The logistics industry is a key contributor to the global economy, ensuring the smooth movement of supplies and goods between suppliers, manufacturers, merchants and consumers. In fact, much of what we consumers take for granted in our everyday lives – well-stocked retail shelves, prompt delivery of ordered goods and uninterrupted supply of essentials – are thanks to the work of logistics professionals behind the scenes.
In Singapore, the logistics industry is a leading contributor to the economy, while playing a critical role in the city state’s function as a leading international business and trading hub. As a global logistics hub, Singapore is home to more than 5,000 enterprises in the industry. In 2018, the industry was also responsible for employing more than 85,000 workers in Singapore[i].
With that in mind, those looking to enter the workforce might be interested to know if a career in the logistics industry is still an attractive proposition. In this article, we will take a closer look at the industry and answer this question.
Demand for Logistics Remains Strong
The Covid-19 pandemic has affected everyone and caused disruptions in many parts of the global economy. The logistics industry was not spared as well, with many parts of the world observing stay-at-home notices and international travel grinding to a near halt.
“Even before the pandemic, the logistics industry was already gaining more prominence than before, largely due to the rise of e-commerce. In fact, it is precisely due to the changing landscape that companies will need knowledgeable logistics professionals to steer them through the changing times. The demand for logistics professionals makes this industry an attractive career choice,” said Mr Eddie Sng, Managing Director of Agility International Logistics and one of the Board Director for The Chartered Institute of Logistics and Transport Singapore (CILTS), in a recent email interview with PSB Academy.
However, the situation has not diminished the importance of the logistics industry in any way. In fact, the supply disruptions caused by Covid-19 has further highlighted the importance of the industry, which is responsible for ensuring that the everyday needs of people and businesses are supplied.
Growth Opportunities for Logistics Professionals
The logistics industry is often overlooked, as compared to the other fast-growing industries such as technology and life sciences. But the reality is that it is a highly important industry, providing the bedrock of the global economy by connecting suppliers and manufacturers, and retailers with consumers.
Beyond its importance, the logistics industry is also a highly dynamic industry that is innovating and adopting new technologies in response to emerging trends and new global developments.
Furthermore, notwithstanding the disruptions brought about by Covid-19, Singapore has always seen strong growth in its logistics industry. In fact, the city state’s logistics industry contributed around S$7 billion in value-added per annum (VA) in 2018, which represents a compound annual growth rate (CAGR) of 3.3% since 2015[ii].
Logistics professionals can therefore look forward to significant growth opportunities in the industry, both in deepening their industry expertise, as well as gaining knowledge and skill sets in new areas of specialisation.
Logistics Professionals with Niche Skills Are Highly Sought After
The logistics industry is one of the key contributors to Singapore’s economy[iii] and is crucial in ensuring that goods move from production and distribution sites to businesses, households, and consumers in a reliable and efficient manner.
Businesses and organisations from all ends of the supply chain that employ professionals with these niche skills vary – from commodity suppliers and product manufacturers, to distributors, retailers and e-commerce operators, to warehousing and third-party logistics players.
As the global supply chain transforms itself as a response to Covid-19, Trade and Industry Minister Chan Chun Sing detailed that organisations are progressively reviewing the way they organise their production to serve different markets, in response to the pandemic[iv]. From diversifying risk to adopting new technologies to meet the new consumer demands, the industry will see a strong demand for logistics professionals in the years to come to help businesses navigate the changing landscape.
Get Started
At PSB Academy, we offer logistics and supply chain management courses for those who are looking to join the industry or to sharpen their knowledge.
If you’re just starting out, the Diploma in Global Supply Chain Management will be a good start. Co-designed with the Chartered Institute for Logistics Singapore (CILTS), the diploma offers full-time and part-time modes that cater to your schedule. To better prepare our students for the working world, students are required to complete either a 6-month industrial attachment or a 3-month industry-based project.
After graduating, you can progress to either the Bachelor of Science with Honours in Global Logistics (Top-Up) with Coventry University, a top 15 UK university[v] or the Bachelor of Commerce (Supply Chain Management) with University of Wollongong, an AACSB-Accredited business school in Australia. You can also find out more about the experience of one of our students here.
[v] Guardian University Guide 2020
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