Turning Challenges into Opportunities in Singapore’s Wholesale Industry

Singapore, as a commercial and trading center, is home to a booming wholesale trading industry. Nevertheless, with development comes the unavoidable problems. The industry mainly deals with the particular challenges such as irregular demand due to global market instability, difficulties in cross-border trading, and complicated logistics in the supply chain. Even if they are not specific to wholesalers, issues like staff retention during changing workplace demands and the adoption of digital transformations are common across several industries in Singapore. These issues drive wholesale firms to look for effective methods, particularly in HR and workforce management.

Transportation of wholesale industry obstacles

The wholesale sector in Singapore has to deal with certain distinct challenges. One big challenge is the difficulty of controlling fluctuating demand, which sometimes creates a burden on inventory management and agile supply chains. What even more is, this sector also faces the trouble of cross-border trading, which means working with different currencies and regulations and hence requires a keen eye in this regard.

Furthermore, the personnel supervision problems like the digital transformation issues are troublesome, not only for wholesalers but also for numerous sectors. Weaving through these changes means reinventing HR approaches with the intent of better staff engagement and operation optimization. To tell the truth, the long service payment scheme and efficient rostering systems are the two critical points that could help in both the retention of talent and the productivity in such a volatile work environment.

Profiting from HCM in the Wholesale Sector

A full-fledged Human Capital Management (HCM) system installation can offer the answer to many of the challenges faced by wholesalers. HCM systems are meant to enhance the efficiency of human resource management practices and their alignment with the overall performance of the firm. Thanks to the high automatic capabilities of the payroll systems, these software solutions seem to be the easiest way to manage correctly long service payments and CPF contributions, with the high level of quality and observance.

Another benefit of HCM systems is the improvement of roster systems, which result in both the optimization of workforce scheduling by operational streamlining and avoiding the non-compliance with the labor laws. As an additional value, the HCM software often comes with sophisticated employee performance assessment tools. Such tools allow wholesale firms to evaluate and involve their employees effectively which also has an effect on the general retention rate and productivity in a positive way. HR systems and instruments like HRMS and HRIS cooperatively facilitate the firms to accomplish their operations more efficiently, to enforce HR transformation and to keep up with the competition.

Guidelines for Shifting to HCM Successfully

For wholesale enterprises intending to install HCM systems in their operations, there are recommendations to adhere to. The first and foremost step is to analyze carefully the requirements that are peculiar to your organization. Enterprises should engage the stakeholders in all departments to be sure that the selected system matches with the overall objectives of the business.

Furthermore, the training along with the change management issue is pivotal for integrating new HRMS software into the daily functions of the staff. That should consist of the workshops and the continuous support to give the users an opportunity to practice new features and ultimately to bring about the smooth and maximized system transitions.

Key Features of Multiable aiM18 HCM System

The Multiable aiM18 HCM system brings with it the crowd of modern services which are a full-fledged solution for the wholesale industry’s human resources:

• Rule-based Workflow Engine: It maximizes business process automation and hence elevates efficiency across HR tasks.

• Intelligent Rostering: It guarantees that local employment laws are complied with while optimizing workforce scheduling.

• A.I. Readiness & Full Customization: It meets the unique business reqs for tailored-made HR solutions.

• Unlimited Dimensions of Headcount: It grants flexibility in the arrangement of various workforce structures.

• ISO:27001 Certified Encryption: It fortifies critical personal data through strong data security measures.

IRAS Compliance and Endorsements

Multiable HCM is ranked as the best HR solution in Singapore not only because of its IRAS approval but also because it has been named the top rated software in the category of software compliance to controls in the Auto-Inclusion Scheme (AIS) for Employment Income. This validation attests to the reliability of the program and its commitment to compliance thus making it easier for the wholesale channel to handle their payroll processes without a hitch.

What is Multiable HCM?

Multiable HCM is a cloud-native HCM (aka HRMS, HRIS or HR system). With over 6,000 customers, Multiable HCM gains positive feedbacks from customer across different sectors, from manufacturers, distributors, retailers, service providers to NGOs. The renowned no-code approach saves customer a big sum of customization costs and countless hours of implementation man-days.

What is LAIDFU (Let AI Do for You)?

LAIDFU is an AI tool for enterprise to build their own AI agents to perform various business AI tasks.

Proprietary EKP (Enterprise Knowledge Partitioning) technology eases CEO’s concern about trade secret leakage which often occurs in most AI agents / chatbots in the market.

EKP removes the hurdle of business AI adoption by most companies in using sensitive corporate data.

Powered by no-code approach, deployment of LAIDFU incurs far less developers (and development costs) in comparison with other AI tools.

LAIDFU empowers business, with or without an HCM system in place.