inadequacy

1. The quality or condition of being inadequate.
2. An instance of being inadequate; a failing or lack.

Loss or expense that is incurred by virtue of lost or reduced capacity, technological obsolescence, and/or abnormal wear and tear and that requires premature replacement or abandonment.

noun

1. The condition or state of being incapable of accomplishing or effecting anything: helplessness, impotence, incapability, ineffectiveness, ineffectuality, ineffectualness, inefficacy, powerlessness, uselessness. See affect/ineffectiveness, strong/weak.
2. The condition or fact of being deficient: defect, deficiency, deficit, insufficiency, lack, paucity, poverty, scantiness, scantness, scarceness, scarcity, shortage, shortcoming, shortfall, underage¹. See excess/insufficiency/enough.

Definition: shortage, defect, inability
Antonyms: ability, abundance, adequacy, enough, plenty, sufficiency

The noun has 3 meanings:

Meaning #1: lack of an adequate quantity or number
  Synonyms: insufficiency, deficiency
  Antonym: adequacy (meaning #2)

Meaning #2: a lack of competence
  Synonym: insufficiency

Meaning #3: unsatisfactoriness by virtue of being inadequate
  Synonym: inadequateness
  Antonym: adequacy (meaning #1)