TMX, an Australia-based supply chain transformation consultancy, has selected Thailand for the global launch of its "TMX Metaverse", an industry-first solution in terms of distribution centre design.
The company sees Thailand as a strategic alternative when companies relocate production bases from China to expand in Southeast Asia. Thailand has embraced digitisation and is developing mega-projects, such as the Eastern Economic Corridor, that serve supply chain facilities.
Moreover, Thailand promotes skilled employees in data modelling and graphic design, TMX co-founder and chief executive Travis Erridge told the Bangkok Post.
Thailand also has a large retail sector, including e-commerce operations such as e-marketplaces and social commerce.
TMX Metaverse is a tool allowing businesses to step into a virtual reality simulation and experience floor plans on a real, human scale during the entire design process, Mr. Erridge said. With the ability to visualise designs in the metaverse, businesses can improve decision-making and efficiency during the conceptualisation process by up to 50% in some cases.
"We found ongoing supply chain disruptions have set Asean economies back by a staggering USD $17 billion annually," Mr. Erridge said.
As the region's role in the global supply chain landscape strengthens in the wake of volatility in the rest of the world, businesses in Asia are increasingly considering ways to mitigate these disruptions and ensure greater supply chain resilience.
To effectively design a resilient supply chain, visualisation is key - this was what sparked us to pioneer this new technology.
"The TMX Metaverse not only brings future floor plans and concepts to life, it breaks borders by allowing businesses to work collaboratively in real-time throughout the design process, ensuring that the final outcome meets their supply chain needs," Mr. Erridge said.
The company chose Thailand as the venue for its global launch of the TMX Metaverse and has established its Asian head office in True Digital Park in Bangkok. In the future, the office will be its "Centre of Excellence" in terms of a data capability model and graphic design for use in its metaverse.
The company has spent more than $3 million over the past two years to ensure the security and stability of its metaverse.
With rapid changes in e-commerce and omni-channels, consumers can use any channels online-offline, both domestic and cross-border. Retailers and wholesalers need to manage their products and inventory as well as customise products to deal with consumer changes, Mr. Erridge said.
The company has invested $40 million into its global business expansion over the last two years, including in Asean, posting 360% revenue growth during the period.
TMX wants to double its global investments over the next 2-3 years, of which up to 50% will go to Thailand, he said.
This article was written by Suchit Leesa-Nguansuk and originally published by the Bangkok Post on March 24, 2023.