- Marine and offshore engineering enterprises looking to digitalise now have a support system in the form of the Marine And Offshore Engineering Industry Digital Plan (IDP).
- It will guide companies in assessing their digital readiness and identifying ways to go digital.
- Under the plan, two road maps have been developed.
Some 1,000 firms and 75,000 staff from the marine and offshore engineering sector are expected to get more help in digitalizing their operations with a new industry digital plan launched on Tuesday (May 25), reports the Straits Times.
Digital tools to enhance productivity
The digital plan will guide companies in assessing their digital readiness and identifying ways to go digital.
Jointly developed by Enterprise Singapore and the Infocomm Media Development Authority, the plan is set to benefit approximately 1,000 enterprises keen on streamlining operations and maximizing productivity through digital tools.
Digital roadmaps
Under this Industry Digital Plan (IDP), industry players will have access to two digital roadmaps:
- One charts out the digital solutions that can be adopted at each stage of business growth, and
- The other identifies digital training plans for its employees so they pick up the right skill sets.
Digitalization: Key way for resilient businesses
Speaking at the launch of the IDP, Minister of State for Trade and Industry Low Yen Ling said that digitalization is a key way for businesses to become more resilient, and to enhance their ability to capture opportunities in both Singapore and overseas.
She cited the example of Completion Products, an oil-and-gas manufacturer and supplier which has lowered its operating costs by 10 per cent since implementing an Enterprise Resource Planning system to streamline its corporate functions; a member of its staff who underwent digital training has been able to save up to two hours by using the company’s technological system to auto-generate a report, instead of producing one manually.
Guide on digital solutions
Serving to complement the small and medium-sized enterprises’ “Go Digital” programme launched in April 2017, the IDP has a guide on the digital solutions that firms can adopt – from getting ready for the digital economy to scaling up the business digitally and using advanced technologies to gain a competitive advantage over others.
For starters, SMEs can leverage an online self-assessment checklist to understand their digital maturity and readiness, and identify gaps in their digital capabilities. This IDP follows a similar one launched for food manufacturers last month.
Need for digital transformation
Rounding off her speech, Ms Low urged companies to take the first step in digitalization: “Although the marine and offshore engineering industry is facing very challenging times, it can pivot to new adjacent growth areas and scale up through digital transformation.”
“The government is deeply cognisant of the present challenges faced by this sector and will continue providing utmost support to the ecosystem of SMEs undergirding it,” she concluded.
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Source: The Straits Times
