Will We Ever Overcome the Global Chip Shortage? Here’s Why it’s Difficult
In this day and age, there are a variety of shortages happening around the world that really has become a cause for concern. Long-term, we aren’t really sure how exactly everything is going to pan out. Short term, though, it seems as if prices on all sorts of things from lumber to computers have absolutely skyrocketed.
Naturally, these shortages have been multiplied by the help of everything being shut down for COVID-19. If we can’t work, we can’t produce, right? However, with some industries already seeing an insane demand before pandemic conditions, things have only gotten worse in some cases. This is especially true in the world of computer chips.
Today, with the movement toward the digital world, computer chips are in just about everything. From computers themselves which have skyrocketed in popularity with everybody being stuck at home due to our previous quarantine to pickup trucks and gaming consoles, these chips are needed for all sorts of regular everyday items.
With that mix of factors in addition to natural disasters that have impacted chip production facilities, a trade war, and other factors, it seems as if there is a perfect storm for a global chip shortage. The part of the equation that isn’t great is that those behind production can’t necessarily just go and pump out a bunch of these things, either. Instead, the process to create more chips is rather complicated.
Down in the video below, we tune in with a piece from Wall Street Journal that gives us a little bit of insight on what exactly it is that has been going on in this realm and how we might be able to pull ourselves out of it. It’s going to take a lot of diligence and effort so folks in this industry will have their heads down, attempting to move forward.