Singapore’s logistics and supply chain industries are built on the bedrock and legacies of our entrepot roots. Through various chapters in history, Singapore has emerged stronger to strengthen and reassert its strategic advantage as the international trade and transit hub.
The mid- and long-term impacts of COVID-19 will once again challenge Singapore’s position and strategic advantage as a key connector in international trade and transit hub. Competition is burgeoning, with surrounding Southeast Asian states developing their transit infrastructure and capabilities. Rising to these new challenges, Pacific Logistics Group has identified 3 key elements to keep Singapore’s trade and transit hub leading the competition.
Doubling Down Our Commitment to Digitalisation
The dynamics of globalisation is evolving, and this impacts what and how we define competitive advantage in the coming future. Our commitment to digitalisation continues by strengthening our IT capabilities and drawing up our long-term plan on specific areas where digitalisation can empower us to the next stage of the trade hub of the future. We involve innovation, automation and enhancement of our warehouse infrastructure where we can leverage technology to improve efficiency and cost performance. As a transit hub, time and visibility is of essence in connecting the world’s goods and services. Digitalising areas that matter keeps us informed to anticipate potential challenges or untapped opportunities.
Nurturing Leaders of Tomorrow
To complement our commitment to continued digitalisation and enhance our strategic position as a key trade and transit hub, we work to bringing onboard qualified and experienced individuals that fit our company ethos with the talent and skills. This includes empowering our employees in new skills and knowledge through training courses to remain relevant in these ever-changing times.
Likewise, we believe the logistics landscape will undergo massive change in the coming 10 to 2 years. PLG is actively participating in Singapore’s tertiary student programmes to nurture the curiosities and build Singapore’s next generation of logistics specialists and leaders for the future.
With careful succession planning and retaining individuals who are committed to the long-term successes of the organisation, PLG can serve as a powerful nexus to attract international organisations, enterprises to make Singapore its regional headquarters and avenue for newfound opportunities.
Ready to Seize the New Opportunities
Commenting on Budget 2021, Prime Minister Lee expressed that “When the sun shines again, we must be ready to seize new opportunities.†This timeless adage to be prepared holds even greater weight now in building Singapore’s trade and transit hub of the future.
PLG’s agility, responsiveness, dynamic resources, and capabilities enable us to duplicate our robust infrastructure in Singapore and across our overseas offices. This gives us the first-mover advantage to capture opportunities that arise.
This is seen in our business presence in China, capturing opportunities in China’s Belt & Road initiative. Likewise, PLG is penetrating new emerging markets including Vietnam and entering Laos with a logistics park and air cargo terminal project. To expand Singapore’s presence in the international stage, PLG continues to expand collaborations with partners in international trade associations such as GLN and WCA.
PLG mobilises its own network of stations in Southeast Asia and Asia Pacific to channel a larger proportion of services and cargo through to Singapore for processing. With preparation now, we are in a position to take action when that opportunity appears.
Forging Ahead as OneAs
Singapore continues to navigate global shifts and broad contours brought by COVID-19, PLG will continue forging ahead with more best practices and to integrate capabilities to support various value chains. This aligns with Singapore’s broad direction for the future, where sustainability is part of the nation’s business strategy. Leveraging on new capabilities ensures we continue enhancing Singapore’s strategic position as a trade and transit hub for the present, and for our future.
For Chinese version: å°†æ–°åŠ å¡å›½é™…贸易和è¿è¾“枢纽的优势强化