Over the last three years, ten supply chains have tapped on infocomm technologies to achieve more efficiency in activities such as procurement, manufacturing, logistics and payments. Under the Collaborative Hi-Tech Manufacturing Plan (CHTMP) launched in 2004 by IDA Singapore, the high-tech manufacturing sector witnessed increased efficiency and reduction in operational costs.
Singapore, 21 March 2007 | For Immediate Release
Over the last three years, ten supply chains have tapped on infocomm technologies to achieve more efficiency in activities such as procurement, manufacturing, logistics and payments. Under the Collaborative Hi-Tech Manufacturing Plan (CHTMP) launched in 2004 by IDA Singapore, the high-tech manufacturing sector witnessed increased efficiency and reduction in operational costs. Companies are using electronic standards such as RosettaNet to enable S$3.2 billion worth of annual transactions. Cost savings of nearly S$41 million were achieved by the ten supply chain masters and their suppliers.
The CHTMP aimed to build ten end-to-end, integrated and responsive supply chains in the high-tech industry. IDA and the ten supply chains have invested more than S$14 million in project activities. IDA's related initiatives in Radio Frequency Identification (RFID) and Retail Electronic Supply Chain Management (Retail eSCM) Ecosystem have also brought about efficiency benefits to the logistics and retail sector.
Mr Chan Yeng Kit, Chief Executive Officer of the Infocomm Development Authority of Singapore said, ”As the manufacturing and logistics sectors are important engines of our economy, infocomm will continue to be a critical enabler in these sectors. With a world-class logistics and infocomm infrastructure, Singapore can help to strengthen supply chains thereby enabling companies to meet increasing global competition.”
Moving forward, the government will continue to leverage on infocomm to help the trade and logistics community through the development of TradeXchange®. To be launched in October this year, TradeXchange® is an integrated platform that facilitates B2B and B2G trade processes. Together with the Singapore Customs and Economic Development Board (EDB), IDA launched a Call-For-Collaboration (CFC) in 2006 to invite the industry to develop B2B Value Added Services (VAS) on TradeXchange®. Refer to Annex A (31.78KB) for the VAS services provided by the companies.
Through the CFC, IDA, EDB and the six companies will be investing S$4 million to develop solutions to streamline trade processes on the TradeXchange® platform. The companies are AEB Asia Pacific, CrimsonLogic eTrade Services, Cyberlog Technologies, Gridnode, Kewill-IPACS e-Solutions and Y3 Technologies. The suite of B2B services will allow the trade and logistics community to file customs declarations and manifest submissions with other countries. It also allows companies to check schedule and book cargo space electronically with shipping lines. Companies will be able to electronically transfer titles securely and purchase cargo insurance online.
IDA will continue to work with other government agencies and industry players to leverage on infocomm to ensure our supply chain infrastructure, including the air- and seaports remain world-class. This will bring Singapore one step closer to becoming a global Supply Chain Nerve Centre.
ISSUED BY CORPORATE & MARKETING COMMUNICATION DIVISION
INFOCOMM DEVELOPMENT AUTHORITY OF SINGAPORE
About Infocomm Development Authority of Singapore
The Infocomm Development Authority of Singapore (IDA) is committed to growing Singapore into a dynamic global infocomm hub. IDA uses an integrated approach to developing infocommunications in Singapore. This involves nurturing a competitive telecoms market as well as a conducive business environment with programmes and schemes for both local and international companies. For more information, visit https://www.imda.gov.sg/.
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