Snapshot Survey Results | Supply Chain Issues
In the February 2022 Snapshot Survey, we asked contracting business owners how they’ve experienced and responded to supply chain issues over the past two years to help you incorporate best practice strategies into your company planning. Here’s one survey question and its results from the “Supply Chain Issues” summary report, which will be available in its entirety to EGIA members on 3/18/22.
Which of the following supply chain issues has your company experienced since 2020? (Select all that apply)
Since the beginning of the COVID-19 pandemic, supply chain issues have slowed the manufacturing and delivery of equipment and materials that are vital to the success of contracting businesses. According to 90% of the contractors who took our survey, equipment shortages (including furnaces, boilers, and air conditioners) was the highest reported supply chain issue in North America.
Only 29% of companies surveyed said they would invest in new software, such as a field management tool or accounting program, to make the task of scaling their business more successful. This either means that most companies already have the right software or they do not find the value in software tools. Contractors should consider investing in software, as technology often makes it easier and less expensive to scale a business, with less demand on labor resources.
Here’s what an HVAC contractor from Illinois said in the survey:
“Supply chain issues since 2020 have greatly affected the type of equipment we offer customers. In some cases, we’ve had to offer less efficient models. In others, we’ve had to offer a completely different manufacturer. In the worst-case scenarios, we’ve lost customers to competitors who were able to offer the comparable model of a different brand.”
