USA17 Oct 2021 22:25
I was reading the minute (well it’s Sunday) from the USA Department of Commerce, International Trade Administration meeting June 2021, Advisory Committee on Supply Chain Competitiveness, held in Washington, DC.
One of the speakers at this meeting was Dr. Monica Gorman, who joined the Biden-Harris Administration in March 2021, as Deputy Assistant Secretary for Manufacturing at the US Department of Commerce.
Dr Gorman directs Commerce’s efforts to advance the global competitiveness of manufacturing industries through the development and execution of international trade and investment policies and promotion strategies. (Incidentally, her Doctorate Dissertation at Oxford was entitled, "The European Court of Justice and the Limits of Supranational Autonomy") (above my brain cell allocation I fear).
At this meeting she said she wanted to:-
“..talk mostly about the supply chain work that we are undertaking within the Administration…as many of you know, the President issued an Executive Order in February, which mandated four reports within 100 days on critical supply chains...And that order emphasized that the United States needs resilient, diverse, and secure supply chains in order to ensure our economic prosperity as well as our national security. I want to be very, very clear that the supply chain resiliency work is not about producing everything domestically. And in many cases, working to diversify international sources is the best solution that we identified. So we announced the formation of the Supply Chain Disruptions Task Force to tackle the near-term bottlenecks in four key industries, homebuilding and construction, transportation, agriculture and food industries, and the semiconductor industry”.
We will all know that Tom Brown has spoken of dealing with goods in transit, inventory finance, warehouse finance, receivables finance and collection, through successive links in extended supply chains, the test being how little cash you use in a supply chain. He has said that with digitalisation everything in the chain is becoming more transparent, leading to a revolution in logistics ie has it been sold, has it been made, where is it in the process, who controls it and that therefore transparent logistical analysis leads to better credit risk metrics, accountability etc. I therefore wrote to him asking if he felt this shows that the Biden administration looks on supply chains as a top priority, and did he feel this is a positive for Supply@ME/Tradeflow?
He kindly replied that the Biden Administration does seem very focused on supply chains, and, “yes, this should be positive for SYME”.
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