Specialty Fabrics Review Buyer's Guide 2021 - 6

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From the

Editor

The redesigned magazine website has everything
the print edition has and more:
* Daily posts of breaking industry news
* Online Buyer's Guide
* Market-focused content, new products,
case studies and business advice

Reimagining business in
a post-pandemic world

W
Jill C. Lafferty,
Senior Editor

hen we sent the 2020 Specialty Fabrics Review
Buyer's Guide to press last May, the industry was
just beginning to grapple with the challenges and
unknowns of the coronavirus pandemic. Companies were
pivoting to seize new opportunities and justify an " essential "
designation to stay in business. Managers were adjusting
their shops' workflow to keep employees safe. Many
owners were making the difficult decisions to furlough or
lay off valuable employees, and some small businesses were
applying for the Paycheck Protection Program to help keep
their doors open and workforce employed. Indeed, history
may look back at 2020 as one of the most difficult years to
have been in business.
The " COVID-19 Business Impact in 2020 " survey,
conducted by Industrial Fabrics Association International
(IFAI) in late December 2020 and early January 2021,
confirmed the struggles that Review reported all year.
* More than 65% of respondents said that the pandemic
had a moderate or large negative effect on their company.
* 25% pivoted to manufacture or supply personal protective
equipment (PPE) or related products.
* 55% said that their operating capacity was affected by
employees quarantining due to a positive COVID test or
potential exposure.
* 42% reported that their operating capacity was affected
by other pandemic-related issues, such as employees who
lacked childcare.
Review has also reported on bright spots, such as a surge
in demand for residential awnings as homeowners took
on improvement projects with cash unspent on vacations
and eating out. But we learned that nothing in a global
pandemic is easy. Even where there was demand, supply
chain disruptions posed monumental challenges. According
to the survey:
* 70% of respondents reported domestic supplier delays.
* 55% reported foreign supplier delays.
* 37% reported difficulty locating alternative
domestic suppliers.

6 REVIEW BUYER'S GUIDE 2021

* 16% reported difficulty locating alternative foreign suppliers.
* 57% experienced delays in delivery/shipping to customers.
This is where the Buyer's Guide comes in. Sole sourcing has
its advantages in a typical business climate, but one of the lessons
of 2020 was that those advantages can disappear in a crisis. In
contrast, flexible supply networks minimize disruption. And
the crisis doesn't have to be a worldwide pandemic. Agile
businesses have the capabilities to respond quickly to events
large and small, near and far. In a global economy, the old saying
about when a butterfly flaps its wings is an apt metaphor. (To
read the full survey report, go to www.SpecialtyFabricsReview.
com and search for " COVID-19 survey. " )
As we prepare to send this 2021 Buyer's Guide to press,
the world is in a different place. Vaccinations are progressing
globally. In late March, jobless claims in the U.S. fell to the
lowest level since the start of the pandemic, and the Federal
Reserve has predicted the fastest pace in economic growth in
four decades by the end of 2021. At IFAI, we are planning to
see you in person in November in Nashville at IFAI Expo.
But it's not the time to let our guards down. Michele
Parmelee, Deloitte Global deputy CEO and chief people
and purpose officer, told Forbes in February that the crisis
exposed the shortcomings of business, government and
society. " Those faults must be addressed as lockdowns lift
and commerce cautiously resumes, " she said. " Repairing
the damage is critical, but the world cannot simply return
to the way things were. We have an opportunity to
reimagine work-and reshape the world-so that future
adversities are more predictable and manageable. "
We hope that this Buyer's Guide is a valuable tool that
helps you reimagine your work, diversify your supply chains,
and find the products and services you need, when you need
them. And whatever crisis is around the corner, Specialty Fabrics
Review is here to support you.
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Specialty Fabrics Review Buyer's Guide 2021

Table of Contents for the Digital Edition of Specialty Fabrics Review Buyer's Guide 2021
