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PSA CODE SPRINT 2023 - PROBLEM THEMES RELEASE
29 SEP 2023, 2pm
Synopsis: Forging an Agile, Resilient and Sustainable Supply Chain Orchestration - A Journey to a Thriving Future
PSA operates the world’s largest transhipment hub in Singapore, facilitating cargo movement across the world all year round. This has enabled complex trade flows in the supply chain, which drive our economies and sustain the pulse of our societies. However, in recent years, the supply chain and logistics industry face disruptions from geopolitical tensions, inflation, and pandemics. This, coupled with a growing concern on carbon emissions from transporting cargo, demand solutions that can increase the resilience, agility, and sustainability of supply chains around the world. Being a global leader in the port and logistics industry, we envision to create an Internet of Logistics for the industry, enabling collaboration among the stakeholders in both the port and logistics ecosystems, by leveraging on data and smart technologies such as Artificial Intelligence (AI). Furthermore, in this increasingly digital and technology-enabled world, we need to prepare our workforce to adapt to change and be future-ready.
Typical container flow is illustrated below:
Theme 1: Towards a highly resilient Port Ecosystem
Demand-supply management within the container port ecosystem is crucial for its efficiency. Firstly, forecasting demand is essential, considering factors like shipping schedules, trade fluctuations, and seasonal variations. Secondly, managing the supply of available berths and terminal facilities is vital to handle incoming vessels and cargo. Thirdly, optimizing the allocation of resources, such as cranes and handling equipment, ensures smooth operations. Effective demand-supply management helps reduce congestion, minimize vessel waiting times, maximize asset utilization and enhance the overall throughput of the port. Striking the right balance between supply and demand is pivotal in maintaining the productivity and competitiveness of container ports.
How can digital solutions powered by data and AI optimize demand and supply to increase resilience of the port amidst global disruptions and risks?
Theme 2: Towards a highly connected Port+ Ecosystem
Demand-supply management in the container logistics ecosystem is a critical aspect of ensuring efficient operations. Firstly, it involves forecasting demand for container shipments, taking into account various factors such as seasonal fluctuations and market trends. Secondly, supply management entails optimizing the availability of containers, ensuring that there are enough containers to meet the demand at key locations and times. Thirdly, it involves capacity management for container ships and terminals, making sure that the infrastructure can handle the expected volume of shipments. Effective demand-supply management helps prevent congestion at ports, reduces shipping delays, and lowers operational costs. This balance between supply and demand is essential for maintaining the fluidity and reliability of container logistics.
How can digital solutions powered by data and AI optimize demand and supply in the logistics ecosystem for seamless flow of cargo?
Theme 3: Nurturing our future-ready workforce
As organizations navigate through dynamic business environments, the role of Human Resources (HR) becomes paramount in ensuring that the workforce is equipped to adapt, grow, and excel in the face of change. We need to build a future-ready workforce by attracting and retaining an engaged workforce, providing learning and development opportunities, and cultivating a purpose-driven organizational culture.
How can data and AI empower HR teams to effectively manage change and build a future-ready workforce?
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