German industry is continuing to reorganize its supply chains in order to reduce the risks of sudden stoppages, experts said on Tuesday.
More than half (58%) of the companies surveyed by the Munich-based ifo Institute had broadened their supply chains and found new suppliers last year, the researchers reported on Tuesday.
In the electronics industry, the figure was as high as 80%. Every third company plans to further expand its own supplier base.
"German industry's supply chain reorganization is still in full swing," ifo researcher Andreas Baur said on Monday, "despite the significant decline in supply chain disruptions and material bottlenecks last year."
According to the ifo survey 45% of industrial companies increased their stock levels last year. However, only 12% are planning further stock increases in the future.
Improved monitoring of supply chains was reported by 44% of companies. In the automotive industry, 34% of companies have started their own production of components which they had previously purchased from external suppliers.