The European Medicines Agency (EMA) has developed the European Shortages Monitoring Platform (ESMP) in accordance with Regulation (EU) 2022/123 to systematically collect and analyse data regarding medicine supply, demand, and availability across the EU and EEA. The document, presented in the form of frequently asked questions, delineates the legal basis, definitions, and operational requirements concerning shortage reporting. Marketing authorisation holders (MAHs) are required to report all potential and actual shortages of centrally authorised products, with a defined transition period that commenced in November 2024 and became mandatory from 2 February 2025. The ESMP has been designed to function across three distinct phases—routine monitoring during normal circumstances, crisis management during public health emergencies or major events, and MSSG‐led preparedness reporting—ensuring that reporting protocols are adapted to the specific context of the shortage event. Furthermore, the platform is integrated with other EMA systems, such as IRIS, PMS, OMS, and RMS, to facilitate the pre-population of product information, data validation, and efficient reporting processes while upholding data confidentiality and accuracy. The comprehensive guidance provided in the document clearly outlines procedural obligations, reporting timelines, and data update requirements, thereby reinforcing the EMA’s commitment to safeguarding public health through robust, harmonised, and timely monitoring of medicine shortages.