About 2,700 businesses expected to benefit from the guide rolled out by Enterprise Singapore and IMDA
SINGAPORE – 23 NOV 2021
About 2,700 businesses and 101,000 employees can now tap the Precision Engineering Industry1 Digital Plan (IDP) to drive productivity and transform through digitalisation. Jointly led by Enterprise Singapore (ESG) and the Infocomm Media Development Authority (IMDA), in partnership with the Singapore Precision Engineering & Technology Association (SPETA), the IDP was launched by Mr Alvin Tan, Minister of State for Trade and Industry, at the Industrial Transformation Asia-Pacific event. The IDP aims to help PE enterprises assess their digital readiness and identify suitable digital solutions to accelerate their growth.
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.
SMEs that have adopted such digital solutions saw improved efficiency and better optimisation of resources (refer to Annex B (83.74KB) for company examples).
A step-by-step guide on how PE companies can go digital
As part of the SMEs Go Digital Programme2, 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. Examples include solutions in manufacturing operations management, autonomous mobile robot and production resource planning. These allow enterprises to reduce human errors and enable employees to focus on higher-value work such as developing new and better-quality products for their clients.
Stage 2 provides digital solutions for SMEs that are ready to scale their transformation efforts, enabling them to integrate their current workflow and production processes to optimise business value. An example is the predictive asset monitoring and maintenance system, which tracks and forecast the overall performance of equipment and machines. This not only helps businesses plan and detect potential faults early; it reduces maintenance costs and the need to stock additional spare parts.
Stage 3 identifies advanced technologies that SMEs can adopt to drive smart manufacturing. For instance, autonomous robot can automate high-volume and repetitive tasks such as assembling of product components as well as lifting and moving of heavy items. This reduces margins of error and risk of workplace accidents, and provides employees the opportunity to take on higher-value roles.
Ms Anne Ho, ESG’s Director for Advanced Manufacturing said, “The Precision Engineering industry is being disrupted by new digital manufacturing technologies, rising competition, as well as shifts in consumer demand and supply chains. This has accelerated the push for PE enterprises to digitalise, not just to drive higher productivity, but also to transform and innovate in order to adapt to the evolving business environment. Digital technology will enable our SMEs to operate more efficiently and make data-driven decisions to fuel their growth plans. This IDP can help companies kickstart their digital journey and take their transformation to the next level.”
Ms Catherine Chong, IMDA’s Director for SMEs Go Digital said, “We encourage SMEs of varying business needs and digital readiness to tap on digital solutions in PE IDP to optimise their business operations as well as deliver better quality customised products and services to their customers. The PE IDP will guide SMEs to be more confident in using digital solutions such as Manufacturing Operations Management and Production Resource Planning as a start to achieve operational efficiency and build core digital capabilities.”
Self-assessment tool and training roadmap
Enterprises can use an online self-assessment checklist to help them assess their digital maturity and readiness, as well as identify gaps in their current digital capabilities. The checklist takes into consideration factors such as the current business operations, stage of digitalisation and business expansion plans. This is accessible at Understand Your Digital Readiness.
Continuous workforce upskilling is key in ensuring that employees remain relevant in tandem with the company’s digitalisation journey. Under the Digital Training Roadmap, companies can plan their training programmes based on the needs of employees as well as at each stage of their transformation. These training programmes are aligned to the Skills Framework developed for the sector. SMEs can visit GoBusiness Gov Assist3 for the list of pre-approved solutions under the IDP that are supported by the Productivity Solutions Grant (PSG).
Resources:
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