Speech by MOS Alvin Tan At The Workforce Transformation & Launch Of Job-Skills Integrator (JSIT) For Wholesale Trade Sector

Mr Kok Ping Soon, Chief Executive Officer of Singapore Business Federation (SBF)

Ladies and Gentlemen,

Introduction

1. Good to be at the inaugural Workforce Transformation event for the Wholesale Trade industry.

2. Wholesale Trade has grown to become Singapore's largest sector, accounting for more than 20% of our GDP and approximately 300,000 jobs last year.

a) WST comprises more than 50,000 firms that engage in the business-to-business (B2B) sale of a wide range of goods, from commodities to industrial and consumer products, as well as the storage and warehousing of these products.

3. One of our Trade 2030 priorities is to grow globally competitive traders.

To do so, we must keep up with the times, and understand trends in the trade so we can not only thrive, but transform our processes, operations and even business models.

The two trends, that we have spoken ad nauseum, is of course, digital and green.

Trends impacting Wholesale Trade

4. First, digital.

AI and big data analytics will significantly transform the sector. For example, in supply chain management, AI can optimise processes, by helping us forecast demand, manage inventory and plan routes.

a) In a survey conducted by The Economist last year, businesses that have integrated AI reported more than 30% reduction in overall trade operation costs and a similar enhancement in resource and supply chain planning.

b) Enterprises can also use business intelligence software to generate key business insights, by analysing data and forecasting trends more rapidly.

5. Many of you would be familiar with Government's push towards digitalisation and have already been using digital solutions. And there is more to do. More opportunities use advanced tech and data driven tools to help make your business more efficient and competitive.

6. A good example is local crockery wholesaler Sia Huat. Sia Huat implemented a delivery management software that automated three key processes:

• the assignment of delivery jobs, • the calculation of delivery routes and

• the generation of delivery receipts.

This helped Sia Huat streamline their operations and eliminate paperwork, and handle more jobs in the same amount of time.

What about Sia Huat's workers? Well, through this transformation, Sia Huat reskilled their senior driver, Alif, to take on a newly created role as a Route Planner.

Today, Alif takes charge of creating delivery jobs, tracking order statuses, and reviewing delivery performance using the company's delivery management software.

He also uses digital communication tools to coordinate drivers and manage data across multiple platforms.

7. Second, green.

We all know about the global shift towards a green economy. This shift is already driving demand for more sustainable products and green supply chain solutions. This creates new opportunities.

a) For example, local steel solutions provider Mlion, with EnterpriseSG's support, successfully launched GoTagID, its proprietary RFID tagging solution that enables users to track the carbon footprint and manufacturing data of steel products.

b) Besides expanding their tech team to support this project, Mlion also redesigned jobs for its existing staff to support the project. The provided sustainability training for their staff.

GoTagID has created new business opportunities for Mlion in Indonesia, allowing green steel manufacturers to trace the carbon footprint and environmental certifications unique to each steel product.

8. The green transition is also good news for your customers.

Companies can tap on Workforce Singapore's (WSG) initiatives such as the Career Conversion Programme for Sustainability Professionals, which helps employee reskill and upskill to take on new job areas such as carbon management, sustainability reporting and implementation of carbon projects.

There is also EnterpriseSG's Enterprise Sustainability Programme (ESP), which helps companies kickstart their sustainability journey. It conducts sustainability courses and helps companies develop sustainability strategies, optimise resources, and adopt sustainability standards.

9. These schemes allow us to tap into these trends in the sector, and there are 2 new initiatives I'm pleased to share with you today to further drive and support your transformation.

JSIT for Wholesale Trade

10. To help companies redesign jobs and reskill employees, I am pleased to announce that the Singapore Business Federation (SBF) has been appointed the Jobs-Skills Integrator (JSIT) partner for the Wholesale Trade sector.

a) The initiative will help Wholesale Trade companies tap SBF's resources to address your human capital needs. And the initiative is supported by Enterprise SG in collaboration with WSG and SkillsFuture Singapore (SSG).

11. Over the next three years, SBF will also implement a suite of resources to help Wholesale Trade enterprises address placement needs, as well as potential jobs and skill gaps.

a) For example, SBF will assign Job Skills Advisors, who are experienced industry veterans, to advise companies on job redesign opportunities and implement jobs-skills profiling tools.

b) We recognise that many smaller Wholesale Trade firms may find it difficult to attract talent. Help is available! SBF will work with employment facilitation agencies to identify individuals with the right aptitude and fit for training, and to fill these jobs.

c) SBF will also concurrently review the training courses available, to curate new courses to help us upskill our Wholesale Trade workforce.

12. Please engage SBF and their team of skilled advisors!

Workforce Transformation Awards for Wholesale Trade

13. In addition to helping you transform, we also want to recognise those who have.

14. That's why I'm pleased to announce that we have established the Workforce Transformation Award for the Wholesale Trade Industry, which I am honoured to be presenting today.

a) The award recognises efforts of Wholesale Trade employers who have shown their commitment to upskill their workforce. It also highlights how they have strengthened their employees' career health and create higher value job roles through working with WSG via the Career Conversion Programme.

15. This year, we will present the Award to two exemplary companies, Lim Siang Huat and Franco-Asian Enterprises. Congrats to both companies!

a) Lim Siang Huat has transformed its Sales & Accounts Management Team. Its company transitioned from manual sales tactics to using data and digital tools to engage its customers and build its brand.

How did they do this? They implemented an automated system to manage their relationships with customers, and used advanced analytics to forecast sales, empowering its employees to work smarter.

b) Lim Siang Huat is also transforming its core operations and creating career pathways for its long-serving employees to take on new job responsibilities.

It has also trained their employees in critical areas like business intelligence and workflow automation, which has helped their employees become more efficient and more confident.

c) Franco-Asian Enterprises has undertaken comprehensive digital transformation for end-to-end trade management. They implemented enterprise resource planning and inventory management systems, and redesigned over half of its job roles. This includes roles in sales, logistics, finance and purchasing that they have redesigned to incorporate business intelligence, sustainability management, and process automation.

Franco-Asian Enterprises also appointed a team of digital ambassadors to lead its transformation efforts, and gather employee feedback on the job redesign process.

16. I hope these efforts I shared about today will inspire other Wholesale Trade companies to do the same.

Conclusion

17. In closing, as we inevitably continue our shift towards being more digital and green, at the heart of it all, is our people.

18. That's why we do what we do. To ensure that all of us, and the people whom we work with, steward, have the best chance to have meaningful, sustainable careers in what is an ever changing and competitive world.

19. So thanks again to our companies, please use the JST!

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