TradeXchange is a multi-agency initiative led by Singapore Customs (SC), EDB, SPRING and GovTech.
TradeXchange provides a neutral and secure platform that enables seamless exchange of information within the supply chain and logistics community. This multi-party collaboration platform provides greater operational efficiencies and clearer visibility to businesses across the supply chain.
Integrating Supply Chain and Logistics Processes
In response to a call-for-collaboration, companies have started integrating their key trade and logistics IT systems, processes and data through TradeXchange since February 2011; including the sharing and re-use of common trade document/ data with their authorised business partners across the value chain. These integrated processes include:
- Marine Cargo Insurance
- Trade Finance
- Trade Permit Integration
Through TradeXchange, businesses can have a more efficient mechanism to exchange essential information across the supply chain. With greater reusability of the information across the chain, businesses will enjoy greater operational efficiencies, clearer supply chain visibility, faster shipment turnaround and productivity due to more timely exchanges of information and documents across their partners in the value chain.
To the IT service providers, TradeXchange provides a one-stop connection hub to enable them to expand their service offerings and provide a more efficient end-to-end solution to their customers.
The Agencies leading this initiative, aim to encourage more companies (MNCs and SMEs) to exchange information through TradeXchange, thereby realising the full potential of TradeXchange as a multi-party collaboration platform.
GovTech continues to work with industry to innovate and streamline the supply chain through the use of TradeXchange.