Hanoi (VNA) – A forum discussing how tooptimise supply chains and competitiveness for enterprises in Vietnam tookplace in Hanoi on August 21.

The event was held by the Institute for Brand andCompetitiveness Strategy (BCSI) in partnership with Portland State Universityfrom the United States.

Speaking at the forum, President of the BCSI CouncilNguyen Van Nam said the concept of global supply chains is not new to Vietnamesecompanies. Since Vietnam’s shift from a centrally planned to market economythree decades ago, the country has set up trade relations with more than 180countries and drawn investment from over 100 countries.

However, most firms only participate in the secondarysupply chain, so the products they make don’t have high added value, he said.

About 21 percent of small- and medium-sized enterprisesin Vietnam joined the global supply chain while the percentages in Thailand andMalaysia are 30 percent and 46 percent, respectively. Thus, Vietnameseenterprises are less likely to benefit from the spillover effects of FDI firmsthrough the technology transfer, know-how and management skills, he added.

Jay Fortenberry, Lecturer at Portland State Universityand Chairman of the Fortenberry Group, said to optimise supply chains andimprove competitiveness, Vietnamese businesses must better manage supply chaincosts and customer demand.

It’s crucial that enterprises are in control of theircustomer services, the internationally-recognised leader in supply chainmanagement noted.

Daniel Wong, Lecturer at Portland State University, saidVietnamese firms are pioneers in leveraging the industrial revolution 4.0. Theyhave been applying advanced technology and IT solutions, and that means theyare on the right track, he noted.

Besides these strengths, Vietnamese entrepreneurs stillhave many “gaps”, especially in terms of knowledge, as they lack specialists intheir businesses. They should enhance management skills to better manage theircompany, Wong added.

Wong used to serve as Vice President of Logistics andSupply Chain Management at North Pacific and Director of Supply Chain processimprovement at Longview Fibre Company in Longview, Washington, the US. –VNA