Global Supply Crunch Expected to Worsen Before Getting Better

The video discusses the worsening supply chain issues, focusing on parts shortages and logistical challenges. Initially, the shortage was limited to semiconductor chips, but it has expanded to other components due to the spread of COVID-19. Logistics issues are exacerbated by high shipping rates and limited container space. To address these challenges, companies are encouraged to invest in big data, automation, and supplier diversification. Logistics companies are also offering standardized solutions to help smaller enterprises manage their supply chains more effectively.

What are the two main issues affecting the supply chain mentioned in the text?

How has the parts shortage evolved beyond semiconductor chips?

What factors are contributing to the rising shipping rates?

What strategies can companies implement to manage their supply chains better?

How might smaller firms be affected by the supply chain issues compared to larger companies?