State of the Industry (2021-Q3)

Here is the quarterly Exotek State of the Industry Report in which we consolidate various sources of information into a single report. We look at economic indicators and key vendor releases to get a better idea of the overall health of our industry.

The latest economic indicators (July) all continue to point to strong growth for industrial manufacturing and production. From the CEO to the Purchasing Managers to our fellow systems integrators, everyone is expressing optimism while facing similar challenges. Most prominently are supply issues and difficulty finding sufficient workforce to meet demand.

Consequently, manufacturers are struggling to meet demand for orders and backlog respectively. Orders have not only recovered, but are exceeding those prior to the pandemic. With respect to backorders, we see a steady growth in back orders as manufacturers struggle ramp up production with limited supply and workforce.

August 25, 2021