Singapore's Logistic and Suply Chain

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Strategic Planning in the Present and Future

For addressing these challenges, effective strategic and approaches should be implemented. First of all, in order to face the increasing competitions from neighboring regions, the physical hub capabilities should be enhanced to increase the attractiveness as a physical hub port. Singapore ought to continue building its physical strengths to eliminate business impediments such as regulations and costs. In addition to actual handling of goods, the virtual hub capabilities should also be developed. Singapore should aim to be the core of logistics controlling and planning and expand its trade broader. Secondly, the way or technologies of starting, managing, and controlling the procedure logistics and supply chain should be continually reform to come up with the digital revolution and global economy changes and defend to risk factors such as cybercrimes. Secondly, to deal with the shortage of workforce, Singapore ought to not only enhance education and training but also attempt to import workers form aboard. Finally, the government should continually provide policy support to help the sector to face these challenges.

Conclusion

As the rapid development of the global trade and the process of globalization, logistics and supply chain sector is playing a critical role in global economy. Although many challenges faced, with the revolution of the technologies, enhancement of the hub capabilities, improvements of the managements and policy in Singapore’ logistics and supply chain sector, the sector will continue to contribute on national economy and promotion of the efficiency of Asia and even global trade. In this way it will make greater progress in the future.

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References

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http://www.spring.gov.sg/Developing-Industries/LOG/Pages/Statistics-Logistics.aspx

Department of Statistic Singapore. (2015a). Share of GDP by Industry. Retrieved on 7th November, 2015 from:

http://www.singstat.gov.sg/statistics/visualising-data/charts/share-of-gdp-by-industry

Department of Statistic Singapore. (2015b). Singapore in Figures 2015. Singapore: Department of Statistic Singapore. P. 6.

Global Agenda Council. (2013). Global Agenda Council on Logistics & Supply Chain Systems 2012-2014: Outlook on the Logistics & Supply Chain Industry 2013.Geneva: Published by World Economic Forum.

Kumar, P., & Singh, R. K. (2012). A fuzzy AHP and TOPSIS methodology to evaluate 3PL in a supply chain. Journal of Modelling in Management, 7(3), 287-303.

Sheffi, Y. (2012). Driving growth and employment through logistics. MIT Sloan Management Review, 54(1), 20.

Vitasek, K. (2013). Supply Chain Management Terms and Glossary. CSCMP. Retrieved on 7th November, 2015 from:

https://cscmp.org/sites/default/files/user_uploads/resources/downloads/glossary-2013.pdf

Wong, T. (2013). Singapore: A Leading Air Cargo and Logistics Hub. Retrieved on 7th November, 2015 from:

https://www.edb.gov.sg/content/edb/en/resources/downloads/articles/singapore-leading-air-cargo-logistics-hub.html