About 46% of businesses in Southeast Asia plan to prioritize an omnichannel strategy in the next three to five years to ensure a consistent presence on all platforms and enhance the customer experience.
This insight was revealed in the “Building Back Better from the Pandemic: A Look into Supply Chains in the New Normal” report commissioned by TMX, surveying 250 decision-makers and senior executives in the fast-moving consumer goods, logistics, e-commerce, retail, and manufacturing industries in Southeast Asia.
The report also revealed that 40% of businesses have begun to build omnichannel presence, which encompasses diverse online stores as well as physical shops.
The report highlighted the need to diversify the value chain – covering third-party logistics providers, vendors, and shipping routes – as a recovery strategy from the pandemic. Currently, about 52% of those surveyed have started broadening their supplier base, while 35% are assessing third-party vendors.
TMX (Asia) president James Christopher said that while Covid19 caused a number of business challenges, it also presented opportunities to improve supply chains and operations, making them better equipped to manage future adversity.
In terms of talent, businesses have become more focused on the wellbeing, upskilling, and engagement of employees, placing more weight on people with leadership, initiative, and problem-solving skills and less on mere digital technology skills.
The report also showed that businesses plan to align digitalization efforts with physical and digital supply chains for full operational visibility and adopt better sustainability.