Singapore Launches the Precision Engineering Industry Digital Plan

Jan 2022

The Singapore government has unveiled a 3-stage digital roadmap for the precision engineering industry, called the Precision Engineering Industry Digital Roadmap (IDP). Overseen by Enterprise Singapore and the Infocomm Media Development Authority (IMDA) of Singapore, the roadmap is expected to help companies in the precision engineering industry identify gaps and the digital solutions that apply at different stages of their growth. The sector is considered a key component of Singapore’s manufacturing sector, contributing about SGD 40 billion (USD 29.7 billion) to the country’s GDP.

The Precision Engineering IDP has been developed to support companies that provide precision machining, elastomeric and polymeric molding, and stamping in industries such as semiconductors, automotive, medical technology, aerospace, and electronics. It provides a step-by-step guide on the digital solutions SMEs in the Precision Engineering industry can adopt at each stage of their growth. The IDP will continue to be updated over time as the industry progresses and newer, more relevant technologies are introduced.

According to Singapore’s Minister of State for Trade and Industry Alvin Tan, the IDP is expected to help companies that are newer to digitalization, allowing them to integrate digital solutions into their businesses. Stage 1 is a “foundational level”, meant to introduce small and medium enterprises (SMEs) to basic solutions and build core digital capabilities and enhance operational productivity, while Stage 2 would highlight digital solutions for SMEs to connect digitally to optimize business value. Lastly, Stage 3 would recommend measures for companies to help automate operations and move towards a smart business.

(Sources: IMDA; The Business Times)

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