It has been well noted that the global shortage of semiconductor manufacturing is having a profound effect on electronic production which reaches into many different electronic sectors. Many believe the worldwide chip shortage issue will not ease until 2023, and it is set to get worse over the next 18 months as longer lead times and higher prices kick in due to major disruption of supply lines and production capability. This has triggered the need for new strategies from Governments and companies to counter the situation.
Turning to Engineering as a solution
A recent article in Harvard Business Review highlighted that many manufacturing companies are turning to their engineering teams to find solutions to take up the shortfall in available chips. They state their experts are adjusting the way the company designs its products, in order to more rapidly and effectively mitigate supply chain shocks. Companies with more resilient product portfolios can minimize their exposure to the disruption and makes it easier to quickly respond and adjust their products, if needed.
However to successfully execute strategies such as building more software into components or replacing premium components with standard, reliable and available chips requires highly sought-after skilled Engineering expertise.
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