Singapore
FOR years, several initiatives to digitalise supply chains have fallen flat due to difficulties in getting enough stakeholders to use digital platforms. Industry players often cite a lack of trust, cost considerations and insufficient volume for the failure of these platforms to take off.
A new data exchange system, developed by the Singapore government in partnership with the private sector, aims to change this by offering a common data infrastructure and framework designed to be neutral and open.
The Singapore Trade Data Exchange (SGTraDex) is expected to unlock over S$200 million in value annually when fully developed. The figure was derived from pilot projects that showed reductions...