Connect with us

Technology

The US government releases first-ever quadrennial supply chain review

Published

on

TAIPEI, Dec. 22, 2024 /PRNewswire/ — According to the news report from the technology-focused media DIGITIMES Asia, The White House issued what it describes as the inaugural Quadrennial Supply Chain Review on December 19, 2024, which the incumbent Biden-Harris Administration says represents its efforts to strengthen economic security and build resilient supply chains.

According to the administration, the review outlines government initiatives aimed at addressing supply chain risks, bottlenecks, and efficiency. The White House suggests these efforts are contributing to job protection and community development across the country.

Manufacturing initiatives and supply chain perspectives

US Secretary of Commerce Gina Raimondo stated, “Strengthening supply chains and revitalizing America’s position in semiconductor manufacturing has been a cornerstone of the Biden-Harris Administration’s agenda from the very beginning.”

She added, “This review underscores our commitment to partnering with industry to proactively address supply chain challenges, develop innovative solutions, mitigate future disruptions, and bring back American manufacturing. By working together, we are bolstering economic and national security and building supply chains that can meet the demands of tomorrow—particularly in critical sectors like information and communications technology and semiconductors.”

SCALE tool introduction

The Department of Commerce’s (DOC) Supply Chain Center has introduced its SCALE supply chain risk assessment tool, presenting initial findings in the Review.

According to the DOC, SCALE aims to enhance the government’s capability to assess resilience and vulnerability, using more than forty indicators to evaluate current or prospective risk across the US goods economy.

The department suggests this tool will strengthen its industry collaboration efforts around supply chain risk, noting that building resilience requires coordination between public and private sectors.

Assessment findings and implications

The Review’s assessment indicates most US goods industries show exposure to structural supply chain risks, with nearly every industry reportedly scoring high in at least one risk indicator. According to the analysis, the US goods economy shows significant interdependence, with more than 86% of industries reportedly depending on inputs from other industries classified as medium-high or high-risk.

The review suggests US goods industries demonstrate limited import diversification, reporting that nearly 38% of industries rely heavily on single-country-sourced products, with over half showing minimal source-country diversification for critical inputs. The assessment identifies electronics, chemicals, and transportation among the highest-risk industries, citing high import levels from certain countries, including China, as potential risk factors.

Strategic initiatives and industry developments

The Review highlights several DOC programs reportedly aimed at strengthening supply chains, particularly in ICT and semiconductor sectors, including the CHIPS and Science Act, BEAD Program, Tech Hubs program, and Public Wireless Supply Chain Innovation Fund.

The administration reports that private investment announcements in semiconductor and electronics sectors have reached over US$450 billion since its term began, which it attributes largely to public investment initiatives.

Current challenges and industry perspectives

According to the Congressional Research Service, over 90% of advanced semiconductor production is concentrated in East Asia, with TSMC reportedly accounting for more than half of this production.

The Semiconductor Industry Association (SIA) reports that US semiconductor manufacturing market share declined from 37% in 1990 to 12% in 2020. The CHIPS Act, allocating US$52 billion, aims to address this trend, according to administration officials.

McKinsey & Company analysis suggests supply chain diversification could potentially reduce reliance on high-risk regions by 25%, though the firm notes this would require significant coordination and investment. Experts from the Peterson Institute for International Economics (PIIE) emphasize that successful reshoring efforts would likely require coordinated policies, infrastructure development, and workforce training programs.

The DOC indicates it will continue to develop policies aimed at supply chain resilience, though the long-term impact of these initiatives remains to be seen.

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-us-government-releases-first-ever-quadrennial-supply-chain-review-302338136.html

SOURCE DIGITIMES ASIA

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Virtusa Earns 2024 Great Place to Work® Certification™ for Third Consecutive Year

Published

on

By

SOUTHBOROUGH, Mass., Dec. 23, 2024 /PRNewswire/ — Virtusa Corporation, a global leader in digital business strategy, digital engineering, and IT services, is proud to announce its 2024 Great Place to Work® Certification™ for the third consecutive year. This recognition spans seven countries – India, USA, Canada, UK, UAE, Australia, and Singapore – and underscores Virtusa’s dedication to fostering a High-Trust, High-Performance workplace culture globally.

The certification is based on rigorous employee feedback, with Virtusa achieving an impressive Trust Index™ score of 79% and an Employee Net Promoter Score (eNPS) of 73%. Notably, 81% of employees agreed with the statement, “Taking everything into account, I would say this is a great place to work.”

Key areas of improvement over the past year include professional development, equal treatment, making a difference, and creating a welcoming environment.

“We are incredibly honored to receive the Great Place to Work® Certification™ for the third consecutive year,” said Lori Mullane, Chief People Officer at Virtusa. “This recognition reflects our unwavering commitment to creating an inclusive and empowering workplace where employees feel valued, supported, and inspired to achieve their best. Investing in a culture of trust, collaboration, and growth enables our teams to deliver exceptional value to our clients and communities.”

Virtusa’s commitment to professional development, diversity, and well-being reflects its efforts to build a supportive and inclusive environment. With industry-leading initiatives like Engineering IQ for career progression, robust upskilling programs, and a focus on belonging and fairness, Virtusa has created a culture where employees can thrive.

The Certification is a testament to Virtusa’s leadership in workplace culture, which supports over 30,000 employees globally. As the company continues to grow, its mission remains steadfast in providing a High-Trust, High-Performance environment that drives innovation, collaboration, and employee satisfaction.

For more information about Virtusa’s workplace culture and career opportunities, visit https://www.virtusa.com/careers.

About Great Place to Work®
Backed by 30 years of data, Great Place To Work is the global authority on workplace culture. Through its proprietary For All™ Model and Trust Index Survey, it gives organizations the recognition and tools to create a consistently positive employee experience. Its mission is to help every place become a great place to work for all, driving business growth, improving lives, and empowering communities. Through globally recognized and coveted Great Place To Work Certification and highly competitive Best Workplaces™ Lists, Great Place To Work enables employers to attract and retain talent, benchmark company culture, and increase revenue. Its platform enables leaders to truly capture, analyze and understand the experience of every employee, and compare outcomes with data collected from more than 100 million employees in 150 countries worldwide.

About Virtusa
Virtusa Corporation provides digital engineering and technology services and solutions for Forbes Global 2000 companies across industries, including financial services, healthcare, telecommunications, media, manufacturing, and technology. With a foundation in digital engineering, Virtusa empowers enterprises to navigate digital transformation, driving operational efficiency and measurable outcomes. Leveraging its Engineering First approach, Virtusa partners with organizations to tackle complex challenges, delivering solutions that ensure resilience and competitive advantage.

Virtusa is a registered trademark of Virtusa Corporation. All other company and brand names may be trademarks or service marks of their respective holders.

Media Contact: 
Paul Lesinski
Edelman
(971) 226-5299 
paul.lesinski@edelman.com 

Logo – https://mma.prnewswire.com/media/1956449/virtusa_logo_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/virtusa-earns-2024-great-place-to-work-certification-for-third-consecutive-year-302337841.html

Continue Reading

Technology

DogeRide Unleashes a New Era of Pet-Friendly Ridesharing in Denver

Published

on

By

DogeRide, Denver’s newest and most innovative ridesharing service, is proud to announce the official launch of its pet-friendly hailing app in Denver, CO Metro Area.

DENVER, Dec. 23, 2024 /PRNewswire-PRWeb/ — DogeRide, Denver’s newest and most innovative ridesharing service, is proud to announce the official launch of its pet-friendly hailing app.

“We wanted to create a ridesharing service that embraces that spirit, providing a solution for dog lovers who want their furry companions to be part of their daily lives. DogeRide is more than a rideshare; it’s a celebration of Denver’s dog-friendly culture.”

Designed to bring convenience and joy to pet lovers, DogeRide allows drivers to ride with their dogs as companions while welcoming riders to travel with their furry friends. With Denver being one of the most dog-friendly cities in the country, this service is set to revolutionize how residents and their dogs move around town.

DogeRide aims to address a growing demand for pet-friendly transportation. Riders no longer have to worry about leaving their four-legged friends behind or struggling to find a rideshare that accommodates their pets. The DogeRide app allows seamless booking and ensures all participating drivers are comfortable with canine passengers.

