February 26, 2024

We are creating some awesome events for you. Kindly bear with us.

Singapore’s New Plan to Help Precision Engineering Industry Digitalise

Image Credit: Pixabay.com

Businesses and SMEs in Singapore can now tap on the latest Precision Engineering Industry Digital Plan (IDP) to enhance productivity and digital transformation. The Precision Engineering Industry Digital Plan provides a road map of accessible training programmes to assist these organisations’ employees in gaining necessary skills as they digitalise in stages.

These initiatives are likely to assist around 2,700 enterprises and 101,000 individuals in the industry, which supplies highly accurate designed and built machinery, parts, and components to manufacturing processes.

The IDP was launched by Mr Alvin Tan, Minister of State for Trade, and Industry, at the Industrial Transformation Asia-Pacific event, and is led by Enterprise Singapore (ESG) and the Infocomm Media Development Authority (IMDA) in collaboration with the Singapore Precision Engineering & Technology Association (SPETA). The IDP intends to assist PE businesses in assessing their digital readiness and identifying appropriate digital solutions to help them develop faster.

The IDP comprises two roadmaps:

  • the Digital Roadmap maps out different digital solutions that SMEs can adopt at different stages of their business growth and digital maturity; and
  • the Digital Training Roadmap offers a corresponding roadmap of training programmes to equip employees with the right skillsets.

Despite the supply chain challenges and disruption to manufacturing activities caused by the Covid-19 pandemic, Mr Alvin Tan, Minister of State for Trade, and Industry, even said the precision engineering industry has grown and remains important to Singapore, contributing about $40 billion to the country’s gross domestic product. “But as the industry strives to maintain its global competitiveness, it’s very important that we continue to adopt digitalisation and different platforms,” he said.

As part of the SMEs Go Digital Programme, the IDP provides a guide on the digital solutions that SMEs can adopt at three stages of growth:

Stage 1 gets SMEs ready for the digital economy and lists the basic digital solutions that help streamline and integrate businesses operations to improve efficiency. Manufacturing operations management, autonomous mobile robots, and production resource planning are just a few examples. These enable businesses to eliminate human errors while also allowing employees to focus on higher-value tasks such as developing new and better-quality items for their customers.

Stage 2 offers digital solutions to SMEs that are ready to scale their transformation initiatives, allowing them to combine their current workflow and production processes to maximise commercial value. The predictive asset monitoring and maintenance system, for instance, monitors and forecasts the overall performance of machines and equipment. This not only assists organisations in anticipating and detecting future defects but also lowers maintenance costs and eliminates the need for additional spare parts.

Stage 3 finds innovative technology that SMEs may use to drive smart manufacturing. For example, an autonomous robot can automate high-volume, repetitive processes like product assembly as well as lifting and carrying large objects. This minimises error margins and the danger of workplace mishaps while also allowing individuals to take on higher-value activities.

SMEs might choose pre-approved solutions under the digital plan provided on the GoBusiness Gov Assist website to assist them in adopting digital solutions. These pre-approved solutions are eligible for the Productivity Solutions Grant, which provides up to 80% co-funding until March 31 of the following year.

OpenGov Asia reported, Singapore’s new Supply Chain 4.0 Initiative was recently announced by Deputy Prime Minister Heng Swee Keat as part of a series of announcements made on the first day of the Industrial Transformation Asia-Pacific (Itap) 2021 event, to integrate more technology to help smaller businesses deal with any major future disruptions in product or service supply. Mr Heng said the pandemic uncovered supply chain vulnerabilities, citing manufacturing lockdowns and border limitations as examples of issues.

The Supply Chain 4.0 Initiative is said to be funded by the Agency for Science, Technology and Research (A*Star) and supported by two research partners, the National University of Singapore and the Singapore University of Technology and Design, with a total expenditure of $18 million over two years. The initial initiative’s goal is to create digital and automated solutions to fulfil corporate needs, as well as to employ technology to make supply chains more agile, resilient, and secure.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend