1. The Singapore Economic Development Board today published findings from its first Smart Industry Readiness Index (SIRI) Manufacturing Transformation Insights Report 2019, highlighting manufacturers in the semiconductor and pharmaceutical industries as frontrunners in their adoption of Industry 4.0 in Singapore.
2. Based on data collected from 200 manufacturers across 12 major industries in Singapore who have undergone the SIRI Assessment, the SIRI Manufacturing Transformation Insights Report analyses how much industries have progressed in their I4.0 transformation journey. These findings allow manufacturers to benchmark themselves against peers within their own industries and with the broader manufacturing sector.
3. “For the first time, we are able to obtain a snapshot of the current state of industrial transformation across multiple manufacturing industries, well supported by real-world, industry-based data. With this information, manufacturers, governments, technology providers and stakeholders driving industrial transformation will have the necessary knowledge to develop the appropriate interventions and catalyse the transformation of the manufacturing sector,” said Chng Kai Fong, Managing Director, EDB.
Key observations in semiconductor and pharmaceutical manufacturers
4. Manufacturers within the semiconductors and pharmaceuticals industries are the most progressive and holistic in their transformation, scoring well across all 16 dimensions measured in the SIRI Assessment. They demonstrated improvements in key capabilities such as processes, technology adoption and change management, thus ensuring a uniform acceptance and adoption of Industry 4.0 in their organisations.
5. Within pharmaceuticals, it was noted that industry platforms such as the Biopharmaceutical Manufacturers’ Advisory Committee (BMAC) are strong catalysts driving transformation in the sector. Leveraging SIRI as a common framework, BMAC companies banded together to consolidate their SIRI scores, identify common problem statements and prioritised areas they could work on collectively. This not only enabled the group to gain deeper insights into industry challenges, but also facilitated discussions with vendors to develop meaningful solutions that would benefit all BMAC members.
Advancing connectivity to intelligence
6. The report also revealed that manufacturers advanced in their transformation
ensured a higher level of interconnectedness across their physical assets and
software systems, allowing the real-time exchange of data.
7. However, the report recommended that manufacturers in Singapore take the
next step to implement not only connected, but intelligent systems. This will
allow them to more effectively process and analyse the data generated from
connected systems for actionable insights, such as predicting equipment
failures and adjusting production in real-time to meet demand.
8. The SIRI Manufacturing Transformation Report 2019 analyses data from 200
funded SIRI Assessments of Singapore-based manufacturing facilities from
12 manufacturing industries, conducted between March 2018 and August
2019. These facilities belong to companies from 14 countries across Europe,
North America and Asia Pacific, ranging from small, family-owned enterprises
to large, multinational corporations. EDB commenced the development of the
report in July 2019 and validated the report’s findings with key industry leaders
like SAP, Siemen, McKinsey & Company and TÜV SÜD. The report is publicly
available on https://www.edb.gov.sg/SIRI
About the Smart Industry Readiness Index (SIRI)
Developed by EDB, in partnership with a network of leading technology companies, consultancy firms, and industry and academic experts, SIRI is a suite of frameworks and tools to help manufacturers start, scale and sustain their manufacturing transformation journeys. In a funded SIRI Assessments, appointed consultants helped companies use SIRI to understand the current state of their manufacturing facilities and learn about possible Industry 4.0 initiatives.
About the Singapore Economic Development Board
The Singapore Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry, is responsible for strategies that enhance Singapore’s position as a global centre for business, innovation, and talent. We undertake investment promotion and industry development, and work with international businesses, both foreign and local, by providing information, connection to partners and access to government incentives for their investments. Our mission is to create sustainable economic growth, with vibrant business and good job opportunities for Singapore.
For more information on EDB, please visit www.edb.gov.sg
For media queries, please contact:
Mr Victor Heng
Project Officer, Public Affairs
Singapore Economic Development Board
Ms Karen Lin
Head, Public Affairs
Singapore Economic Development Board
Tel: 6832 6555
Posted on Jul 13, 2020 under