300 Singapore-based companies to get free evaluation for building Smart factories of future

To help manufacturers build smart factories and face the coming challenges, the Singapore government will conduct free evaluations of about 300 companies across all industries over their readiness to move into Industry 4.0. This was stated by Senior Minister of State for Ministry of Trade and Industry Koh Poh Koon while speaking at the IoT Asia 2018 conference today.

Koh Poh Koon, Senior Minister of State for Ministry of Trade and Industry speaking at the IoT Asia 2018 conference today.
Koh Poh Koon, Senior Minister of State for Ministry of Trade and Industry speaking at the IoT Asia 2018 conference today. Photo courtesy: Twitter page of Sathvik Rao

Singapore Smart Industry Readiness Index is the world’s first Industry 4.0 tool developed by the Singapore Economic Development Board (EDB) to catalyse the transformation of industrial sectors during the 4th Industrial  Revolution. This was launched on November 2017.

This tool will allow companies across industries to evaluate the current state of their facilities, identify the gaps and opportunities present, as well as better understand Industry 4.0 concepts and the rise of new manufacturing technologies.

Singapore Smart Industry Readiness Index comprises of 3 layers. At the top are the 3 fundamental building blocks of Industry 4.0: Process, Technology, and Organization. Underpinning these building blocks are 8 pillars of focus, which then map onto 16 dimensions of assessment.

For each of the 16 dimensions, the Index provides an assessment matrix which companies can use to evaluate their current processes, systems and structures. 

Overview of the Smart Industry Readiness Index.
Overview of the Smart Industry Readiness Index. Photo courtesy: edb.gov.sg

These will provide the companies with information on the steps needed to progress and also aid them in designing a comprehensive transformation roadmap. 

“Enabling our industries and supporting our companies and workers in their efforts to adopt Industry 4.0 solutions will be a key priority for Singapore. This will help to keep Singapore as a globally competitive Advanced Manufacturing hub to attract strategic investments and anchor our position in the global value chains,” said Dr Koh.

Speaking about Singapore Smart Industry Readiness Index, the Minister said, “The index is one of the last pieces of the entire ecosystem of change that will help companies figure out where their gaps and needs are.”

“The Singapore government will work closely with Trade Associations  and Chambers to drive the use of the index, as well as to deepen engagements with companies and extend the necessary support and guidance to help businesses transform,” Dr Koh added.

Author
CtoI News Desk
CtoI News Desk – CtoI

Singapore-headquartered online media company targeting Indian Diaspora across Singapore, US, UK and Dubai. Connected to India covers developments around Indians abroad, informing, engaging and entertaining its audiences.

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