Assignment 1 Question
In 1995, Singapore’s top economic planning agency, the Economic Development Board (EDB) initiated the idea of developing local Singapore domestic capabilities in logistics and supply chain management. The rationale was to develop Logistics and Supply Chain sector as an important economic pillar of Singapore. Today, this sector is significantly contributed to the Singapore’s economic development. Like many other sectors in Singapore, Logistics and Supply Chain sector also faces some challenges from various factors. In this assignment, students need to discuss the contributions, the challenges and the improvement strategies in this sector. By using micro/macroeconomic concepts to discuss how this sector continues playing an important pillar for Singapore economic growth. Obtain and discuss the relevant economic evidence to support all the position statements.[20 marks]
The project is suggested including or answering all of the following items or questions:
1) Introduction(2 marks)
– What is the logistics and supply chain sector?
– What does this sector mean to the Singapore economy?
2) Contributions** of this sector to the national economy(4 marks)
Air cargo and air transport, sea cargo, warehousing, IT infrastructure and decision support system for logistic, transportation for logistics, security for logistics, quality in logistic…………..
(**creating jobs, generating wealth, promoting trades).
3) Challenges facing by this sector in the present and future(4 marks)
Shortage of skilled and unskilled talent, dependency of regional or global economy, competition from other regional logistics hub, digital media revolution, cyber-crime, government regulation and deregulation, cultural change, terrorism, natural disaster ……..
4) Strategic planning by this sector in the present and future(4 marks)
Training and education, government tax policies, innovation, digital participation project, security and regulation, global innovation ………….
5) Conclusion: the outlook of the logistics and supply chain sector in Singapore economic development.(4 marks)
6) Referencing and Structure Formatting(2 marks)
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