Supply chain problems will stay until 2023: Intel

According to the latest report, the heads of companies such as Intel and Wayfair said that the supply chain problems in the US economy are improving for some companies, but long-term solutions may take more time.

Niraj Shah, CEO and co-founder of the online retailer Wayfair, said: “The most serious problem was last summer, but it is slowly recovering.”

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Moreover, the chip giant Intel has been at the center of the global semiconductor shortage storm. The company’s CEO Patrick Gelsinger predicts that the supply chain problems will continue until 2023, partly because the establishment of a new factory requires three years.

Kissinger said that Intel has allowed its supply chain to be integrated into Asia, leaving the company with no geographical balance to deal with disruptions. He said that the company has plans to build a large factory in the United States, which he calls a “giant base”, to move production closer to where the chips are needed.

Julie Sweet, chief executive of the consulting firm Accenture, said that “the supply chain will not shift overnight,” and the global transformation will take time to unfold. She added: “China will continue to be an important global supplier.”

(VIA)