How will the global chip shortage affect your business?
For the past couple of years, the tech world has been struggling with a huge global chip shortage. But it’s not just tech businesses that are feeling the impact. So many of the things we use every day contain a chip. Laptops and desktops, sure. But also household appliances, even our cars. It’s hard to find an electric device without a chip. This shortage has the potential to disrupt our modern lives.
Did you know, it’s been ongoing since 2020 (ah, that year really was a gift, wasn’t it)? It started during the pandemic as production fell while demand went up, resulting in the chip shortage. Other events since have made it worse, including extreme weather, the Ukraine war and a factory fire. We’re told that increasing chip production isn’t easy. It can take years to build a new factory because of the unique production demands.
Of course, all of this is someone else’s problem. Let’s make it real to you – what does this chip shortage actually mean for your business? Essentially it means you need to plan ahead more. Some of the technology you need to run your business may be in short supply. As an example, getting large numbers of the same laptop might be difficult, compared to getting just 2 or 3. And some of the essential devices you rarely think about as they’re in the background, such as network switches, are currently much harder to get.
As you push your business towards increased growth it means planning ahead more than ever before. Industry experts expect the shortage to last into next year… and it could be even longer.
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Published with permission from Your Tech Updates.
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