SMEs Retailing in Malaysia: Challenges for Industrial Revolution 4.0 Implementation

Abstract

The importance of the retail sector to the Malaysian economy especially in this volatile environment caused by the Covid-19 pandemic would be more prominent. The retail sector under the current Industry Revolution 4.0 would be prioritized to align with the challenges of future growth for retail sales and employment. In the Industry 4.0 environment, retail companies must put enough resources in embracing the major changes for maintaining their competitive advantages. This includes adapting and developing backend systems, creating effective storage and distribution networks that make products available to consumers on any time basis, and offering maximum flexibility in the last-mile delivery options. Retail companies will need to evaluate the importance of innovative ideas such as crowdsourced distribution networks, radio-frequency identification (RFID), automated locator that shift the look of logistics when evaluating newer, nimbler distribution models, and multichannel marketing that consist of online and offline customer interface.

Citation

Hamim, H., Abdul Kadir, M.N. and Mohd Shariff, M.N. (2021), "SMEs Retailing in Malaysia: Challenges for Industrial Revolution 4.0 Implementation", Sergi, B.S. and Jaaffar, A.R. (Ed.) Modeling Economic Growth in Contemporary Malaysia (Entrepreneurship and Global Economic Growth), Emerald Publishing Limited, Leeds, pp. 1-15. https://doi.org/10.1108/978-1-80043-806-420211002