At the Singapore Logistics Forum 2018, Senior Minister of State for Trade and Industry (MTI) Koh Poh Koon revealed that the logistics industry contributed 7.2% to Singapore’s 2017 GDP, and registered year-on-year growth of 4.8%. The sector also hired more than 84,000 workers, a 1.5% increase over the previous year.
Following that, Koh announced a three-year plan that charts out the different ways the logistics industry can go digital, with an emphasis on the operational processes and collaborations among stakeholders.
Developed by the Singapore Logistics Association (SLA), this plan is the latest of a series of measures that the Republic has rolled out to step up its technology adoption efforts. SLA will work with the Logistics Alliance on the initiatives, which include the establishment of platforms to display innovative technology and digital applications in logistics.
Supported by MTI’s statutory board Enterprise Singapore, the Logistics Alliance is a six-member industry group comprising the Container Depot and Logistics Association (Singapore), the SLA, the Singapore Transport Association, SAAA@Singapore, as well as Republic Polytechnic’s Centre of Innovation for Supply Chain Management.
In addition, proof-of-concept projects will be piloted through the Centre of Innovation Supply Chain Management @Republic Polytechnic (COI-SCM@RP) and other partners. Further, concerted efforts to push for the adoption of automation will be actively carried out.
Apart from technology adoption, the roadmap will also look into attracting and retaining talent for the logistics sector, reinforcing cooperation among firms within the industry, providing relevant support and advice to the businesses, as well as opportunities for internationalization.
The Singapore Logistics Forum 2018 also witnessed the signing of a memorandum of understanding (MOU) between Commodities Intelligence Centre (CIC), Zallsoon Information Technology (Zall), Global eTrade Services (GeTS), PIL Logistics, YCH Group and Warehouse Logistics Net Asia (WLNA).
A joint venture between China-based Zall Group, the Singapore Exchange and GeTS – CIC will operate a global B2B e-trading platform for commodities – the first of its kind in Singapore. Under the MOU, PIL Logistics, YCH Group and WLNA will provide their integrated supply chain solutions (i.e. shipping, freight forwarding and warehousing) to support the trade flows on CIC’s platform.
Source: The Business Times, Ministry of Trade and Industry Singapore