With the rise of Asia as the new economic powerhouse, organisations are looking towards the region to expand their business. There is a surge of investments pouring in from the West and the Asian region needs to move swiftly to accommodate incoming interests.
Today, Singapore is a prime location for major logistics firms, with 20 of the top 25 global logistics players conducting operations here. Most of them, like DHL, Kuehne + Nagel, Sankyu, Schenker, Toll, UPS and Yusen Logistics, have set up regional or global headquarter functions in Singapore.
With an expansive base of leading global logistics players, world-class infrastructure and excellent global connectivity, Singapore is the preferred logistics and supply chain management hub for leading manufacturers across industries, which include Avaya, Diageo, Dell, Hewlett Packard, Infineon, LVMH, Novartis, ON Semiconductor, Panasonic, and Siemens Medical Instruments.
Recognising the complexity of navigating Asia’s trade and regulatory landscape as well as the rise in intra-Asia trade, leading manufacturers are using Supply Chain Management as a differentiating competency for their global business. The growth in Asia is led by the large economies of China and India and the countries of Southeast Asia, Northeast Asia and South Asia. As such, the opportunities that companies are trying to harness are pan-Asian in nature, and not limited to one country. As more companies review and re-design their supply chains, Singapore has stood out as a leading supply chain hub with the presence of world-class service providers available to support their supply chain activities.
The World Bank ranked Singapore as the No. 1 Logistics Hub in Asia in the 2014 Logistics Performance Index. Singapore’s strategic location in the heart of Southeast Asia and at the nexus of major shipping lanes has made it an important logistics hub and conduit for world trade.