Report highlights case studies on the benefits of digitisation in the supply chain
The ICC Digital Standards Initiative has launched a report, featuring 22 case studies that illustrates how supply chain actors have successfully leveraged digital tools and interoperable global standards to address challenges in their supply chains.
Case studies in the “Key Trade Documents and Data Elements on the Frontlines” report cover both private and public sector actions across four critical areas of digitalisation:
* Shipping and logistics, focusing on electronic Bills of Lading (eBL) and other tools to reduce transaction times, enhance data integrity and improve operational efficiency.
* Commercial documents and product-related information, using technologies like blockchain and digital identity to increase transparency, reduce costs and improve traceability and trust.
* Cross-border regulatory compliance, featuring implementation of national single windows and streamlined Customs procedures to enhance compliance and operational efficiency.
* Financial services and fraud prevention, where innovations in trade finance, digital identity and consent-based data sharing have increased security, speed, and accessibility, benefiting both financial institutions and small businesses.
The case studies demonstrate that digitalisation can begin at any point in the supply chain, and be supported by off-the-shelf, proprietary, or a combination of internal and external resources. In addition to localised benefits, digitalisation also brings unexpected advantages, including increased employee engagement, customer loyalty and innovation opportunities. They also show that a continuous, iterative approach with ongoing learning can maximise benefits over time.
The case studies loosely build on the Key Trade Documents and Data Element (KTDDE) Framework, launched in April 2024, which proposes a unified approach to aligning data across key trade documents, to promote interoperability and data sharing, said a release.
Source: Exim News Service: Paris, Sept. 8