Singapore Tradenet
Transcript of Singapore Tradenet
Singapore TradeNet : A Tale Of One CityGroup 14
Singapore- Location
Singapore: Trade Documentation
Facts
Cargoes being shipped
Valuation
Dates
Location
TDB’s Problem
• Handle 10000 declarations everyday• Synchronize with other agencies having own
rules and procedures• At least 4 to 20 forms required for each shipment• Physically submit the forms • 2 day tunaround period• Errors in documents• Cost 4 to 7% of value of goods• Inability to bring new labour
Solution – TradeNet System Structure
TradeNet SNS
Local Host Computer
TDB
Customers
Port Authorities
InternationalBanks and Insurance
Traders
TradeNet SchematicApplication toInterface
Translator to EDIFACT
Communications IBM PC-IE
Information Exchange Interface
Information Exchange Engine
Application Host
Session Manager
UserAnd
SystemMonitor
Msg. BD Help DB XactionsDB
Billing DB
Initiation: the necessary trigger
• Discovery of use of IT found as solution
• Education • Creation of NCB• Creation of GCP• Allignment of goal : External Trade as
major goal– Trade streamlining• Tradenet Steering Committee
This led to..
• Redution in number of forms• Proposal of tradenet • Development of prototype
Building tradenet
• RFI from vendors• Pricewaterhouse study of market• Pricewaterhouse study of potential
applications• Request for proposal• Visit of existing EDI insatllations in US,
Europe• Creation of SNS• IBM Review• Contract between SNS and IBM
Execution
• IBM execution–TAMPA Engine–CSA- information exchange –Two procedural steps• Creation of ECP• Inclusion of SNS professionals in early
phase of development
Reasons for successful implementation
– IBM advantage• Management commitment- fast decision
making• Clear agreement • Expertise and team work
– Necessary background systems already in place
–Modularity in system design
Additional initiatives
• Low tax rate for computer hardware
• Facilities of service centres
Cost to company
• Direct costs– One time connect charges: $375–Monthly cost :$15– Net Usage: $ 0.25/ Kb– Computer hardware: $ 2000– Software cost: $2000
• Indirect costs– Changes in procedures and protocols– New way of doing business for small firms
Huge Success
• High subscription• Freight forwarder’s perspective– Speedy transactions– Efficient truck utilization– Automatic transfer of information– Improved service
Huge Success
• Custom and Excise perspective– Preapproval helped in companies
responsibility– Faster payments
• TDP’D perspective– Foreign investment to economy
• Business perspective– Faster transactions– Consolidated shipments– Basic info already present on own
systems– Banking and insurance ease
Future
• Extend EDI to every sector• Medinet • International trade facilitation
Thanks
• M Sadique Quraishi B09091• Balachandran B09076• Gaurav Sharma B09080