$107M initiative set to strengthen supply chains
As part of its JobMaker plan, the Government has announced a $107.2 million Supply Chain Resilience Initiative that will position Australia to respond to future supply chain disruptions.
This initiative will also address vulnerabilities in domestic and international supply chains for identified critical products, the outcomes of which will be published in Sovereign Manufacturing Capability Plans.
A major goal of the Initiative lies in building a comprehensive understanding of critical supply chains. Working with the industry, the government will also identify the essential goods and services critical to Australians at times of crisis, map industry supply chains and Australia’s manufacturing capabilities and evaluate supply chain resilience under normal circumstances and in possible crisis situations.
With the combined efforts of the industry, the government will also identify supply options for critical products to address vulnerabilities in domestic and international supply chains.
This could lead in long-term international supply contracting, domestic manufacturing and broader activities to promote better information sharing and collaboration between industry and governments.
Businesses may access the funding starting 1 July, 2021. To be eligible, projects would need to demonstrate they address a supply chain vulnerability for a critical product or input identified in a Sovereign Manufacturing Capability Plan. Additionally, they would also need to result in measurable strengthening of the supply chain.
Further guidelines on eligibility and merit criteria will be made available in the first half of 2021.
Source: Australian Government