We’re now two years into a global chip shortage that has affected industries across the board. Most chiefly affected by this shortage have been the automotive and medical devices. Some experts are now contemplating how blockchain might help combat this shortage.
According to Forbes, “Through blockchain, you can share data quickly and securely in a way that’s also decentralized. While the potential for easing communication and supply chain tracking across parties is huge, many of these initial attempts fail. Companies seem to find that first-generation blockchain solutions can pose large challenges in data integration, scalability and overall performance.” In the past, cryptocurrency companies were seen as invincible to the inflation and setbacks that centralized banks experienced. But now, that’s no longer the case. These crypto firms and startups are now just as susceptible to inflation and stock fluctuation as the brick-and-mortar banks of yesterday experienced.
How can companies combat the chip shortage?
- Overhaul your vendor list to increase visibility and stop working with multiple partners.
- Practice measurable ROI tactics and document your successes
- Ensure that any new technology you implement is compatible with your current systems
And while you’re here, don’t forget to view all of APC’s thought-leadership pieces, which cover a range of informational articles for both employers and professionals on topics like resume help, a study on the Great Resignation, top tech hiring trends this year, and more!
Kristen Burgess is the Marketing Specialist at Alliance of Professionals & Consultants, Inc. She has five years’ experience in curating content for digital platforms, social media contributions, and supporting marketing campaigns and strategies. Before joining the APC wolfpack, she worked in digital marketing for software as a service, giving her keen insight into the types of professionals APC hires today. In addition, she likes to stay up-to-date on the most relevant trends within the technology industry through thought-provoking podcasts and newsletters while paying attention to industry leaders’ trends. In her spare time, she serves on the Management Team and helps craft communications for the Junior League of Durham and Orange Counties.
