Recent business trends have focused on worldwide product shortages and extreme problems with the global supply chain.
1. Please provide details about the history and origins of the current global supply chain problem. What is causing global supply shortages? Which specific industries have been impacted disproportionately? Which specific products are in low supply? In addition, what other logistical issues are contributing to this on-going problem? In terms of the market, detail at least three undesirable outcomes of supply chain shortages. Finally, what needs to happen to make supply shortages ease? 50 points
2. Assume that you are an advisor for a local small business association, detail three strategies to help small businesses (especially retail) relieve this problem? Assuming that the global supply chain doesn’t improve, what other things can businesses do to help fulfill consumer shopping and business supply chain needs?
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