019 marks Singapore Bicentennial, which commemorate 200 years since the arrival of Sir Stamford Raffles onto Singapore shores. It is a time to reflect on the nation’s journey and prequel to SG50.
200 years is big achievement where we had witnessed past history of squalor, infighting and segregation that surfaced during some darker periods. Singapore has since also rapidly developed from a low-income country to a high-income country, with GDP growth in the city state amongst the world’s highest, at an average of 7.7% since independence and topping 9.2% in the first 25 years.
Notably, for our airport and seaport developments, Changi Airport and Port of Singapore have several feat achievements:
- 10 Times Airport Title –
Bagged the best airport title in the 20-year history of World Airport Awards
- 7 Consecutive Times –
Unbroken record for World’s Best Airport by Skytrax
- 31st Time –
Crowned the “Best Seaport – Asia” and “Best Green Seaport” at the 2019 Asia Freight, Logistics and Supply Chain awards (AFLAS)
- 1 Key Multimodal Transport Hub – Partnership collaboration between PSA and SATS
As we bask in the glory of our past success, we must remain steadfast to our values, which make Singapore a success. External conditions, such as the escalating trade war between the United States and China, continue to produce headwinds to global trade. Singapore, being an export-dependent country, is not spared from this. With recent articles stating that Singapore could go into recession in 2020 and Singaporeans warned of some fallout from the trade war, Singapore companies are particularly and understandably concerned.
Besides the imminent threats, we should also be watchful of the latest and future trends in supply chain and logistics. Many of such trends focus on smart, tech-driven management to reduce operating expenses and increase efficiency. Supply chain digitisation, artificial intelligence, knowledge work going global, use of software as a service model in supply chain technologies and enhancing supply chain visibility via business analytics on improved business forecasting and decision making are definitely the paths forward.
Importantly, paving the way for new business models and supply chain innovations via partnership collaboration in strengthening Singapore’s status, hopefully, can bring about an inclusive community benefit effect among all stakeholders in the supply chain. After all, collaboration takes Singapore further than competition. With all progressing as a whole, there is no winner unless the entire group crosses the finish line together. As one, we can then overcome any future challenges collectively.