A new discussion paper released this week by the Australian Logistics Council (ALC) reinforces the importance of developing a common data set for Australia’s supply chains.
The second in a series of discussion papers being released by the ALC, A Common Data Set For Our Supply Chain examines how the power of technology and data can best be harnessed to enhance supply chain efficiency for business consumers and assist in the development of the National Freight and Supply Chain Strategy.
Lachlan Benson, ALC Interim CEO said technology and data will play a pivotal role in the future operation of Australia’s supply chains, allowing Australia to meet its rapidly growing freight task more safely and efficiencly.
“However, to make certain that happens, there is a significant amount of work to be done to improve the quality and availability of data available to policy makers and industry participants regarding the operation and performance of our supply chains,” he said.
“This Discussion Paper, which has been developed with industry input through members of the ALC Technology Committee, sets out a practical pathway for achieving this outcome via a series of recommendations that address crucial issues.”
Actions such as improving supply chain visibility, the development of a common data standard for Australia’s logistics industry, building confidence regarding the privacy and ownership of data, and aligning international data standards to boost efficiency in global trade were high on the agenda according to Benson.
“These issues were all identified as priorities for industry during ALC’s inaugural Supply Chain Technology Summit earlier this year. In order to ensure that the National Strategy delivers the outcome the freight logistics industry is calling for, it will be important that these matters are explicitly addressed when the Strategy is released in 2019.”
He said there were substantial economic benefits to be realised by engaging on current issues recognised by the ALC Board during its endorsement of Global Data Standards (GDS) adoption more recently.
“An industry pilot study estimated that the overall economic benefit to Australia through widespread adoption of GDS could exceed $1 billion.”
“As this Discussion Paper shows, the more effective application of data and technology in our supply chains will ultimately enhance productivity for freight logistics operators, and deliver real benefits for consumers.”