Although politically Thailand has seen some uncertain times, businesses in the service
industries, medical supplies and IT services still see growth
opportunities in the long term. IE Singapore's Centre Director for Bangkok offers tips and insights.
Thanks to widespread and
affordable wireless access,
"unwired" consumers are able to
use the Internet on their mobile phones. Thailand is a market with many such consumers. Learn how
one Singapore company found success in Thailand.
Trade between Singapore and Thailand has grown impressively over the years, as both
governments have provided structures in which trade and investment can be enhanced.
UPS Insights
By Paul Chee, Business Development Manager, UPS Singapore
The global economy is in a major downturn, economic activity has seemingly stalled and growth outlook has dimmed. Major industrial countries are already in recession and the economic slowdown is predicted to be deeper and more protracted than previously projected.
Asian exports are suffering as the world's major industrial economies fall into recession with the net exports in some economies already in the negative territory.
Indeed, the overall situation is a cause for significant concern and many businesses are being forced to make unpleasant choices to survive.
The current situation is changing the way businesses run in most sectors and companies using logistics are no different. They are now forced to review what they have and analyse their logistics systems to find ways to be more resilient and efficient, emerging with leaner and meaner supply chains.
Increasingly, companies are cutting costs, switching from premium to other non-premium services. While there are challenges, there are also opportunities to be seized.
Forward-looking companies use this period to revamp their supply chain, boosting internal efficiencies to get ready for the economic rebound. These companies will have the first-mover advantage when the economy picks up.
One of the most basic areas of supply chain management is transportation. However, SMEs need to know is that transportation is beyond getting goods from point A to point B across borders. They need to understand the different options and find the one that fits them best.
UPS has an extensive transportation portfolio that delivers goods of varying sizes and weights to over 200 countries and territories around the world. Based on the individual needs of each business, UPS can recommend the right transportation option.
Cost is likely to be one of the key considerations. While it could be cheaper to send goods via ocean or even land routes, one of the biggest trade-offs is the increase in time to get the goods to the customer. The longer it takes, the longer businesses have to wait for their payment, extending the cash-flow cycle.
UPS Express FreightSM is a hassle-free option that gives businesses peace of mind. It's a guaranteed door-to-door delivery service within three working days. The progress of the goods can be tracked online from the moment it leaves the door until it is accepted by the customer.
Businesses may also choose from one of two airport-to-airport services, where UPS will receive the goods from the airport in Singapore and ensures it arrives at the airport of the customer's destination. Pickup, delivery and customs clearance are available for an additional fee.
UPS is committed to the success of businesses in the global marketplace. With the ever changing economic environment, we will continue to support businesses according to their needs.
A complimentary service by www.iadvisory.com.sg
Name: Paul Chee
Company: UPS
Expertise: Import/Export
Market: Asia Pacific, Europe
UPS offers guaranteed time-definite and day-definite freight delivery based on your shipment's destination.
Brought to you by:
