SGTraDex, which stands for Singapore Trade Data Exchange, is a digital infrastructure that facilitates trusted and secure sharing of data between supply chain ecosystem partners.
Globally, there is a macro shift in trade flows and supply chains both physically and digitally. There have been momentous inefficiencies in events, documentation and financial information flows across the supply chain.
SGTraDex, created as a result of the Singapore Together Alliance for Action (AfA) on Supply Chain Digitalisation, aims to streamline information flows across a fragmented global supply chain ecosystem through a common data highway.
With this digital transformation, companies will gain the momentum to build a stronger and robust supply chain ecosystem for international trade flows. New efficiencies and opportunities will be unlocked through this collaboration where ecosystem partners come together to achieve a shared visibility of the end-to-end supply chain.
Be an early adopter and join us on this journey today!
Watch this video to learn more about SGTraDex!
HOW DOES THIS MATTER TO ME?
I'm a Bulk Shipper or Trader
I run a business that requires the movement of goods, such as commodities or finished products.
I'm a Logistics Operator
I don't own the goods but I store, audit and move goods for other businesses.
I'm a Financial Institution
I provide credit, insurance and other financing services to various parties in the supply chain ecosystem.
I'm a Non-Trading Organisation
I represent a regulator, a business association or other interested parties in the supply chain ecosystem.
SGTraDex Use Cases
Use Case A: Strengthening Trade Finance And Converging Efficiencies
Financial institutions have limited visibility over the physical movement of goods in the supply chain. This hampers their ability to verify trade activity. When there are fraudulent transactions or duplicated financing, various parties on the supply chain suffer damages. It diminishes the trust across the trading and financial communities.
SGTraDex will improve process flow efficiency, where financial institutions will be able to provide and access data directly from trusted parties, in order to reconcile trade details with the physical movement of goods. This helps supply chain players reduce dependency on physical documents, improve trade data flow and build greater trust across the trading and financial communities. SGTraDex complements other initiatives to digitalise trade documents and to mitigate against the risk of duplicate financing.
Buyers and sellers will be able to digitally track the physical movement of goods throughout the supply chain, which enhances visibility and traceability across the trade process and improves decision making process.
Use Case B: Container Flow Node Decongestion
Supply chain logistics players face frequent congestions at container flow nodes, such as at warehouses and depots, due to limited end-to-end visibility of container flows. This results in high unproductive time, sub-optimal use of asset and additional costs.
Through SGTraDex, shipping lines, depot operators, warehouse operators and hauliers can share key operational and events data such as container bookings, time slot bookings, job management order and other related data to enhance end-to-end visibility of the logistics flow. This will improve planning and asset utilisation, increase productivity and enhance efficiency for the supply chain ecosystem partners.
Use Case C: Bunker Optimisation
The bunkering industry faces two key challenges
- Operational inefficiency due to the physical exchange of documentation from the lack of digitalisation, resulting in additional time and effort to undertake transactions through manual data entry.
- Reduced availability of financing by financial institutions due to challenges assessing the veracity of documents from borrowers and limited visibility of operational data to verify genuineness of trade.
SGTraDex will increase operational efficiency by reducing duplicate processing of similar trade documents from the parties in the supply chain ecosystem, with the aim to reduce dependency on physical documentation in the long run. SGTraDex will also increase financing availability by allowing financial institutions to validate the authenticity of trade documents via data obtained directly from trusted parties and sources. SGTraDex complements other initiatives to digitalise trade documents and can potentially detect or mitigate duplicate financing by providing traceability and visibility of trade finance transactions.
How do I get started?
SGTraDex focuses on addressing the supply chain ecosystem pain points through the development and adoption of use cases, leveraging the strong public-private partnership of the Alliance for Action model.
We welcome all interested parties to join us as development partners to drive new use cases or as participants through the adoption of existing use cases.
Learn more about our initiative and get connected through our LinkedIn page for the latest updates.
We'd love to hear from you.
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