Supply chain shortages have globally impacted economies by restricting the flow of resources and production, limiting the availability of labor.
The COVID-19 pandemic altered almost everything we once knew as normal, leaving us to adjust. It led to shutdowns, job losses, lifestyle changes, increased demand, and a shortage in supply. As time progresses, we are continuously seeing the varying aspects of life that have been affected by the supply chain issues that emerged during the ongoing pandemic. Supply chain shortages have limited the availability of labor, restricted the flow of resources and production, globally impacting economies, affecting each point on the supply chain. The current supply chain shortages have negatively impacted many industries, including the HVAC industry, resulting in material, parts, and equipment shortages. As the HVAC industry continues to experience shortages in product, labor, and increased service cost, building owners and homeowners consequently feel the negative impacts.
Product Shortages
As with many supply chains, the COVID-19 pandemic has had a negative impact on the HVAC industry. Shortages for all sorts of HVAC parts have been reported, including microchips, semiconductors, compressors, and motors, as well as raw materials like copper, steel, aluminum, and plastic. Many HVAC business owners are struggling to meet the increased demand of their customers with the limited supply of products. However, understanding the cause of the shortages, HVAC companies and customers have adapted well during these difficult times. HVAC companies have been diversifying their suppliers, strategically purchasing inventory, and maintaining strong communication between their suppliers and customers.
Labor Shortages
Labor shortages are seen amongst many industries as businesses struggle to find employees. The HVAC industry has dealt with labor shortages before, but the ongoing pandemic has worsened the problem, especially during the ongoing pandemic where HVAC contractors are steadily trying to keep their customers and employees safe while remaining profitable. The HVAC industry’s labor shortage has resulted in increased repair time and service costs.
Price Increases
Shortages of HVAC components have caused significant price increases within the HVAC industry, resulting in rising inflationary costs in labor and parts. With a high demand for workers, companies have to increase their wages to attract and retain employees by offering more money. So, companies are paying more for products and labor, resulting in increased service costs.
Crockett Facilities Can Help!
Crockett Facilities Services, Inc. (CFSI) is committed to helping building owners, property managers, engineers, and facility professionals navigate the post-COVID-19 environment. We can develop a cost-effective, customized program for your building that will mitigate the potential health risks of COVID-19. Click Here to Request a Quote!
To learn more about the importance of reopening your building safely, don’t hesitate to get in touch with us at 202.600.2787 or sales@crockett-facilities.com. Our PM contract customers receive priority treatment with 24/7 emergency service in Maryland, Virginia, and Washington, DC. Follow us on Facebook, Twitter, Linked In, and Pinterest!