The COVID-19 pandemic has impacted, disrupted and forced businesses to evolve the way it operates – pushing business owners to rethink their strategies and approaches to remain sustainable.
Among other things, one such approach to adapt to the changing business ecosystem is a shift towards digital solutions, as people have begun to avoid physical contact in light of the ongoing pandemic.
The SME Solutions Expo, has also taken this route; becoming Malaysia’s 1st virtual SME expo, as well as being the largest virtual expo on products and solutions for SMEs in the region.
The expo features webinars with professionals who represent a multitude of diverse companies and brands that are leaders in their respective fields. One such brand was FedEx Express (FedEx), a subsidiary of FedEx Corp. and the world’s largest express transportation company, which provided insights to SMEs on how they can successfully pivot and digitize their businesses, through a seamless, end-to-end logistics solution, while leveraging on automation and digital tools to open doors to greater connectivity and possibilities for success.
The webinar covered an array of topics, including a discussion regarding the SME landscape amidst the Covid-19 era, Asia’s booming tech savvy middle-class market, the consumer shift pre-and-post pandemic, the intra-Asia opportunities as well as the digitalization of logistics solutions.
Among other things, FedEx stresses that the nation’s plan to move forward towards economic recovery is based on a drive to incorporate stronger SME digitalization. They also stated that the current situation is not completely hopeless, and that there are boundless possibilities for SMEs to take advantage of.
Said opportunities are being supported by a multitude of government-led initiatives which serve to encourage online spending and the use of digital applications in business. Additionally, a myriad of online platforms and solutions, such as MyAssist SME, are being proposed in order to help SMEs accelerate their digital journey to become truly transformative and digitally progressive businesses.
FedEx is also cognizant on the fact that that an unimaginable number of consumers are changing their shopping habits. People are now choosing to purchase many of their essentials online, and the trend is expected to stay. Among consumers who have been buying more since April 2020, up to 80 percent intend to continue online purchases of essentials in the future.
This highlights a growing need for retail establishments to quickly adapt and go online. E-commerce shopping platforms throughout the region are reporting an enormous inflow of new online sellers during the Covid-19 pandemic. This means there are rich opportunities for logistics providers to capture, and that physical retailers must accelerate their digital transformation or risk being left behind.
In summary, FedEx strategically emphasises three key areas that will pave the way for SMEs towards an effective end-to-end supply chain management solutions.
One of the key solutions would be the FedEx Ship Manager that will help businesses streamline and prepare shipping documentation, track shipments, check the rate quotes, request for pick-up online and many more. Additionally, FedEx Electronic Trade Documents allows businesses to automate and streamline customs clearance process, saving time and cost. Last but not least, the FedEx Global Trade Manager will give SMEs more control and visibility on their shipment in areas such as the estimate of the Duties and Taxes at the destination countries, specific regulatory information and also shipping advisories.
With that said, FedEx believes that by leveraging on digital technology and automatization, businesses both big and small will be able to provide sustainable solutions at scale towards the growth of their company, as well as e-commerce; all the while increasing operational efficiencies and saving on time and cost.
For more information on how SMEs can improve its supply chain efficiency and automate its shipping process, please visit www.fedex.com/en-my/shipping-tools/online-ship-manager.html.