PSA and GeTS to develop new global trade facilitation & supply chain platform “Calista™”
PSA International Pte Ltd (“PSA”) is partnering Global eTrade Services (“GeTS”) Asia Pte Ltd, a fully -owned subsidiary of CrimsonLogic Pte Ltd (“CrimsonLogic”), in the development of a global common trade and supply chain platform called “CALISTA™” – an initialism for CArgo Logistics, Inventory Streamlining & Trade Aggregation – to facilitate trade and help shippers to better manage the physical movement of goods, trade financing and compliance.
CALISTA™ is a global supply chain platform that brings together the key physical and non- physical – such as regulatory and financial – activities of logistics on a digital eco -system that serves t he community of logistics players and stakeholders.
Taking advantage of advanced digital technologies, CALISTA™ aims to reduce inefficiencies for the global supply chain by interacting with systems and applications (existing and new) of various stakeholders. CALISTA™ will streamline processes, documents and data in the flow of goods within and across countries and regions. Stakeholders will benefit from the reduction of data duplication, automated handshakes across nodes, improved authenticity of data flow and access to accurate and up- to-date status visibility.
Envisioned as a global common platform, CALISTA ™ will enable manufacturers to have direct and increased visibility of their goods while on the move, and for Logistics Service Providers (“LSPs”) to collaborate to develop value- adding global supply chain solutions for 2 of 3 their customers. For example, with the greater visibility provided by CALISTA ™, manufacturers and their LSPs could partner port operators like PSA to access new port - related asset -based and service- based solutions for greater productivity, and to explore new intermodal transport corridors to achieve shorter transit times, better cost efficiencies and more optimised inventory management.
CALISTA™ will build on GeTS’s existing suite of global trade connectivity services. CALISTA™ will work closely with various national trade, regulatory and other supply chain platforms to facilitate cross -border trade and help global shippers meet regul atory and compliance requirements from government agencies and trade associations around the world. CALISTA™ will also seek strategic partners along the global supply chain to co- create and drive truly global and fully integrated supply chain solutions.
Based on this approach, CALISTA™ will be built progressively, with the first product being opened now for trial usage with selected users. The first major phase of development for CALISTA ™ is estimated to cost SGD 20 million.