Will Singapore be the next supply chain hub for ‘consumer’ players?
The consumer business is looking to expand its footprint in Asia and is using Singapore as its gateway. According to research, Asia’s consumer market will be worth US$56 trillion by 2030.
As Singapore is a central location in the region, and a conducive business environment, with strong brand management and efficient infrastructure in place, it is the ideal location for consumer businesses to move their supply chain hubs here.
The Singapore government has been investing significant resources to promote Singapore as a strategic location for companies to start new supply chain Hubs here. With such support in place, we can see potential growth in the market with a flow of multi-million dollar investments from consumer goods companies in to Singapore. The need for logistic hubs, research centres and headquarter operations will generate career opportunities not just in professional services like finance, legal, HR and administration, but also exciting positions in end-to-end supply chain management. These companies are looking out for high calibre candidates that have experience in the start up supply chain environment and who are willing to help in the initial set up process.
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Singapore is recognised as a leading logistics hub. It is renowned for its world-class port infrastructure, efficient customs and excellent connectivity. Many existing companies are using Singapore to be the destination for their goods to be distributed to other countries via the Singapore port. This helps the economy and job market have more movement for the core activities for the 3PL market. Being the regional hub to industries like Pharmaceutical, Electronics, Chemicals, Energy, Marine and other relevant industries also allows foreign talent to be brought in to fulfill these jobs.
To keep up with the expansion growth of the supply chain industry, the Singapore government has also recognised the need to boost the awareness and importance of identifying the right companies to open their logistics and distribution centres. This helps to create good sustainable jobs. Singapore has numerous major logistics companies - almost 20 of the biggest players operating from here. These logistic companies have also set up their regional or global headquarters to operator from Singapore which in turn creates more jobs to be filled in the expat market boosting different talents from around the world.
With this boost of promoting and setting up new supply chain hubs it goes without saying that there will be a change in market trends. To better understand where the future with this consumer industry is headed, and what it means for you, feel free to reach out to me for a discussion.
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