The Chip Shortage Explained: How It Happened and What It Means for Your Business
Have you heard about the global chip shortage? It’s a serious problem, affecting everything from cars to iPhones to the equipment you need to keep your business running smoothly. But unless you follow tech news on your own time, you may not have heard about this problem or know what the ramifications might be at work. Here’s what you need to know about the global chip shortage, how we got here, and what your business needs to do to stay equipped. The Chip Shortage: What Is It? The global chip shortage is a supply chain problem caused by a lack of sufficient supply of the silicon microchips that power today’s electronics. These chips go by a variety of names: semiconductors, semiconductor chips, computer chips, and so on. And right now, manufacturers need more of these chips than the chipmakers can make. These chips are in nearly everything with a computing component, from household appliances to cars to consumer electronics. As a rule of thumb, if it has a screen, it has one or more ch...