As businesses take a slow and cautious trajectory of re-opening, they must adjust to the new demands. Singaporeâ€™s Minister for Trade and Industry, Chan Chun Sing, recently commented that the pandemic is accelerating shifts in the global supply chain
. However, this could present opportunities to strengthen existing supply chains and build a better resilience against disruptions.
Many companies are looking beyond just the lowest cost factor, they also want to ensure that their operations can run as smooth as possible. This may require a re-assessment and re-building of supply chains. Getting additional warehouse space for rent may be vital in helping you to achieve this. But you must first figure out how to return to normalcy and fix the vulnerabilities. Here are a few tips on how to build a resilient supply chain.
Identify the gaps
The challenges brought about by an extraordinary event (i.e. the pandemic) are often exacerbated by existing cracks. Right now, supply chains arenâ€™t completely wrecked per se. But the drastic shifts in buying behaviours and restrictions in human movements have resulted in significant turbulence of supply systems. Businesses with pre-existing conditions such as inadequate forecasting and warehouse overflow have had a sharp rise in missed orders and service delivery.
Begin by identifying the real gaps in your supply chain. Ask yourself:
â€¢ Do you have reliable forecasting?
â€¢ How about warehousing?
Acquiring additional warehouse space for rent in Singapore
go beyond than just adding extra business expenses. With adequate forecasting, it ensures that you have adequate space for your inventory and operations, while ensuring the space is fully well-utilised.
Build an adaptive and agile supply chain
Once you have identified the gaps, review your production and inventory supply to gradually build a supply chain thatâ€™s agile and adaptive. Switch to a model that calls for continuous adjustments and responds rapidly to market changes.
The following steps can help you to make the switch:
â€¢ Increase collaboration across the value chain.
â€¢ Identify reliable and predictable suppliers and vendors.
â€¢ Identifying and securing warehouses for rent with strategic locations.
â€¢ Building more resilient transportation and distribution networks.
Splinter the supply chain
The pandemic has revealed that monolithic supply chains leave companies dangerously exposed. You can counter this risk by splintering the supply chain into smaller and more flexible units. For high-volume products, with relatively stable demand, existing supply chains could still be the best option. However, where the demand is volatile (whether high or low-volume), consider splintering to smaller, more agile suppliers and multiple warehouses.
So, if youâ€™re looking for an additional yet cheap warehouse for rent, our property at 18 New Industrial Road offers warehouses as well as small offices for lease
. Located in the East district of Singapore, it is located in the city fringe with accessibility via KPE and CTE expressway. This 6-storey B1 industrial building offers a professional corporate image with a revamped layout and faÃ§ade. The sizes of the units range from 587 to 2,625 sqft with 3.8m ceiling height and 15kN/m2 floor loading capacity. Selected units come with window, aircon and lights furnishings. If you need a warehouse office rental
, our subsidiary Work+Store offers smaller work and storage unit options that are suitable for start-ups, e-commerce businesses and entrepreneurs. Other facilities include 2 loading bays, 20-footer access, 24-hour CCTV & access, and complimentary parking for the 1st lot.
Tap into modern solutions and warehouse technology
Efficiency in the warehouse remains to be one of the most important strategic goals. Without an efficient warehouse operation, this can cause delays, poor levels of service and affect customer satisfaction. At the same time, warehouse managers are always looking to reduce areas that are more prone to human error and can lead to lower profits when trying to keep up with demand, boost operational efficiency, automate repetitive tasks and reduce error.
Some ideas on how you can make use of technology in your operations include:
â€¢ Adopt seamless transactions with clients over digital platforms.
â€¢ Digitize order picking and delivery to ensure accuracies.
â€¢ Adopt touch-free warehousing solutions.
Learn from this crisis to strengthen future supply chain
The stakes are high. Resilient supply chains will play a significant role in defining successful businesses. Get a head start when you invest in the right warehouse space. Our property at 38 Ang Mo Kio comprises of 3 multi-storey buildings with a corporate frontage, offering industrial warehouses for rent. It offers the standard capabilities and offerings of a general B1 industrial building, as well as provides in-house services like self-storage, lockers and a well-equipped event space rental fit for any occasion. Unit sizes start from 4,903 to 6,225 sqft â€“ with 4.5m ceiling height and 2.5kN/m2 floor loading capacity. Our subsidiary, Work+Store, is also available to provide small spaces to rent for business needs with a conducive environment. Other building facilities include 4 passenger lifts, 3 cargo lifts, in-house parking and season parking for heavy vehicles & cars.
Save more on your rental expenses with our current promotion! Enjoy 50% off rent per month on selected commercial and warehouse properties, for a limited time only until the end of June 2020. Terms & conditions apply.