Image (GraphicStock) - Supply chains
In a new Computerworld Malaysia 'rapidfire' interview, Raymond Ng, who is vice president for Japanese technology and system integration company NTT Com Asia's vertical solutions, talks about the role big data and the Internet of Things (IoT) have in modern supply chain infrastructure in Malaysia and the Asian region.
I also asked Raymond to start with outlining some of the current pressing challenges for retailers, manufacturers and wholesalers as we are still in the wake of the 2017 predictions insights (see What's really in store for Malaysia's IT industry in 2017).
He has offered findings from NTT Communications' recent disruptive technologies survey, which noted that 94 percent of Asian retailers and manufacturers said they want to use such technologies to boost competitiveness. Raymond also advises leaders to transform without disruption.
Photo - Raymond Ng, Vice President, Vertical Solutions, NTT Com Asia
Let's start with what you see as the most pressing challenges for retailers, manufacturers and wholesalers in Malaysia and the Asian region in the next a year or so?
[RN} The top challenges are labour shortages, falling prices, intense competition, and faster time to market, which put immense pressure on the bottom line of Asian retailers, manufacturers and wholesalers.
We have pinpointed four key trends that enterprises should take note of in the next 12 months in our latest whitepaper "Digital Silk Road to Success".
Enterprises can use these trends as a basis from which to transform their business models and drive faster product and service innovation:
- Business outlook: 78 percent of large retailers, manufacturers and wholesalers from China, Hong Kong and Singapore have a positive outlook for the next 12 months in terms of new business prospects and revenue growth.
- Top three business challenges: Talent shortages and rising wages (23 percent); price pressure and increasing costs (19 percent); and competition (17 percent) are seen as the top three challenges for retailers, manufacturers and wholesalers in Asia.
- Top three barriers for technology innovation: About 50 percent of respondents rated stringent security and compliance regulations, legacy IT infrastructure, and complexity in IT selection and procurement as the top three barriers hindering companies from completing ICT upgrade projects.
- Urgency to overhaul supply chains to stay ahead of the competition: About 55 to 60 percent of respondents revealed plans to deploy IoT and big data to resolve challenges when carrying out digital transformation of their businesses.
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