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Preparing for the future of logistics - the Singapore way

Yin Yin Lam's picture
Photo: Sarah Starkweather/Flickr
The government of Singapore recently outlined its vision for the country's future, describing how different sectors could harness technology, innovation and mega-trends in order to take the city-state to the next level. This approach includes a dedicated Industry Transformation Map for the logistics sector, which accounts for 7.7% of Singapore's GDP and over 8% of jobs. Logistics is also understood as a crucial enabler for other significant parts of the economy, such as manufacturing and trade.

How is Singapore anticipating the transformation of logistics?

Singapore has been considered a major logistics hub for quite some time, and is currently ranked first in Asia according to the Word Bank’s Logistics Performance Index. The sector, however, is experiencing significant transformations such as the rise of digitally enabled logistics services, and the emergence of new delivery capabilities (autonomous vehicles, 3D printing).

The Industry Transformation Map (ITM) will help Singaporean logistics keep its competitive edge in this rapidly evolving context, and aims to achieve a value-added of S$8.3billion (US$6 billion) by 2020. In particular, the ITM intends to strengthen innovation, productivity, as well as talent development across the logistics sector—including by leveraging trends such as artificial intelligence and collaborative robotics.