The pandemic disrupted supply chains around the world and exposed many weaknesses, but one of the most glaring issues was in microchip manufacturing. Microchips are the engine that runs the modern world, from cars to mobile phones, computers, and electronics of all kinds, disruption to the production of microchips rippled through the world economy. Many industries that require advanced microchips in the manufacturing process experience delays and shortages. The shortages drove the price of goods up and contributed to rising worldwide inflationary pressures.
“What critical medical components are currently vulnerable to supply chain disruptions, but could be sourced domestically with some prior planning and coordination?”
After more than 70,000 years since homo-sapiens first emerged, more than 100 billion people have lived on earth. That is 100 billion minds seeking innovation and new ideas for millennium. Unique ideas are rarer than diamonds, and inventing something completely new is more difficult than ever.
Most people can address and resolve simple problems consciously. Complex problems, however, are more difficult to address. If we think about them too long, we could actually make the wrong decision. One of the reasons for this is humans have “bounded rationality.”