COMPANIES THAT WEATHERED SUPPLY CHAIN ISSUES, AND WHAT THEY DID BEST

The global supply chain issues have caused a damaging ripple effect extending to every shore on the planet. Traditional methods of manufacturing and moving goods have become less reliable, and companies that have prioritized lower costs from overseas hubs have struggled mightily. The companies that were wise enough to see the calamity coming, however, made the necessary changes to avoid catastrophe.

Here are some companies that weathered supply chain issues, and what they did to succeed.

APPLE

The tech industry took the biggest hit given the much-publicized global chip shortage. Every electronic gadget, from cars to smartphones, need microchips to operate. Despite these international issues however, Apple avoided some of the difficulties that plagued its competitors. It seems in this case that the sheer popularity (and marketing) of a top product from one of the world’s most influential consumer electronics companies was, at least in part, enough to overcome a once-in-a-generation challenge.

2. TESLA

Electric vehicles employ up to 3,000 microchips apiece, ultimately making electric car manufacturers some of the largest buyers of microchips. Accordingly, these companies were affected by the global chip shortage and were in some cases forced to halt production lines. But this did not affect Elon Musk and his pioneering company. In fact, Tesla reached a record high in deliveries in 2021. Accordingly, Musk avoided panic amidst the chip shortage largely by way of how he set up his company in the first place. Because it designs its own circuit boards, Tesla was able to adapt to the situation and rework computer codes to accommodate alternative chips. This helped he company to get around what would have been a supply crisis that could have all but halted the production line.

3. FORD AND GM

Two of the biggest U.S. car manufacturers, Ford and GM, have also felt the effects of the supply chain crisis. To skilfully maneuver around the chip shortage however, they are making plans to set up partnerships to get into the semiconductor business with each other. Evidently, even the giants of industry know the importance of alliances during hard times.