Prioritising Supply Chain Visibility
Amidst Tariff Threats

by Vincent Tang, Vice President, Epicor

Singapore’s heavy reliance on open markets is vital to its strategic position as a global trade hub. According to a Deloitte report, Singapore’s economy grew by 4.4% in 2024, supported by recovery in global trade and resilience in key industries such as financial services, high-value manufacturing, and digital transformation. It currently has initiated 26 Free Trade Agreements (FTAs) with economies that represent over 85% of the global GDP. With these FTAs in place, businesses can access overseas markets easily and more efficiently. This has the added benefit of guaranteeing a continuous flow of supplies in and out of the country, even under challenging circumstances — an economic advantage that was in full effect during the COVID-19 pandemic. Singapore’s resiliency meant that it was one of just a handful of countries that maintained a free flow of goods and services without imposing export controls or restrictions. It further enhanced the country’s reputation as a trusted partner and reliable logistics and transport hub among businesses and the international community.

Enhancing Transparency in Global Trade Networks
Over the years, one side effect of the US tariffs on China is a surge in manufacturing opportunities across Southeast Asia. To capitalise on these opportunities, the region is expected to spend approximately US$300 billion Singapore’s heavy reliance on open markets is vital to its strategic position as a global trade hub. According to a Deloitte report, Singapore’s economy grew by 4.4% in 2024, supported by recovery in global trade and resilience in key industries such as financial services, high-value manufacturing, and digital transformation. It currently has initiated 26 Free Trade Agreements (FTAs) with economies that represent over 85% of the global GDP. With these FTAs in place, businesses can access overseas markets easily and more efficiently.

This has the added benefit of guaranteeing a continuous flow of supplies in and out of the country, even under challenging circumstances — an economic advantage in smart manufacturing by 2028, powered by significant investments from tech conglomerates such as Apple, Microsoft, and Intel. At the same time, Chinese automotive manufacturers are also looking into expanding their manufacturing capabilities in the region. The newly imposed tariffs and retaliation by economies spell lasting implications for global trade and economic growth. This new market landscape calls for greater operational resilience, one that hinges on real-time tracking of goods and shipments. Having data transparency is vital, and 87% of businesses see investing in supply chain visibility as critical to their operations. By analysing data through digital technologies such as cloud-based platforms, the Internet of Things (IoT), and artificial intelligence (AI), businesses can track and trace the movement of goods and materials from raw inputs to finished products that reach the end customer. Using data to track shipments, monitor inventory, and predict disruptions enhances accountability, making it easier to manage risk, reduce waste, and increase safety and security. Businesses can better mitigate risks, improve efficiency, and meet regulatory standards across different countries and regions.

Mitigating Disruptions with Real-Time Oversight Singapore’s investments in industries focused on digitalisation, AI, and sustainability have reinforced its position as a hub for highvalue economic activity. These strategies, combined with the development of best practices and the leveraging of FTAs, have contributed to reducing the number of businesses impacted by supply chain disruptions from 35% in 2023 to 22% in 2024. As disruptions will always be a reality of global trade, businesses must take proactive steps to mitigate the risks that may stem from these disruptions. This is why real-time visibility is key for real-time material tracking, transparent supplier networks, and effective inventory management. It is easier to monitor supplier practices and comply with industry regulations. Businesses, especially those with global operations, can quickly pinpoint and isolate problematic shipments or suppliers, minimising the impact of recalls or other corrective actions. Quality control issues can also be quickly identified and addressed, making sure that goods comply with international regulatory standards. Achieving complete traceability can seem daunting, but it’s a necessary step to improve efficiency, compliance, and risk management. Government initiatives such as Enterprise Singapore help streamline this process by providing market intelligence and advice on changing regulatory landscapes so they can adapt and respond effectively.

Building resilient networks with confidence
In today’s highly connected global economy, traceability has evolved from an add-on to a key strategic necessity. Businesses are under increasing pressure from consumers, regulators, and stakeholders to ensure they operate transparently, ethically, and efficiently. It’s a business imperative that’s crucial to Singapore and its position as a trusted global trade hub. To successfully capitalise on market demands and build resilient operations, businesses must actively implement strategies and systems that serve to improve supply chain visibility. This will enable them to be responsive, secure long-term competitiveness and drive sustainable growth amidst potential trade disruptions and evolving market dynamics

About the Author

Vincent Tang

Vice President for Epicor Asia with over 30 years of working experience in software industry. Managing 11 offices in Asia for both direct and channel business including operations in Hong Kong, China, Taiwan, South Korea, Singapore, Malaysia, Thailand, Indonesia and Vietnam. Strong knowledge on manufacturing industries, smart manufacturing and Industrial 4.0 initiatives. Skilled in Business Process, Enterprise Software, ERP, MES, BI, AI, IOT, CRM. Extensive experience in channel recruitment, enablement and development with strategic mindset. MBA from Hong Kong Baptist University and BSc in Computer Science from University of Hull, U.K.