Transparency Market Research
With advancements of technology and easy access to information, the pressure on companies to stay ahead in the league has been increasing. The focus has shifted from boosting sales to improving customer experience. This is where keeping track of the supply chain management comes into play. To ensure smooth transfer of the product from one section to another until it reaches the consumer, supply chain management software is used. This gives impetus to the global supply chain management software market.
Supply chain management software are not only helpful for manufacturers, but also to consumers. The facility to see the status of their delivery develops trust among consumers. Furthermore, companies are able to seek feedback from consumers about the delivery process and personnel. Such aspects help improve the supply chain management of the company. These insights boost growth in the supply chain management software market.
In case of expensive products, both manufacturers and consumers are able to ensure safety and security of the product by tracking it. On the other hand, it also helps farmers who send their produce to food and beverages industry. It has also helped restaurants and online food applications who promise delivery in short time. This pushes demand in the supply chain management software market.
Developers across the world are working on improving the efficiency of software and adding new features to make it more user friendly. At the same time, lowering the cost is also a priority. Such developments are positive for growth in the supply chain management software market.
Supply chain management is an integral aspect of companies, owing to the growing importance of creating integrated relationships with suppliers and customers. Rising global competition and the need for inter-collaboration is pushing companies to streamline their supply chain to make it more accessible, real-time, and agile. Some of the major issues in the management of supply chain include cost, complex inventory management, pipeline coordination, scalability, and information sharing. These issues are being efficiently solved by various supply chain management software available in the market.
Supply chain management software provides a real time analytical platform that manages the flow of product and information across the supply chain network. These software are designed to enhance and strengthen the supply chain operations in an organization. The software manages everything from sourcing, production, inventory, and transportation and managing the product demand. Supply chain management software can be customized based on the enterprise requirements. Some sub-categories of supply chain management software are transportation management system and warehouse management system among others. The transportation management system software guides the movement of raw material to and from the warehouse. It also handles and monitors the movement of final goods. It handles the customs and freight route to ensure continuous efficiency in delivery.
The supply chain management software market is driven by the continuous need for comprehensive software to manage the complex supply chain network. Small and medium enterprises are increasingly expanding their business globally The growing complexity in supply chain management due to such business expansion is creating huge demand for software solutions that can manage product and information flow in real time. Cloud computing is expected to further accelerate the adoption of supply chain management software. Omni-channel retailing has led to the rise in adoption of warehouse management software (WMS) with large number of bricks and mortar stores shifting toward e-retailing. The growth of new selling destinations and sourcing markets with a globalized supply chain has led to the need for simulation based modelling which has in turn given a boost to analytics based procurement solutions. The supply chain management software market is witnessing a strong trend of merger and acquisition leading to consolidation of the market. Another major trend in the market is the demand for cloud based supply chain management software from small and mid-sized companies who usually look for cost effective and efficient solutions. The visible shift toward SaaS based delivery has made overall investment in SCM technology more attractive. The market offers several opportunities including incorporation of new digital technology such as machine learning, internet of things (IoT), and in-memory technologies among others.
The supply chain management software market can be segmented on the basis of deployment model, industry vertical, application, and region. The deployment model segment can be sub-categorized into cloud based and on-premise. The industry vertical segment can be sub-categorized into healthcare, pharmaceutical, retail, manufacturing and others. The application segment of the market can be further sub-categorized into planning, execution, and procurement. In terms of region, the market can be sub-categorized into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The market is expected to show strong growth in developing regions such as Asia Pacific and Middle East & Africa. The number of mid-size companies in these regions are growing and trying to expand their business, thereby creating demand for supply chain management software.
Key players operating in the supply chain management software market include SAP SE, JDA Software Group, Inc., Infor SCM, Oracle Corporation, Descartes Systems Group, IBM Corporation, SPS Commerce Corporation, HighJump WMS, WiseTech Global, QuickBase, Inc., Arkieva, and Linbis, Inc.
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