I have a tiny little side business making an electronic gadget. I've had to get good at substitution. Granted this is easier for me, I don't have to go through an engineering change order process, and can usually trust my gut on what's going to work. Still, it's a PITA.
Yeah it's a pain for those in the business. Thankfully it's just a hobby for me, but I've talked to professionals who were on their fourth board revision due to substitutions... can't be fun.
I feel like there’s a great opportunity here for electronic engineers with a good eye for supply chain dynamics to consult into all manner of industrial and consumer markets to assist with strategic re-engineering of their products.
Same. When looking at DigiKey and Mouser they've got confirmed dates well into 2023 for loads of parts.
Here's a random example I was looking at yesterday[1]. Sure they have a few in stock, but once those are gone the next batch is due next summer.
edit: another example[2], no stock and 39k due next summer.
[1]: https://www.mouser.com/ProductDetail/Texas-Instruments/TLC59...
[2]: https://www.mouser.com/ProductDetail/Texas-Instruments/TLV62...