Bipartisan legislation seeks to create system to monitor supply chains

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Bipartisan legislation recently introduced in the U.S. Senate would create a government-wide approach to monitoring, tracking and strengthening American supply chains.

The bill passed the U.S. House of Representatives last week.

The goal is to help anticipate and address future supply-chain disruptions before they happen, identify opportunities to grow manufacturing capacity, and reduce costs for consumers.

The Promoting Resilient Supply Chains Act would do six things:

The Department of Commerce would lead a government-wide supply chain resiliency and crisis response program to monitor supply-chain demand and find any gaps or vulnerabilities for critical goods.

The Department of Commerce would create an early warning supply-chain disruption system at that uses artificial intelligence and quantum hybrid computing to identify potential supply-chain shocks before they occur.

The capacity of domestic manufacturers would be evaluated as sources of critical goods, equipment or technology.

The government would work with the private sector to develop best practices to promote secure and resilient supply chains and help improve supply-chain resiliency.

A coordination group would work to develop crucial supply-chain resiliency policies and recommendations.

A capability assessment would be conducted to inform the executive branch and Congress on the current ability to address supply chains and describe shortfalls.