforce, and pricing pressures.
The pandemic has disrupted nearly every aspect of the global supply chain, resulting in shortages and price hikes across a whole range of products. The most prominent example of this is the global semiconductor shortage, which has severely dented auto production. But there are countless other examples.
Unfortunately, even though the Omicron wave is subsiding, future waves cannot be ruled out. As such, the pandemic’s effect on supply chains is expected to linger for months to come. Until these issues are sorted out, the economic recovery will remain bumpy.
Against this backdrop, CME surveyed its members about the extent to which supply chain issues are affecting their operations, the strategies they are implementing or planning to implement to mitigate them, and recommendations on short and long-term solutions.