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The phrase "supply shortages" is correct and usable in written English
It can be used when discussing a lack of available goods or resources in a market or supply chain. Example: "The recent supply shortages have led to increased prices for essential goods."
Exact(59)
Capacity gluts have turned into supply shortages.
Producers say they are hamstrung by supply shortages.
In addition, inappropriate prescribing patterns lead to supply shortages.
"We've got supply shortages, and they are getting worse.
These regions also saw the greatest supply shortages.
We've got supply shortages, but area schools and local communities have really helped.
And if prices do drop, that will exacerbate the problem of supply shortages and long lines.
But building power plants is a slow process, so supply shortages can last several years.
Elsewhere on land, there were signs of supply shortages and bottlenecks.
In fact, our agricultural products business alleviates supply shortages," he said.
Traders said the Grangemouth dispute had led to new fears of supply shortages.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com