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Blog Global Chip Shortage

Update: Global Chip Shortage

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 Resignationtop tech hiring trends this year, and more!

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