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20 PCB007 MAGAZINE I JULY 2022 Supply chain disruptions related to the COVID pandemic, geopolitical tensions, and other factors are forcing companies to rethink their global manufacturing operations and sup- pliers with an eye toward hedging against risk. For close to a decade, IPC has been encourag- ing its members to establish a layered approach to supply chain management, one that recog- nizes that companies must have multiple sup- ply chains that complement one another. e challenge for companies that pursue this lay- ered approach has always been managing the tension between supply chain risk and optimi- zation. Hedging against risk raises costs, while fully cost-optimized supply chains can expose companies to disastrous risk. Now these long-standing supply chain con- siderations are being upended as many gov- ernments are expanding investments in semi- conductors and potentially in the broader elec- tronics industry. In the United States, Congres- sional action to approve $52 billion in CHIPS Is the U.S. Government Ready to Meet the Test of Technological Leadership? One World, One Industry Feature Column by Dr. John Mitchell, IPC PRESIDENT AND CEO

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