Singapore, October 16, 2018 – The Singapore Economic Development Board (EDB) announced the launch of the Index Partners Network (“the Network”) to help manufacturers accelerate the execution of their Industry 4.0 initiatives.
The Network complements the Smart Industry Readiness Index (“Index”) by building an ecosystem of partners, in the areas of technology, talent development and training, as well as financing that manufacturers can tap on to bridge the gap between the planning and execution phases of their transformation journey. EDB will also partner international organisations to help regional governments and companies adopt the Index.
“Beyond being a tool that helps manufacturers evaluate their readiness for transformation, the Index provides a common language and framework for the various Industry 4.0 stakeholders to base their solutions and offerings on,” said Mr Lim Kok Kiang, Assistant Managing Director, EDB. “The Network takes us one step further by building a community of partners with diverse capabilities and expertise to help manufacturers execute their transformation plans using the Index.”
Four categories of partners to support manufacturers
The Network will comprise four categories of partners to help manufacturers in their Industry 4.0 transformation journey – technology, solution and strategy
partners, talent development and training partners, financial institutions and international platform and outreach partners.
Technology, solution and strategy partners help manufacturers translate transformation plans into action by identifying the systematic steps to be taken and the technology and solutions required to implement these steps. EDB is collaborating with McKinsey, SAP, Siemens and TÜV SÜD to develop a prioritisation matrix that will help manufacturers identify initiatives that generate the greatest impact to their key performance targets. Local companies such as ATE, Auk Industries and PBA Group have also used the Index to categorise its products and services. The Singapore Institute of Manufacturing Technology (SIMTech), a research institute of the Agency of Science, Technology and Research (A*STAR), referenced the Index to develop a ‘Digital Transformation and Innovation (DTI) Methodology to help companies execute digital transformation roadmaps and build in-house transformation teams. Moving forward, SIMTech will be aligning its existing and upcoming research and development programmes to the Index.
In addition, it is critical that the workforce has the right skills and knowledge required for Industry 4.0. Talent development and training partners such as National University of Singapore (NUS) School of Continuing and Lifelong Education (SCALE) will develop skills maps and curriculum based on the Index for tertiary and continuous education programmes. For example, NUS is developing a new Industry 4.0 Master’s Degree programme with modules that are mapped to all 3 building blocks of the Index. Through these courses, companies will be able to identify the right courses for its workforce based on its assessment results.
Financial institutions will also form part of the Network, through the development of programmes and schemes targeted at supporting SMEs. For instance, DBS is developing schemes to support SMEs along their transformation journeys, from the point of undertaking the Index assessment to implementation of specific technologies and solutions. DBS’ SME clients can now tap into the Index at a preferential rate to help them identify gaps in their innovation and digital process in a systematic and comprehensive way. To further help customers adopt the latest technology that is relevant to their business, DBS also has a programme TechMatch to help SMEs define, design and develop the right technology solutions for the business by matching them with digital solution providers that are relevant to their industry.
To fully harness the potential of Industry 4.0, manufacturers need to digitalise and integrate their operations beyond a single facility. To do so effectively, I
nternational Platform and Outreach Partners will promote the Index as a common assessment tool to catalyse industry transformation in the region. As part of the initiative, the Asian Productivity Organization plans to assist its member countries to diagnose and develop national productivity and innovation roadmaps. The Index will help member countries evaluate their readiness for Industry 4.0 and enable them to develop customised approaches necessary for transformation.
About the Singapore Economic Development Board (EDB)
The Singapore Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry, is responsible for strategies that enhance Singapore’s position as a global centre for business, innovation, and talent. We undertake investment promotion and industry development, and work with international businesses, both foreign and local, by providing information, connection to partners and access to government incentives for their investments. Our mission is to create sustainable economic growth, with vibrant business and good job opportunities for Singapore.
For more information on EDB, please visit
www.edb.gov.sg.
For media queries, please contact:
Mr Clement Cher
Senior Lead, Public Affairs
Singapore Economic Development Board
Tel: (65) 6832 6706
HP: (65) 9650 8435
Email:
clement_cher@edb.gov.sg
Posted on Jul 13, 2020 under
PRESS RELEASE