The council's hope is for furniture firms to tap the growing global furniture industry, which is expected to grow at a compound annual rate to reach US$850 billion (S$1.17 trillion) in 2025.ĭeputy Prime Minister Heng Swee Keat, who was the guest of honour at the event, said: "I also hope that, in sustainability and many other areas, SFIC can use your term as chair to further strengthen intra-ASEAN trade and our region’s competitive advantages for a global market. SFIC president Phua Boon Huat said firms should also choose greener manufacturing options, with the growing emphasis on sustainability. Some examples of these partners include those in the healthcare industry and green solutions planners. They should also develop their ability to spot opportunities, for instance, by collaborating with unconventional partners to build new niches. Under the road map, firms should aim to be agile in order to jump on growth and supply opportunities that emerge in the region or globally through offering their goods on digital marketplaces and looking to procure digitally. On the supply side, there has been an increasing need for mature furniture firms to tap new markets to expand and develop nimbleness to handle unpredictable market conditions, such as the disrupted supply chains due to the pandemic.Īpart from the focus on solutions to cater to the growing pool of work-from-home employees, digitalisation and sustainability will be key thrusts for the furniture industry for the next five years in order to meet these challenges, said the SFIC.
0 kommentar(er)
