For the past couple of years, the tech world has been struggling with a huge shortage of chips, however, it is not just tech businesses that are feeling the impact. There are so many things that we use every day that contain a chip. Laptops and desktops are obvious, but also household appliances and even cars. It is hard to find an electric device without a chip these days.  This shortage has the potential to disrupt our modern lives.

This has been going on since 2020 (what a great year that was!) It started during the pandemic as production fell while demand went up. Other events since have also made it worse, including extreme weather, the war in Ukraine and a factory fire!

We are told that increasing chip production isn’t as easy as it sounds. It can take years to build a new factory due to the unique production demands.

Of course, all of this is someone else’s problem. Let’s make it real to you – what does this 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. For example – getting a large number of the same laptop will be more difficult, compared to getting just 2 or 3. Furthermore, some of the essential devices you may rarely think about as they are in the background, such as network switches, are currently much harder to get.

As you push your business towards increased growth, it may mean planning ahead more than ever before. Industry experts expect the shortage to last for a couple more years!

If you would like any advice or guidance on this subject then please get in touch. We would be happy to help!

Published with permission from Your Tech Updates.