Surprising Data Revealed in Thomas' Q1 2022 Sourcing Activity Snapshot – ThomasNet News
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Stephanie Nikolopoulos Apr 18, 2022
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A surprising category catapulted to the top of Thomas’ sourcing activity rankings during Q1 2022.
Thomas, a Xometry company, recently released the “Thomas Industrial Sourcing & Supply Chain Activity Snapshot,” a data-rich report that reveals the products as well as services most sourced for in Q1 2022 by its 1.4 million registered users in North America. Lumber, steel, and packaging in the automotive, aeronautics, and housing/construction categories have typically been top performers on Thomasnet.com and remain so in Q1 2022. As well, during the COVID-19 pandemic, medical equipment has been in the top 20 products buyers were sourcing.
Now, for only the second time ever since Thomas began producing its Snapshot Report, food product sourcing has reached the number 1 slot in the quarterly recap. Not only that, the data reveals that food products sourcing in Q1 2022 was 29% higher than the second most sourced product on Thomasnet.com — steel.
[Download the full report here.]
“The rapid rise in food products as the most-sourced category on Thomasnet.com reflects ongoing supply-chain disruptions, historic inflation and Russia’s war on Ukraine,” explains Thomas President Shawn Fitzgerald.
“Our data shows that producers, manufacturers and distributors within the broader food category are facing extreme sourcing pressure,” said Fitzgerald.
In fact, food product sourcing from February to March 2022 alone skyrocketed. The month-over-month sourcing data reveals:
Meanwhile, food prices climbed to their highest level in March 2022 since the FAO Food Price Index started tracking monthly fluctuations in 1990, according to a U.N. Food and Agriculture report.
Every day, engineers, buyers, and logistical companies conduct thousands of actions on Thomasnet.com. Fortune 1,000s to mid-markets and SMBs source suppliers and partners, download product specifications, and submit requests for proposals. Thomas reviews this first-party data to identify sourcing trends as well as opportunities in the industrial sector.
Armed with this real-world data, the “Thomas Industrial Sourcing & Supply Chain Activity Snapshot” for Q1 2022 includes:
Image Credit: fizkes / Shutterstock.com
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