Some manufacturers have had to scale back production due to the global microchip shortage.
Supply chain shortages have hit virtually every industry, but it's the microchip shortage that's having the biggest impact. Experts estimate the global chip shortage cost the U.S. economy $240 billion in 2021.
At Optimal Design near Chicago, a chip shortage is causing big headaches. The company engineers and builds everything from virtual reality headsets to the brains of barbecue grills. Every product needs a chip to work. When the pandemic shut down the major chip production plants in Asia and ports got overwhelmed, the ripple effect was felt worldwide.
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