U.S. Department of Commerce Holds Inaugural Supply Chain Summit
Sep 10, 2024
Department unveils first-of-its kind diagnostic supply chain risk assessment tool as Secretary Raimondo and Deputy Secretary Graves highlight how the Commerce Department is working to make America’s supply chains more resilient.
Today, the U.S. Department of Commerce, in collaboration with the Council on Foreign Relations (CFR), hosted the inaugural Supply Chain Summit. Bringing together leaders from government, industry, academia, and civil society, the Summit highlighted the work of the Biden-Harris Administration and industry to shift from reacting to global supply chain disruptions to proactively strengthening supply chain resilience.
“The Biden-Harris Administration knows securing American supply chains is vital to protecting our national security and enhancing our economic competitiveness,” said U.S. Secretary of Commerce Gina Raimondo. “By working with industry and taking an analytical, proactive approach, we are working to prevent the kind of supply chain failures that drove up costs for Americans during the pandemic and to create new economic opportunities for communities across the nation.”
“The actions we’re taking at the Commerce Department to secure our supply chains are possible because of the work we’ve done since day one to leverage our innovative expertise and capabilities to put risk assessment and resiliency at the forefront of our commercial engagement,” said Deputy Secretary of Commerce Don Graves. “We remember the dark days of COVID and what it felt like when medical devices, PPE, critical technologies, and everyday household appliances were out of reach. That’s why mitigating the impact was step one and turning reactive policies into proactive policies became our second chapter, which is precisely what was on display at the Supply Chain Summit.”
At the Summit, as part of the Biden-Harris Administration’s ongoing commitment to strengthening supply chains, the Department of Commerce’s Supply Chain Center unveiled a first-of-its kind diagnostic supply chain risk assessment tool—known as SCALE—which utilizes a comprehensive set of indicators to assess structural supply chain risk across the U.S. economy. The SCALE tool, coupled with the Industry and Analysis business unit’s deep industry expertise, will enable the U.S. Government to be more proactive and strategic in addressing supply chain risk. The tool compares risks across industries and provides an in-depth assessment of what is driving those risks. SCALE will help inform U.S. government decision-making, and can facilitate data-driven conversations with industry on risks, opportunities, and actions that can advance supply chain resilience.
“To be proactive, we need the right insights and ideas, and we need to make data more actionable,” said Assistant Secretary of Commerce for Industry and Analysis Grant Harris. “SCALE is a first-of-its-kind analytics tool because it revolutionizes our ability to understand systemic supply chain vulnerabilities that pose risks to U.S. economic and national security.”
The Summit featured notable speakers including, Secretary Raimondo, Deputy Secretary of Commerce Don Graves, Deputy Secretary of Energy David Turk, Deputy National Security Advisor Anne Neuberger, Deputy National Security Advisor Daleep Singh, Assistant Secretary of Commerce for Industry & Analysis Grant Harris, and Ambassador Michael Froman. These and other leaders addressed the critical role supply chain resilience plays in U.S. economic and national security, and the role of public-private cooperation in driving these efforts forward.
To further bolster global supply chain resilience, the U.S. Department of Commerce also announced seven new strategic partnerships with key stakeholders across industry and academia. These partnerships will help the Department promote the global competitiveness of U.S. industry, help businesses become more resilient, and make its supply chain work all the more innovative and impactful. The International Trade Administration also announced a competitive process to develop new data or analysis that can be used to expand the indicators of risk incorporated into the SCALE tool.
The Department of Commerce is committed to advancing the outcomes of the 2024 Supply Chain Summit. The Supply Chain Center and our Industry & Analysis team will continue to work closely with industry leaders, small businesses, and international partners to build more resilient, sustainable, and diverse supply chains.
For more information about the key outcomes of the 2024 Supply Chain Summit, please review the policy actions outlined in the Supply Chain Resilience Fact Sheet
Read the full report from the U.S. Department of Commerce: Read More
