Supply chain woes slashing Canadian manufacturing output, raising costs: Survey
BNN Bloomberg
Canadian manufacturers say supply chain disruptions are cutting into their production and raising costs, putting the recovery of the sector and the overall economy at risk.
Canadian manufacturers say supply chain disruptions are cutting into their production and raising costs, putting the recovery of the sector and the overall economy at risk.
A new survey by Canadian Manufacturers and Exporters found nine out of 10 companies in the sector are grappling with supply chain issues.
More than half say the disruptions are having a major or severe impact on operations.
The report says Canadian manufacturers have lost more than $10 billion in sales as a result of supply chain disruptions and are facing nearly $1 billion in increased costs.
Eight in 10 say they have been forced to hike prices and delay fulfilling customer orders.
Dennis Darby, president and CEO of the manufacturing industry group, says demand for goods is strong, but manufacturers are increasingly unable to keep up with orders.
