Intelligent Digital Trade Corridor.
The Intelligent Digital Trade Corridor (iDTC) platform captures and securely stores supply chain documents, data and events provided by the original owner, ‘digitally’ signing their ownership.
The iDTC will improve border flows through increasing supervision of goods, providing real time information and enabling data-based risk assessments.
The iDTC is designed to provide insights into trade for both the traders and governments. Its smart design means that traders will be prompted to complete all the necessary documents and declaration at the start of the process, based on the goods they are moving.
iDTC will also analyse the trade information and flows to develop intelligence on trade patterns, which can be used to planning and risking.
For Traders:
- Supply chain visibility
- Greater predictability: consistency (e.g. in decisions, release times) enables further supply chain optimisation
- Cost efficiency: speed and predictability reduce ‘cost to serve’; streamlined processes reduce administrative burden
- Enhanced speed (e.g. in authorisation decisions, inspections, and border administration): reduces costs and time to market
- Supply chain visibility
- Improved compliance: through enhanced risking, industry partnership, and continuous compliance improvement via incentivisation
- More effective targeting of resource and risking capabilities: capacity can be redirected to control higher risk trade and to reduce down repetitive tasks seeking to plug intelligence gaps – can material impact government revenue losses (e.g. 3.5bn excise, 25bn in border related crime)
- Trade facilitation leads to economic growth: reduced administrative burden, checks increasingly moved away from the border, and international partnerships
- Resilience in supply chains minimising the disruptions at UK ports and improving government’s ability to forecast