Data Report: The Most Significant Supply Chain Delays in 2020
No matter how streamlined your supply chain is, delays are bound to happen. Unforeseen circumstances are unfortunately a part of life. Based on what we’ve experienced in 2020, supply chain delays among many other economic factors have crippled businesses. As we look forward in 2021, we are seeing strong manufacturing coming from China’s whose PMI (Purchasing Manager Index) rose to an all-time high in November. In the US similarly, manufacturing hit an all time-high last month.
However, lead times continue to extend beyond what was normal for pre-COVID times. This is why we’re surfacing the top supply chain delays brands have experienced since the pandemic hit, and how to reduce the impact in 2021. It’s now more important than ever to understand what’s causing a severe compounding effect on your operations and manage supply chain relationships with closer attention to detail.
How we arrived at the results
To arrive at the longest and most common delays supply chains experienced in 2020, our data engineering team analyzed a random sampling of over 2,500 delays and used Natural Language Processing (NLP) to derive at the delay themes in the report. We used a technique called topic modeling, a machine learning process that automatically clusters similar text data to derive at human-readable topics.
To read more about all of the learnings and insights, download the report now.
Want a video version? Watch the on-demand webinar of this report, where Data Engineer, Christine Liu and Senior Global Operations Manager, Daniel Magida of Anvyl talk through the top 5 supply chain delays in 2020, and strategies you can take to control better outcomes in 2021.