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Singapore TradeNet Case Analysis,[object Object],Group No 2B,[object Object],Ankit Kesri		(B10068),[object Object],Ankur Maheshwari	(B10070),[object Object],Fasil Sagir 		(B10078),[object Object],Karanbir Singh Satija	(B10084),[object Object],Megha Chaturvedi	(B10088),[object Object]
Singapore: Key facts ,[object Object],Sustained economic growth during 1970s and 1980s,[object Object],On verge of becoming a developed nation,[object Object],Advantage due to geographic location (strategic port),[object Object],Largest port in gross tonnage, 2nd largest in container handling globally,[object Object],Among top 20 trading nations in world,[object Object]
Rationale behind developing TradeNet,[object Object],Problems with the existing methods,[object Object],[object Object]
Handled 10000 and more declarations each day
As high as 20 forms needed to be processed in complex cases
Inefficient operational processing
High Turnaround time, with the average of around 2 days
High costs of trade documentation: around 4%to 7% of value of good shipped
Error prone transactions (half applications had errors),[object Object]
Right Timing
Government’s emphasis on establishing Singapore as an IT society
Would help attract more FDI by providing transparency and efficiency
Cost efficiency
Providing competitiveness in external trade
Cost efficiency achieved through:
Low Manpower requirement and Low overseeing expenses
Futuristic
Provides Scope for analysis of data

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