Asia Supply Chains: A New Era

Under the pandemic, corporates have been looking for more efficient working capital solutions and digitisation for the supply chains. We conducted a bespoke Asian Supply Chain survey in Nov 2021 to speak with over 400 financial decision makers from organisations across nine markets in Asia Pacific and gained insights from them.

The survey focuses on how supply chains and working capital strategies in Asia are being reshaped, and how corporates are incorporating digitisation and sustainability into their supply chain management priorities.

Watch the video to find out the latest insights.

Download the report to find out the insights in Asia and the analysis of key markets in Asia Pacific.

Visit our global page to explore further insights on supply chains.

Next Generation Trade: Reshaping the future of global trade through digital technology

HSBC and the Hong Kong Trade Development Council (HKTDC) recently jointly hosted the ‘Next Generation Trade’ webinar, bringing together a range of experts and industry leaders to share insights on the key trends in digital trade and business digitalisation.

Boosting trade growth through digitalisation and diversified supply chains

Amid escalating trade tensions over the past few years, coupled with the impact of the pandemic on the global economy, the widespread adoption of digital technology has been creating new trends and rapidly reshaping the trade landscape. Aditya Gahlaut, Head of Global Trade and Receivables Finance at HSBC Hong Kong and Macau, noted that existing cross-border trade in services and data is experiencing significant growth – especially in the area of digitalised trade, where streamlined processes have improved efficiency and reduced costs, boosting the growth of global trade.

[Left] Aditya Gahlaut, Head of Global Trade and Receivables Finance, Hong Kong and Macau, HSBC
[Right] Benjamin Chau, Deputy Executive Director, HKTDC

Businesses are also actively adopting new strategies in this new landscape. Benjamin Chau, Deputy Executive Director of HKTDC, revealed that HKTDC has witnessed overseas buyers gradually moving away from purchasing from a centralised procurement location and towards using multiple locations in order to diversify risk, in addition to expanding online sales channels. Both of these trends are driving the adoption of digital technologies. Given the considerable progress made in a variety of Asian trade initiatives, and considering that the growth driver for global innovation is shifting towards Asia, Gahlaut and Chau both emphasised that companies should start taking notice of the growing Asian market – especially the regions that have vast potential, such as the Guangdong-Hong Kong-Macao Greater Bay Area and the ASEAN region.

Data is the key to digital transformation

During the webinar, a number of industry experts discussed how businesses can accelerate their digital transformation agendas as they adapt to this new era of digital trade.

The discussion focused on how data can make businesses more competitive. Alice Wong, Group Chief Financial Officer of Hong Kong Television Network Ltd, thinks that companies can leverage business data to identify gaps in market demand and make strategic adjustments, increasing innovation in their operations. Nick Wei, Regional Sales Director of Centric Software, said that digital technology has allowed stakeholders to establish a collaborative platform, enabling more flexible and cost-effective manufacturing and procurement processes for merchants and contributing to a green supply chain.

Shirley Kwong, Head of Business Development of Global Trade and Receivables Finance at HSBC, said that businesses can leverage the latest data from reliable third-party platforms for paperless credit assessment and monitoring processes. They can also use data to enhance the security and efficiency of those processes, noted Kwong, helping them to meet their financing needs more promptly.

The three speakers shared their tips on digital transformation in business. Wong emphasised to SMEs that the moment to adopt digitalisation is now: “Many might think that digitalisation isn’t relevant to their business, but if they stay put instead of keeping pace with change, they’re going to let a lot of opportunities slip away.”

Wei stated that businesses going through digitalisation must find the right solution: “When it comes to digitalisation, many businesses think that a set of installation systems is all they need, but it is also crucial to identify the issues they need to address across their different processes, including ordering, manufacturing, design and inventory, in order to prescribe the right solution.”

Kwong thinks that businesses undergoing digitalisation must be both bold and cautious: “SMEs need to find suitable solutions for bold adoption; then seek a reliable third party for execution.”

Reshaping the future of supply chains in Asia

Supply chains are evolving. The pandemic has created a challenging environment for global trade. We have conducted a bespoke supply chain survey in the middle of 2020 to gain insights from corporate treasurers and finance professionals. Watch the videos to find out more.

Survey summary

Global supply chains in transition

Funding the supply chain

Future supply chains – digital and sustainable

Building supply chains of the future

Blockchain: transforming the future of trade finance

Explore the groundbreaking end-to-end trade finance transaction on Corda.

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