To ensure a safe and pleasant ride, dogs must weigh under 80 pounds and be on a leash or in a crate during the journey.

Denver is a city that thrives on community and outdoor adventures, and dogs are a huge part of that lifestyle,” said Phil Warfield and Divine Tumenta, both Co-founders of DogeRide. “We wanted to create a ridesharing service that embraces that spirit, providing a solution for dog lovers who want their furry companions to be part of their daily lives. DogeRide is more than a rideshare; it’s a celebration of Denver’s dog-friendly culture.”

The app’s user-friendly interface allows riders to indicate when they’re bringing a dog along, ensuring that drivers are prepared for their canine co-pilots. Additionally, all DogeRide drivers are trained to prioritize safety and comfort for both human and canine passengers. From trips to the vet or park to daily commutes, DogeRide is committed to making every journey tail-waggingly fun and hassle-free.

DogeRide also offers unique features tailored to the needs of dog owners and pet-loving drivers. Drivers are encouraged to bring their dogs along for companionship while working, creating a warm and welcoming atmosphere for riders. This innovative approach not only enhances the drivers’ experience but also provides riders and their dogs with a sense of familiarity and connection.

“DogeRide is the ultimate ridesharing service for dog lovers because we’ve designed it with the needs of Denver’s vibrant pet-owning community in mind,” said Chad Harris, Co-founder of DogeRide. “Whether you’re heading to the dog park, running errands, or going on an adventure, DogeRide ensures your furry friend can come along for the ride. We’re thrilled to be part of Denver’s pet-friendly ecosystem.”

DogeRide’s mission is to create a safe, reliable, and dog-inclusive transportation option that reflects the unique lifestyle of Denver residents. As part of its commitment to the community, DogeRide plans to partner with local animal shelters and pet organizations to support adoption events and promote responsible pet ownership.

DogeRide is now available for download on iOS and Android devices. For more information, visit www.dogeride.com.

Media Contact

Nick Dell, DogeRide Technologies Inc, 1 7207817533, support@dogeride.com, https://www.dogeride.com/ 

View original content:https://www.prweb.com/releases/dogeride-unleashes-a-new-era-of-pet-friendly-ridesharing-in-denver-302337029.html

SOURCE DogeRide Technologies Inc

Continue Reading

Technology

Omnis Investments Limited Extends Relationship with SS&C

Published

on

By

WINDSOR, Conn., Dec. 23, 2024 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Omnis Investments Limited has extended its transfer agency relationship with SS&C. The contract services Omnis’s range of mutual funds, which invest across several asset classes and regions.

With more than GBP10 billion of assets under management, Omnis is one of U.K.’s largest asset managers and works closely with clients of The Openwork Partnership, a network of 4,200 financial advisers across the country. Omnis also collaborates with 2plan wealth management, a leading wealth management firm in the U.K.

“SS&C is a long-term valued partner to Omnis, and we are looking forward to continuing our work together on ways to enhance the experience of our clients and achieve our goals,” said Simon Harris, Chief Operating Officer at Omnis. “Together with SS&C, we are committed to providing a high standard of service to all of our clients and evolving our digital service offering.”

“We are pleased to extend our valued long-term relationship with Omnis,” said Spencer Baum, Managing Director Head of Client Management, SS&C GIDS. “SS&C is committed to delivering exceptional omnichannel servicing and support to all customer types.”

Learn more about SS&C’s Global Investor and Distribution Solutions here.

About Omnis Investments Limited

Omnis Investments manages over GBP10 billion in assets, working as part of The Openwork Partnership, a network of 4,200 financial advisers across the country helping people look forward with confidence and optimism. Omnis has a range of funds and strategies across the full risk/return spectrum, managed by leading investment managers. The Omnis funds are only available through advisers of The Openwork Partnership and 2plan wealth management.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about
SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

Follow SS&C on Twitter, LinkedIn and Facebook.

View original content to download multimedia:https://www.prnewswire.com/news-releases/omnis-investments-limited-extends-relationship-with-ssc-302338222.html

SOURCE SS&C

Continue Reading

Trending