DoD: Three-month program delays

The Defense Department’s acquisition chief Ellen Lord told reporters April 20 that the agency is predicting a 3-month slowdown for major defense programs due to the coronavirus pandemic. The acquisition team did not identify specific programs, but the most vulnerable sectors would include aerospace and shipbuilding. There are 10,509 major prime contractors. More than 100 have shut down, and 68 have closed/reopened. Of 11,413 vendor-based companies, 427 have shuttered, with 147 having closed/reopened, she said. One of the measures DoD is taking to support the industrial base is boosting progress payment rates to contractors, raising them for large businesses from 80%-to-90%; and small businesses from 90%-to-95%. (Aviation Week 04/20/20) https://aviationweek.com/defense-space/budget-policy-operations/pentagon-predicts-three-month-major-program-delay?utm_rid=CPEN1000002255725&utm_campaign=23806&utm_medium=email&elq2=3246a4b618f0455aa4c91818256e274c.