Supply Chain Fluctuation Forecasting Act

Supply Chain Fluctuation Forecasting Act

This bill addresses supply chain forecasting for the Department of Defense (DOD).

Under the bill, DOD must specify methods and processes to track and reduce fluctuations in supply chain forecasting and demand requirements.

DOD must also implement policies to encourage predictable demand requirements for the following items:

• clothing and the materials and components thereof;
• tents (and the structural components thereof), tarpaulins, or covers;
• any item of individual equipment manufactured from or containing specified fibers, yarns, fabrics, or materials; and
• hand or measuring tools.

Bill 117 HR 6196, also known as the Supply Chain Fluctuation Forecasting Act, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to address the challenges faced by businesses and consumers due to fluctuations in the supply chain.

The bill aims to improve the forecasting of supply chain fluctuations by requiring the Department of Commerce to establish a program to provide grants to eligible entities for the development and implementation of supply chain forecasting tools. These tools will help businesses better anticipate and prepare for disruptions in the supply chain, such as natural disasters, trade disputes, or other unforeseen events.

Additionally, the bill requires the Department of Commerce to conduct a study on the impact of supply chain disruptions on the US economy and national security. This study will help policymakers better understand the risks and vulnerabilities in the supply chain and develop strategies to mitigate them. Overall, the Supply Chain Fluctuation Forecasting Act seeks to enhance the resilience of the US supply chain and improve the ability of businesses to adapt to changing market conditions. By investing in forecasting tools and conducting research on supply chain disruptions, this bill aims to strengthen the competitiveness of American businesses and protect consumers from the negative impacts of supply chain disruptions.