manufacturing innovation will drive change in workforce dynamics: market outlook 2020

10/03/2020 07:47

Singapore is a key innovation and R&D (research & development) hub in Southeast Asia. The city-state’s manufacturing and supply chain industries are the leaders in high-value, high-worth and high-tech sectors. Companies are drawn to Singapore because of its favourable intellectual property laws as well as pro-business initiatives and grants.

Governments and companies are looking at technology and advanced manufacturing as resolutions to ensure sustainability and be prepared for expansion when the market picks up again. It is imperative that companies have the right talent to drive change.

workforce planning in manufacturing

As more companies trial and implement new technologies, employees should expect their job scope to change during this period.

The latest technology developments related to manufacturing focus on innovation through data collection and analytics as well as predictive analysis to optimise supply chains. Roles related to next-generation manufacturing and involving 5G, data collection and analytics, machine learning and artificial intelligence will be created as part of the 4IR.

workers curious about lateral move, but not sure how to do it

Professionals in manufacturing and supply chain are inclined to move into high-growth areas such as medical devices, biomanufacturing and technology.

Candidates who are thinking of moving between verticals within the manufacturing and supply chain industries should properly assess their skills and experience.

Depending on the move and their career aspirations, if their skills are not fully-transferable, candidates may need to accept a lower job title and salary. However, this can be recovered depending on how motivated they are and the projected growth forecast of the particular sector that they want to join.

download the digital copy of the market outlook 2020 in manufacturing and supply chain

singapore market outlook 2020

key highlights in this year’s manufacturing and supply chain market outlook

  • how much of an impact will globalisation and innovation have on in-demand skills of the future
  • shifting priorities on talent and skills demand within the manufacturing and supply chain industries
  • how talent should approach decisions on making lateral moves between manufacturing verticals