Saturday 23rd Oct, 2021

Logistics sector could save $1bn via Global Data Standards

Photo: Aurizon

A new discussion paper from the Australian Logistics Council calls for a common data set for Australia’s supply chains.

The paper, released on October 23, examines how the power of technology and data can best be harnessed to enhance supply chain efficiency for businesses and consumers.

It cites an industry pilot study which estimated the overall economic benefit to Australia through the widespread adoption of Global Data Standards (GDS) at a billion dollars per annum.

“Plainly, technology and data will play a pivotal role in in the future operation of Australia’s supply chains, allowing Australia to meet its rapidly growing freight task more safely and efficiently,” ALC interim chief Lachlan Benson said.

“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.”

The ALC developed the discussion paper with input from its Technology Committee.

Benson said the paper sets out a practical pathway to achieve a common data set, via a series of recommendations to address crucial issues.

“Actions include improving supply chain visibility, developing a common data standard for Australia’s logistics industry, enhancing confidence regarding the privacy and ownership of data, and aligning international data standards to boost efficiency in global trade,” Benson said.

“There are substantial economic benefits to be realised by focussing on these issues, as was clearly recognised by the ALC Board when it endorsed the adoption of GDS by logistics industry participants earlier this year.”