DoD Saves $4.3B in FY18, Sets $6B Goal for FY19

The Department of Defense saved $4.3B in their fiscal year 2018 and another $1.7B for fiscal 2019, all attributed to the agency’s small projects, reduced stored goods and a review of defense business systems, Defense News reported Tuesday. 

Lisa Hershman, acting chief management officer for DoD, said 114 projects contributed to the FY18 savings while a reduction in redundant defense systems saved the budget for early FY19. The report said DoD already freed up inventory space five times the size of the agency’s central courtyard. Hershman hopes to see more than $6B in savings over the current fiscal year. Her office plans to focus on information technology, health care, the supply chain and the “fourth estate” agencies to help cut the Pentagon’s spending. 

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Between FY19 and FY23, DoD projects to see $46B in total savings.