What is a Shortage?

A shortage is when the quantity of goods is less than expected or required. It is a difference between what is available and what is needed or ordered. Shortages can occur due to various reasons, such as a delay in delivery, incorrect stock levels, or unexpected demand.

When a shortage occurs, the impacted party may need to take action, such as withdrawing or returning the goods or reordering them. Shortages can be costly and cause disruptions in supply chains, so it’s important to have measures in place to minimise the likelihood of shortages and address them quickly if they do occur.