Survey: Companies Not Ready To Benefit From Recovery

Recent survey found that while the majority of supply chain executives are optimistic about the economic recovery, few are ready to take advantage of the turnaround.

RALEIGH, N.C. -- A recent survey of supply chain executives conducted at the Supply Chain Leadership Forum found that the majority of executives believe that the U.S. economy will turn around in either the second quarter of 2010 or the fourth quarter of 2009.

About 41 percent expect positive GDP growth in Spring 2010, while nearly 30 percent say the economy will rebound earlier in Winter 2009.

"Your outlook on the timing of the 'Great Comeback' certainly depends on your industry sector," said Bruce Tompkins, Executive Director of the Supply Chain Consortium. "For instance, food and beverage is already seeing some growth, but high-tech and retail will need to wait awhile before their industries experience more positive results."

Although companies are optimistic about the future of the economy, 90 percent of respondents say they have not yet developed a significant comeback plan or the initiatives to carry it out. Additionally, most executives said they are not prepared to take advantage of government stimulus incentives for new projects.

"The smartest companies are shifting to recovery mode before their rivals by developing and implementing a strategic plan that anticipates the end of the recession and positions them for future growth," Tompkins said. "But even companies that were not significantly impacted by the downturn are pursuing aggressive supply chain improvements to strengthen their competitive positions."

For more information, click here. 

More in Economics