When it comes to digital commerce readiness in Singapore, Manufacturing SMEs are at a crossroad. SMEs tend to focus only on managing their core business and their margins, so innovation and digital commerce will inevitably fall by the wayside. In the meantime, companies (and countries) that proactively include digitalisation in their plans will increase their lead over the others. This is especially true for companies where margins are slim, or that have complex configuration and calculations, like Engineer-to-order (ETO) and Make-to-order (MTO) industries.
Singapore Economic Development Board (EDB) recently released news regarding the Business Expectations of the Manufacturing Sector. Whilst these are generally on the positive end, we want to give you insights into how manufacturing businesses can amplify these effects via digitalizing their sales operations.
The annual CommunicAsia and Enterprise IT Asia 2017 hit our sunny shore of Singapore and In Mind Cloud was there to check out what innovative technologies were offered and how that reflects Singapore's progress in participating in the digital economy.
SMF's Digital Commerce Interest Group Offers Support
Digital Transformation, Industry 4.0, Digitization – these buzzwords are taking over the business conversations around the world. But why is it that companies in manufacturing and engineering industries feel that topics such as digital commerce are not relevant for them?
Budget 2017: Singapore To Help SMEs To Go Digital And Embrace Innovation
Leveraging digital technology and embracing innovation are the key capabilities for businesses to stay competitive and grow, Finance Minister Heng Swee Keat said in his Budget 2017 speech on Monday (20 Feb 2017). The speech led up to the announcement of the SMEs Go Digital Programme that aims to help SMEs in Singapore to participate in the Digital Economy and leverage data as an asset.