The key challenges encountered in developing the Integrated TradeXchange® programmes and the ways to overcome them are set out below:
1. Businesses did not see compelling needs to unravel their old business practices:
To ensure viability, it is important for companies to stay agile and adapt to new ways of working to level up their competitiveness. Hence, the need for the government to catalyse the change by brokering the various businesses together, re-engineered their B2B processes to bring win-win to all parties involved in the value chain as well as to provide funding to early adopters to encourage the use of technology to elicit change and bring about better efficiency and productivity.
2. 3rd party Infocomm Technology (ICT) Solution Providers perceived that TradeXchange® would level their playing field and thus, unwilling to offer their solutions on TradeXchange®: To overcome the perception that TradeXchange® competes for customers with various ICT providers, the team consulted the industry (which included importers/exporters, freight forwarders, air freight companies, banks and VAS providers. List of companies consulted include: ST Electronics, Skylift Consolidator, Fedex, DHL, CargoWise,EDI, Mitsui Chemicals, Global Airfreight, E-Trek, CybeLog, GridNode, CrimsonLogic eTrade, Kewill-IPACS, SysQuest, Synergix and DBS.) and decided to focus on identifying un-served opportunities and complement existing ICT’s solutions, allowing them to continue to serve their customers and not see TradeXchange® as a threat. TradeXchange® will serve as a one-stop connection hub to the ICT providers and logistics service providers; that enable them to expand their service offerings and to provide a more efficient end-to-end solution to their customers. To the businesses, they will enjoy clearer supply chain visibility, faster shipment turnaround and productivity due to reduction in errors and timely exchange of information.