However, the significance of digitalisation goes far beyond mere trend adoption; it entails cost reduction, adaptability, optimising operational efficiency, and gaining a competitive advantage. To ensure that their supply chains remain adaptable, reliable, and cost-efficient, MSMEs can look into collaborating with technologically forward logistic companies and suppliers to protect their supply chains.
In the dynamic Southeast Asian economy, Micro, Small, and Medium-Sized Enterprises (MSMEs) are undoubtedly the unsung heroes in terms of driving growth and employment. To put things into perspective, MSMEs account for a whopping 97% of businesses in the region, contributing up to 28% of a country's economic output.
The region recognises the importance of these vital entities, having dedicated MSME stock markets in Indonesia, Malaysia, the Philippines, and Thailand to bolster financing. As MSMEs pivot towards vertical sectors like ecommerce, finance, and tech, they face mounting obstacles, ranging from larger competitors with abundant resources to geopolitical tensions. In today’s evolving digital landscape, staying competitive demands for MSMEs to embrace digital transformation in order to remain agile and efficient. This is especially crucial for retail businesses involving cold chains and cross-border logistics support.
