What does the global chip shortage mean for your business?

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Here’s how to reduce the impact on your business

The tech world has struggled with a huge chip shortage for the past couple of years.

But it’s not just tech businesses that are feeling the impact.

So many things we use daily contain a chip—laptops and desktops, of course. 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 going on since 2020 (that year was a gift, wasn’t it)?

It started during the pandemic as production fell while demand went up.

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. The unique production demands can take years to build a new factory.

Of course, all of this is someone else’s problem. So let’s make it real to you – what does this mean for your business?

It means you need to plan more.

Some of the technology you need to run your business may be in short supply.

For 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, such as network switches, are currently much harder to get as they’re in the background.

As you push your business towards increased growth, it means planning more than ever.

Industry experts expect the shortage to last into next year… and it could be even longer.

Would you like us to check your growth plans, so we can advise what might need to be ordered and when? Get in touch.

Published with permission from Your Tech Updates.