Top 3 Resource Shortage Causes (And What You Can Do About It)

You think you have it all planned out - your resources are smoothly flowing from one project to the next, with very little downtime in between. Then, you suddenly find yourself short on the resource you need to push your plan and project over the finish lline. Here are the top three causes of resource shortages and some simple solutions to help alleviate them.

1. Labor Shortage

Cause: Maybe part of your workforce has come down with the flu, you are in the midst of contract negotiations, or seasonal holidays are keeping people out. 

Solution: Identify trends of low work attendance and factor that in when mapping out your plan for the next year or quarter.

2. Broken Equipment

Cause: A major cog in your wheel breaks and will take a sufficient amount of time to be fixed or replaced. You might not have spare parts lying around! 

Solution: Outsource or add extra overtime if you have other similar pieces still working.

3. A Force Majeure

Cause: A major “force of God”. Think events like natural disasters, pandemics, accidents, etc. 

Solution: Budget and create a buffer account, if you can, to get you through the crisis. See if there are any opportunities to outsource or cut back production to a bare minimum just to get you through the tough time.

So now what?

Situations like these require the need to develop a plan that can temporarily accommodate unforeseen shortages. It can be a helpful business tactic to have possible scenario plans in your back pocket to help mitigate damage at a moments notice. That way, you are not caught off guard and scrambling, but able to quickly pivot and keep the momentum going! Fortune favors the prepared, so by having these plans at the ready, you can count on leaving your unprepared competition behind!