How to push furniture expansion worldwide
Maersk has entered into a partnership with Castlery, a Singaporean furniture retailer. The aim of the agreement is to reduce waiting times for orders to one to two months, approximately three times less than the industry average of three to six months.
As Castlery expands into international markets including Australia and USA, which contributed to 80% of the firm’s total revenue, Maersk backs the strategy with both its land and seaside facilities.
This agreement will help Castlery scale its business in USA across 50 metropolitan areas with secured ocean capacity, improved integration between freight and warehousing fulfilment efficiencies, and more data sharing to enhance inventory management.
"This comes as an addition to long term ocean space commitments which in effect cuts out any unnecessary nodes that can put strain on Castlery’s supply chains,” said Rupesh Jain, managing director of Maersk Thailand, Malaysia and Singapore. (sh)