Due to supply chain problems, most companies in Germany have changed their purchasing strategy. In a survey of 4,000 companies by the Ifo Institute, 68 percent of industrial companies said they had increased their inventories. 65 percent broadened their supplier base with new suppliers and sources of supply. The Munich economic researchers announced on Thursday that 13 percent brought outsourced production processes back into the company.
“Large companies have taken more measures as a result of supply chain disruptions than small and medium-sized companies,” said Ifo researcher Andreas Baur. “In addition, large companies have diversified their supplier structures in particular and are monitoring their supply chains more closely. Small and medium-sized companies, on the other hand, tend to rely on increased warehousing.”
As of May 2021, not even half of the companies had planned to adjust their procurement strategy, the survey found. In the most recent survey three months ago, 87 percent of industrial companies, 76 percent of wholesalers and 63 percent of retailers said they had changed their strategy. “This indicates that many companies are now reassessing risks in supply chains,” said Baur.( dpa)