UK-based plastic and rubber product suppliers have reduced their delivery lead time delays caused by COVID-19 by more than half, according to new data published by software company Unleashed.
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UK’s plastics industry cuts lead times in half since lockdown
The Product Lead Time Index used data from its inventory management software to track how product fulfilment has changed since the start of the pandemic.
According to the index, plastic and rubber products were one of the top five industries to slash its lead times since the most challenging phase of the pandemic, dropping by 52.8% between 2020/21 and 2021/22. It was one of the most affected sectors during the peak of the pandemic, with average delivery lead times in 2020/2021 growing by 93.7% since before the pandemic struck.
The analysis of more than 2,500 businesses and 25 different sub-sectors shows which experienced the most severe shortages during the crisis and which recovered fastest as it subsided.
Lead time is defined as the amount of time between when a purchase order is placed to replenish products and when the order is received in the warehouse. These times can vary between suppliers, where typically the more suppliers involved in the chain, the longer the lead time is likely to be.
Commenting on the findings, Stephen Jones, Regional Manager, UK and EMEA at Unleashed, said: “Global supply chains are complex, and while the market has been more uncertain than usual, our data suggests that suppliers are working hard to build resilience. In fact, for many, the crises have only strengthened their resolve. Given how much lead times have dropped in some sub-sectors, including across plastics and rubber products, their efforts are clearly paying off.
“Keeping a tight rein on inventory is essential at any time but particularly during periods of disruption. When product lead times are fluctuating, the right technology can quickly show you the actual vs expected lead times which allows you to manage customer expectations, or look for alternative suppliers who can deliver faster.”