The system will be built progressively, leveraging on GeTS’s existing suite of global trade connectivity services, with an initial trial for selected users. The first major phase of development for CALISTA™ is estimated to cost SGD20m ($15.1m).
CALISTA™ will bring together key logistics functions such as physical movement as well as regulatory and financial elements on a digital eco-system for logistics players and other stakeholders.
The platform aims to reduce inefficiencies for the global supply chain by interacting with systems and applications (existing and new) of various stakeholders, streamlining processes, documents and data in the flow of goods within and across countries and regions.
Envisioned as a global common platform, CALISTA™ will enable manufacturers to have direct and increased visibility of their goods while on the move, and for Logistics Service Providers (LSPs) to collaborate to develop value-adding global supply chain solutions for their customers.
For example, with the greater visibility provided by CALISTA™, manufacturers and their LSPs could partner port operators such as PSA to access new port-related asset-based and service-based solutions for greater productivity, and to explore new intermodal transport corridors to achieve shorter transit times, better cost efficiencies and more optimised inventory management.
“I am excited by the possibilities that CALISTA™ can open up across the global supply chain – greater cargo flow visibility and improved coordination benefits everyone, from manufacturer to consumer. PSA believes that a global platform like CALISTA™ will be the catalyst for breakthroughs in realising the full benefits of global supply chain digitalisation. CALISTA™ will benefit from the strong synergies between PSA’s domain knowledge and physical assets which handle a large volume of cross border trade, and GeTS’s capabilities in digital trade connectivity services,” said PSA group ceoTan Chong Meng.
Strategic partners among the global supply chain will be sought to co-create and drive truly global and fully integrated supply chain solutions. CALISTA™ will leverage Singapore’s extensive physical, financial and digital capabilities and connectivity in forming its global supply chain community.
Partnerships have been forged with Singapore agencies such as the Ministry of Trade and Industry, the Economic Development Board (EDB), and the National Trade Platform (NTP), and will continue to reach out to Singapore-based shippers and LSPs. DBS Bank will provide financial and banking technology services in this partnership. This means that DBS will work with PSA and GeTS to create seamless trade financing solutions and the necessary risk management frameworks for the community of users.
“We welcome CALISTA™ to be on board the National Trade Platform (NTP). As an open innovation platform, the NTP is constantly seeking opportunities to collaborate with value-added services providers to offer game-changing business solutions on our platform, which will bring greater productivity and connectivity to companies in our trade, trade-finance and logistics sectors here,” said Ho Chee Pong, director-general of Singapore Customs.