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The Sony PlayStation is a great example of how this crisis has affected sales . Sony reported that they were only able to sell 11.5 million consoles last year , down from a previous estimate of 14.8 million . The chip shortage has meant that many businesses have had to downsize their manufacturing operations as companies such as Sony cannot produce the number of products needed .
As a Frost & Sullivan whitepaper shows , in the modern world , engaging experiences with customers is vital to all manufacturers , and uncommunicated delays and significant reprioritization have the potential to lure a customer to a competitor . Like Sony ’ s case , it could mean significant revenue getting lost due to this chip shortage – and this is the time when every penny counts . A business can make sure that the supply chain is as resilient and stable as possible through supply chain visibility as it is the best component to ensure that ‘ things ’ run smoothly .
Tackling the disjointed supply chain problem
The challenges on supply chains stem from the fact that nowadays , too many organizations rely upon disjointed supply chain processes running on multiple homegrown , outdated and siloed systems . This is in tandem with several manual processes that don ’ t work well with each other , from demand planning to supply network risk management to limiting source and finished goods inventory control , visibility , and timely deliveries to customers .
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