The Logistics Industry: An Analysis Of The Logistics And Supply Chain Industry

Introduction

What is the logistics and supply chain sector?

It is the process of planning, implementing and controlling the procedures to achieve an effective transportation and storage of goods system. From the point of origin to the point of satisfying customer’s consumption requirements, an active supply chain management will then step in to ensure smooth flow of information from supplier to manufacturer to wholesaler to retailer and lastly consumer. A good logistics and supply chain sector will then be able to maximize consumer’s value and achieve a sustainable competitive advantage.

What does this sector mean to Singapore’s economy? (Need to check through this portion)

This sector is a critical pillar supporting Singapore’s economic development and growth. There is a sharp increase of investment from the West as Asia is becoming the new economic powerhouse therefore Asia countries need to accommodate this incoming interests as fast as possible. Singapore has been progressing well in the Logistics and Supply Chain sector in recent years.

The World Bank has ranked Singapore as No.1 Logistics Hub in Asia in the 2012 and 2014 Logistics Performance Index. In 2010, there were more than 7,000 logistics companies in Singapore who are employing over 180,000 people. The industry also contributed 9% to Singapore’s GDP. Today, Singapore is a prime

Such efficiencies in information management are evidenced through platforms such as TradeNet. TradeNet provides a one-stop platform simplifying all documentation, saving time, costs and improving efficiency. It also allows traders and freight forwarders to apply for and receive trade permits from 35 controlling agencies for the purpose of import, export and transhipment of