Biden lies about inflation.....again

[GMDino]

(05-15-2024, 10:41 AM)Mike M (the other one) Wrote: If he would focus on resolving Supply chain problems, it will come down.

What more should he do? 

https://www.forbes.com/sites/katevitasek/2024/02/02/president-bidens-supply-chain-resilience-executive-order-signals-work-for-us-businesses/?sh=2613515e3d0a

Quote:

Quote:President Biden’s Supply Chain Resilience Executive Order Signals Work For U.S. Businesses

[/url]Kate Vitasek
Senior Contributor

I cover the art, science and practice of collaborative relationships
Follow


[url=https://www.forbes.com/sites/katevitasek/2024/02/02/president-bidens-supply-chain-resilience-executive-order-signals-work-for-us-businesses/?sh=2613515e3d0a#open-web-0]0

Feb 2, 2024,07:00am EST







President Biden's Executive Order targeted at supply chain resiliency will prove key for countless ... [+]
AFP VIA GETTY IMAGES
President Biden’s Executive Order from the White House on supply chain resiliency signifies an important turning point for U.S. businesses, regarding supply chain management.

The plan, revealed at the inaugural meeting of the Council On Supply Chain Resilience on November 29, 2023, encompasses more than 30 targeted actions. The briefing room statement shared the goal is to “help Americans get the products they need when they need them, enable reliable deliveries for businesses, strengthen our agriculture and food systems and support good-paying, union jobs here at home.”

The November Executive Order is a follow-up to Biden’s original Executive Order On American Supply Chains from back in February of 2021, calling for a review of America’s supply chains.

A key theme across many of the action items?

Collaboration will be essential for success.

Collaboration begins right at the top with the creation of a Council On Supply Chain Resilience which will be co-chaired by the National Security Advisor and National Economic Advisor and will include members from over 20 other government agencies. Biden chartered the Council to devise a long-term strategy for resilient supply chains.
But what will be the impact?

Below, three supply chain experts weigh in on how U.S. businesses will be affected:

Integrating Advanced Data Solutions
A key theme stemming from the Executive Order is the creation of new, cross-governmental supply chain data-sharing capabilities. The briefing statement shared, “The Administration has developed several cross-government partnerships to improve supply chain monitoring and strategy.”

One example is a new, first-of-its-kind Supply Chain Center. Hosted by the Department of Commerce, the center will be responsible for integrating industry expertise and data analytics to develop innovative supply chain risk assessment tools.

Stephany Lapierre, CEO of TealBook, believes this is a good move for the U.S.

Said Lapierre, ”Accurate supplier data is the key to unlocking a world of new market opportunities. Reliable access to a single source of truth enables agility, allowing procurement leaders to identify alternative suppliers in hours — not weeks. When integrated with artificial intelligence (AI) or machine learning (ML), automated supplier data platforms enable superior analytics, suggesting opportunities for cost improvement and efficiency adjustments.”

At the heart of these initiatives is a call for increased visibility and real-time accuracy in supplier data. Supply chain automation and access to a reliable, single source of truth enable quick identification of alternative suppliers, cost improvement opportunities and efficiency adjustments.

Lapierre admits that "Most enterprises simply aren’t prepared for the long-term impacts these actions will have on their supply chain.” However she is quick to add the good news is that supply chain leaders need not wait to take action. “Today, there are many effective resources and tools available for companies that manage their supply chain data and risks.”

Domestic Investment In Critical Areas
A second key theme is a made-in-America them, with the Executive Order calling for over $1 billion in government investments. One of those investments is the $275 million allocated for the Advanced Energy Manufacturing and Recycling Grant Program.
Chris Adderton, senior VP for the Council of Supply Chain Management Professionals, weighed in on the importance of this investment in a recent discussion — noted Adderton:

“The U.S. investment in infrastructure to enable a more efficient supply chain was long overdue. Whether you believe the just-in-time global supply chain will recover or you are pro-nearshoring and made-in-America, the $1 billion-plus investment in the U.S. supply chain is a worthwhile investment with a good return on investment for both the public and private markets.”

Deepening Engagement With Allies
While made-in-America is becoming a fashionable trend, the Executive Order hints that global supply chains are far from dead. Of particular interest is that 12 out of the 30 action items outlined in the Executive Order are targeted towards “deepening engagement with allies and partners to strengthen global supply chains.”

Ted Stank, a University of Tennessee (UT) Professor and co-director of UT’s Global Supply Chain Institute, believes Biden’s emphasis on global collaboration makes sense.

“The U.S. is heavily reliant on a few foreign suppliers in many industries which makes the U.S. economy more susceptible to foreign economic shocks. Strengthening collaboration with allies, combined with the emphasis on supply chain data tracking, is key to stable supply chains.”

Which industries pose the most risk?

The U.S. Federal Reserve Bank reports the five industries that rely most heavily on foreign value added in their exports were Coke and refined petroleum (25.9% of the exports’ value added was produced abroad); motor vehicles, tractor-trailers and semitrailers (23.7%); machinery and equipment (18.4%); basic metals (16.8%); and electrical equipment (16.5%).

Looking Ahead
Overall Biden’s Executive Order sets a clear policy direction focused on supply chain strength. The wild card for its success relies heavily on the capabilities and collaboration of a multitude of public agencies. When you consider Biden’s first Executive Order on improving U.S. supply chains was nearly two years ago, it hints at the fact that progress will likely be slow.

Again, it seems people what to nationalize businesses so the POTUS can make unilateral changes? Then he would be responsible for everything.