As per the Ernst and Young (EY) report, the ASEAN region’s businesses and retail companies should optimise their supply chains to drive growth. The companies need to balance between the just-in-case and just-in-time models, stocking in-house large inventories. As per the EY report, firms should feature digital twinning which is a digitised replica of an already existing supply chain, enabling companies to make strategic decisions via real-time data. The report unfolds that Vietnam’s Seaport Master Plan for 2021-2030 would reduce logistics costs, while Malaysia’s Industry4WRD National Policy would enable companies to feature digital technologies in the manufacturing sector. The study further holds that the four categories, including consumer goods, electronic manufacturing, healthcare equipment, and agriculture tech, would drive growth for the businesses in the ASEAN region.

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