Supply Chain Security Programmes has been saved
Supply Chain Security Programmes
The growth of global trade worldwide has resulted in increased security threats to countries around the world and customs authorities who need to inspect cargos entering the country. Recognising this and to encourage companies dealing with cross border movement of goods, many customs authorities around the world have introduced programmes such as the Authorised Economic Operator (AEO) status, based on the WCO’s SAFE Framework of Standards.
In Singapore, Customs has launched the Secure Trade Partnership (STP) and STP-Plus programmes which encourage companies with operations in Singapore to increase the safety and security of their supply chains in exchange for various benefits under the programmes which include having expedited customs clearance, in Singapore and other partner countries that Singapore has entered into Mutual Recognition Arrangements (MRAs) with. Singapore currently has MRAs with the following countries:
- Hong Kong
- New Zealand
- United States
The STP and STP-Plus programmes are applicable to importers, exporters, manufacturers, freight forwarders, warehouse operators, transporters and terminal operators. Only STP-Plus holders currently benefit from the MRAs mentioned above, whereby Singapore Customs offers benefits of reduced cargo inspection, recognition as a lower risk company, a dedicated account manager appointed by Singapore Customs for the company, and recognition as a known consignor under the Regulated Air Cargo Agent Regime.
At Deloitte, we assist companies attain the benefits associated with supply chain security programmes, where we provide the following assistance:
- Assess readiness to participate in the supply chain security programme based on current activities and operations;
- Developing and formulating processes surrounding the supply chain security framework where the existing processes and procedures are inadequate;
- Assist with applications to Singapore Customs;
- Periodic review to monitor compliance with the conditions tied to the relevant status obtained by the company; and
- Workshop and training programmes.
For queries or assistance relating to STP certification in Singapore or similar programmes overseas, feel free to send us an email through the Get in Touch section below or via the online form on the link at the right.