There was an indepth article around 2 weeks ago in The Atlantic that discussed various shortages being experienced in the United States.
It was an interesting article and detailed the major issues and how they have somewhat combined in some cases to exacerbate problems companies were/are experiencing.
Of course it starts about how China was hit first and production lines abruptly stopped in that country. Some U.S. companies were able to quickly move to other suppliers in other countries such as Vietnam, India, etc. But then those countries were hit and had to close their factories. Just as we were facing shutdowns here, most of the countries abroad were still struggling with shutdowns. There were instances in which some companies had inventory in warehouses, but it quickly dwindled.
Then there were problems with shipping. I don't remember all the specifics but shipping companies needed to provide schedules for their employees on those ships and provide time off in their countries before doing another round of ocean travel. Those countries then had quarantines so that the employees had to quarantine for longer periods of time than their break would have been without the pandemic. That resulted in numerous countries not being able to drive ship traffic before the virus and produced a back log of being able to ship products. In fact, it really didn't matter, most of them faced quarantine regulations no matter what country they would select to spend their required downtime before another trip.
In the U.S., companies might receive products but then there was a shortage of packaging supplies such as cardboard, plastic, etc. So they had the product, but not enough materials for packaging.
Add to those problems that many factories faced having to operate with lower numbers of employees due to having contracted covid-19 or were in quarantine. In some cases in order to space employees out, they had to reduce the number of employees in a certain area.
They also discussed the problem with staffing at warehouses. There were truckers that were able to deliver their product, but since warehouses were short on employees, there were long lines of trucks to offload their load due to the warehouses having fewer employees.
Then add severe weather conditions, hurricanes and fires into the mix and some problems were even further exacerbated.
It was a revealing article that the problems were multi-faceted and while getting better they are still not completely resolved. So I don't think the total reason for shortages is due to people hoarding.
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