A flurry of supply problems have slammed global manufacturing. Many companies are having trouble keeping up with demand, facing delays and cost increases, also pressure to increase prices to maintain profit margins.
Toyota Motor Corporation, American Honda Motor Company, Inc. and Samsung Electronics have all been hit. Toyota and Honda halted North American auto production. Toyota from petrochemical shortfalls due to the Texas storm in February which shut down plants and caused a supply-demand imbalance in plastics, and Honda due to a combination of port problems, chip shortages, pandemic-related problems and bad weather. Samsung said the severe chip shortage would hurt its smartphone business into the next quarter. One of the world’s largest chip makers, Samsung also idled two chip factories in Austin due to the weather.
MOSIMTEC simulation modeling using manufacturing simulation software helps with problems like these and brings your situation to life. When trouble occurs, or before it does, explore options virtually, review scenarios, rule out bad ideas, see what works best for you and develop/flesh out plans proactively. Your competitors are dealing with similar problems so take the opportunity to gain a competitive advantage on them, rather than vice versa.
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Read more here: https://www.wsj.com/articles/everywhere-you-look-the-global-supply-chain-is-a-mess-11616019081