PSA International (PSA) and the National University of Singapore (NUS) have announced the launch of the PSA-NUS Supply Chain Living Lab, which will facilitate efficient and sustainable supply chain growth.

PSA noted that it has, in recent years, expanded its role as a leading global port operator to also encompass complementary services in the broader supply chain sphere as it recognises the growing need for integrated solutions that extend beyond container handling within ports.

In line with its overall strategy, PSA noted that it will be supporting the initiative with funds totalling up to S$10 million (US$7.47 million).

"The PSA-NUS Supply Chain Living Lab will strengthen collaboration between industry and academic expertise to address critical supply chain challenges," the announcement said.

It added that the Lab will provide a sandbox to foster the development of community-centric solutions for supply chain optimisation together with industry stakeholders, with a focus on enhancing agility, resilience and sustainability for supply chain operations both regionally and globally.

"As we navigate the rapidly evolving landscape of global trade, it has become essential for PSA Group to continually adapt and refine our business strategy. We will continue to look for new areas of expansion whilst enhancing our presence in key locations and connecting these strategic nodes to form a cohesive and integrated network across the globe," said Ong Kim Pong, Group CEO of PSA International. 

"This collaboration with NUS also marks a significant step in our journey towards strengthening PSA's position as a leading global port operator and supply chain services provider, capable of delivering supply chain efficiency and resilience across the world," he added.

Tan Eng Chye, president of NUS, noted that the establishment of the PSA-NUS Supply Chain Living Lab marks a significant milestone in the collaborative efforts to advance supply chain innovation.

"This initiative exemplifies the synergy between academia and industry, leveraging our combined strengths to address complex challenges such as optimising logistical efficiency, enhancing data-driven decision-making, and integrating sustainable practices across supply chain operations."

"By fostering a dynamic ecosystem for research and development, we aim to drive transformative solutions that enhance the resilience and efficiency of supply chain operations, ultimately benefitting communities and economies worldwide," he added.

The launch of the Supply Chain Living Lab follows the recent groundbreaking of the upcoming PSA Supply Chain Hub (PSCH), which is an integral part of PSA's strategic expansion of Singapore's Tuas Port Ecosystem.

The state-of-the-art PSCH facility is scheduled to be ready by 2027 and will integrate with Singapore's extensive supply chain ecosystem.