Traditionally, singapore has represented a fairly typical industry supply chain, featuring sourcing, production, transport and logistics (inbound and outbound), warehousing and distribution.History of cognitive learning theory our location at the heart of southeast asia has meant that we developed a role as a regional hub for shipping and logistics, moving goods around asia pacific, but again, using traditional means to do so.History of cognitive learning theory today however, the adoption of digital technologies is dramatically changing the landscape for singapore. Singapore’s place in APAC logistics

history of cognitive learning theory

Singapore has long played a significant role in the global supply chain business, being central to APAC’s logistics and essentially the lead territory in one of the world’s most important trade routes.History of cognitive learning theory research from pwc has forecast that by the year 2030, 16 of the top 20 bilateral trade routes in the world will include APAC markets, comprising $4.7 trillion in trade value, with APAC trading routes making up over 80 percent of the world’s logistics value.History of cognitive learning theory

Singapore is committing to the future and wants to reinforce its place in APAC’s logistics industry. With that in mind, the singapore government has begun transforming logistics as part of its $4.5 billion industry transformation programme.History of cognitive learning theory it has goals to drive excellence in logistics operations and to be leaders in innovation, while also building a strong core of local logistics talent and making singapore attractive to inward investment.History of cognitive learning theory this scheme is named the logistics industry transformation map (ITM) and follows similar plans for singapore’s food and beverage and precision engineering sectors.History of cognitive learning theory

The potential for singapore is there: according to pwc, “advanced logistics hubs, such as singapore, show strong potential for evolving into digital nerve centers managing supply networks in APAC in the coming years.History of cognitive learning theory these locations are equipped with quality institutions, infrastructure and support services [that can] maximize the impact of a sophisticated digital supply chain model.”

history of cognitive learning theory

So, the next logical step forward for singapore’s supply chain sector is to fully embrace digital. Tools like cloud-based systems, data analytics and artificial intelligence (AI) are already in play, and can help singapore’s supply industry drive benefits.History of cognitive learning theory further to these tools, internet of things (IOT) solutions are helping companies make supply chains more efficient, enabling them to predict when parts need to be repaired or replaced, for example, while sensors and data analytics tools let them keep more accurate inventory, again reducing costs.History of cognitive learning theory other tools on the way

Singapore is also at the forefront of blockchain-enabled supply chains, using the decentralized ledger technology to enable the digital tracking of information, including origination data, batch numbers, storage temperatures or processing information within the supply chain.History of cognitive learning theory blockchain offers a valuable opportunity for singapore’s logistics industry to improve traceability and visibility compared to existing technologies like RFID tagging.History of cognitive learning theory

A good example of how digital has been embraced in singapore exists in project SAFER (sense-making analytics for maritime event recognition), which was designed and implemented to optimize port operations using predictive analytics and machine learning tools that improve vessel tracking, detect illegal activities and accurately predict vessel arrivals, among other applications.History of cognitive learning theory singapore’s maritime and port authority also invited tenders based on digital technologies like iot, data analytics and AI, with funding available to companies that pitch interesting ideas.History of cognitive learning theory the commitment singapore has to new technologies for transforming logistics is clear. A growth opportunity

PwC found that 67 percent of businesses now “consider digital supply chain disruptive and important” and that 40 percent of APAC companies have already deployed technologies like collaboration tools and supply chain analytics.History of cognitive learning theory singapore’s logistics companies are continuing along the digitization path, and in time it can help them drive a reduction of 3.2 percent in annual costs as well as a 2.7 percent increase in annual revenues.History of cognitive learning theory

The shift to digital solutions is central to this, and the traditional supply chain model is now outmoded and, to remain competitive, in need of an overhaul.History of cognitive learning theory in the digital supply chain, every stakeholder, be it supplier, production, distribution or consumer, makes up a mutually-beneficial logistics ecosystem.History of cognitive learning theory singapore looks set to be at the vanguard of the supply chain revolution.