Supply Chain Inefficiencies Targeted by SGTraDex
(6 June 2022 – Singapore) The Singapore Trade Data Exchange (SGTraDex), a public-private trusted, secure, and easy-to-use digital utility initiative, was launched by the Minister for Communications and Information to connect ecosystem partners through a common data infrastructure.
More than 70 participants have connected to the digital utility seeking to ameliorate supply chain inefficiencies. It is expected to unlock over SGD$100 million of value for existing participants from three initial use cases by 2026 through cost savings from improved efficiency and productivity, optimal use of assets, faster access to financing, and other value-creating benefits.
These key pain points featured as part of East & Partners latest Global Insight Report - Digitising & Greening Global Supply Chains, in particular a lack of order tracking and tracing, ERP integration and risk management monitoring. The analysis is based on direct interviews with the Top 100 revenue ranked corporates in eight countries including Singapore.
SGTraDex participants stem from multinational corporations (MNCs), large local enterprises and small-and-medium-sized enterprises (SMEs) including DBS Bank, OCBC Bank, Standard Chartered Bank, UOB, commodity trader Trafigura, PSA, Jurong Port, Pacific International Lines (PIL), Ocean Network Express (ONE), Advario, Jurong Port Universal Terminal, ExxonMobil and Chevron.
“Digitalisation has transformed many sectors, but in the global supply chain and trade sector, its promise has yet to materialise. The physical exchange of paper remains the norm. We believe that the plug-and-play digital infrastructure we have created at SGTraDex will go a long way to make it easy for all participants to share data under an agreed set of rules. Our goal at SGTraDex is to enable global trade to happen more quickly, more reliably, and with higher integrity” said SGTraDex Services CEO, Antoine Cadoux.
“We are working with industry participants to identify problems that digitalisation can help resolve and demonstrate the value of coopetition, the idea that competitors should build differentiated capabilities and competitive advantage, but they should also collaborate to solve common problems” Cadoux added.
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