Digital transformation is not just about technology

OVER the last decade, we have seen how in the context of a global crisis, the global digital narrative is capable of advancing in leaps and bounds. The Sars outbreak in 2003 was a watershed moment for Chinese Internet retail giants, as millions stayed home during the epidemic, driving businesses and consumers to buy and sell goods online. When the 2008 financial crisis hit, tech companies accelerated what is now the gig and sharing economy.

We saw the same fundamental shifts during Covid-19. Widespread stay-at-home orders and concerns over the virus have shifted the context of retail demand and supply almost completely online. While retail players have since moved quickly to adapt, digitalisation continues to be considered across every foreseeable aspect as the e-commerce boom sees no sign of stopping. Notably, Singapore's ambitions to become a regional and global e-commerce hub will see the nation strengthening its digital infrastructure, from digital connectivity to payments systems.

For the logistics industry, which plays a key role in the e-commerce ecosystem by moving goods from production to consumption, digitalisation is imperative but also abstract. Where do you begin? While digitalisation provides great benefits, it is hard for most to keep up.