The current economic situation has sent shockwaves through supply chains. We are seeing shortages of numerous technology products, hardware, and components. With the abundance of technology shortages, we have reached a fork in the road. Do we wait out the shortages, or do we push ahead?
And now is not the time to consult your Magic 8 Ball. In other words, don’t leave your business’s technology needs to chance.
Do you wait out the shortages, or do you push ahead? It depends on what your business is needing, how important that need is to your business, and can you afford to wait.
- Example 1: Operating a Windows 7 computer – there are major risks to your business using an unsupported machine. Replacement needs to be a priority.
- Example 2: Your phone system is continuously getting worse and isn’t reliable – a system crash will create an emergency replacement and with shortages that may be impossible. Plan ahead so that it never becomes an emergency that disrupts your customer service.
“It’s hard to say ‘wait to buy’ for anything because just about anything will be impacted,” said Glenn O’Donnell, vice president, research director at Forrester. Wait times could be upwards of “several months” and these timelines will “likely get worse,” so those who wait will be waiting even longer, he said.
Purchasing power often gives priority to larger companies with lengthy order sheets seeking bulk buys and this dynamic is playing out during the chip shortage. The same goes for purchasing through your trusted Technology Partner. We have relationships that allow us to have greater purchasing power than a single individual. As a preferred partner with many distributors, we are able to be creative and find products when you are unable.
This means we have the capacity to get what you need, but only as long as supplies last. Don’t delay in ordering the equipment you know your business needs.
More than one year into the crisis, the shortage continues to reverberate across industries and it is hard to anticipate when supply chains will level out. We don’t have the answer, but we can predict a few things.
3 Things We Can Predict
- Technology is and will continue to be critical to your business.
- Costs are increasing across the board for businesses.
- Supplies (and parts) are becoming increasingly difficult to find.
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