SINGAPORE - The Singapore Productivity Centre (SPC) and DP Information Group (DP), released key findings on Thursday, from a sector-wide Retail and Food Services Productivity Benchmarking exercise held this year.
The aim was to let retail and food services know where they stood in the industry, and to encourage them to improve.
Mr Lee Yi Shyan, Senior Minister of State for Trade and Industry and National Development, told a seminar on Thursday that the exercise could also help companies understand their productivity performance against international standards.
A questionnaire was developed to assess the practices of the retail and food Services sector in the following key productivity aspects including operations and the use of technology.
The responses and financial information of 350 retail companies and 280 food services companies were compiled and analysed for the exercise.
SPC is following up with the companies to further assess their performance, and assist them to plug the gaps.
The centre has also developed new programmes based on the findings, to continue to help companies raise their productivity.
Mr Lee said: "I therefore urge our small and medium enterprises in the retails ans food services sector participate actively in the exercise to build a pathway for productivity upgrading."