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Supply chain management is the process of handling a sequence of products & services. The process can be carried out within the origin of products to the efficient consumption of a product to the user. Supply chain management mainly designed to observe and relate production, distribution, and transportation of services and products. Liberalizing nature and subsequent propagation of e-commerce increased the demand for supply chain solutions rapidly, which effectively turns to drive the growth of the supply chain management market. E-commerce business offers advantages such as effective management, planning, and timely shipping of products and services to the consumers. The benefits made crucial opportunities for the adoption of an e-commerce business. Reliable logistic services are becoming a necessity for all the small and large industries. Logistic service requires efficient supply chain management determinations, which allows transporters to offer supply chain visibility and to control merchandise costs. Also, excellently handle different logistics operations, assisting them in making fast decisions.
Key Market Driver -
• Incorporation of new digital technologies such as Artificial Intelligence(AI), Machine Learning (ML), IoT drives the supply chain management market growth in the forecast period • Cloud-based deployments are expected to increase the substantial market investments in future
Key Market Restraint -
• Rapid growth in the business competition will lead to making a supply chain management complex
Cloud-based deployments can influence new technologies, cost savings, faster implementations, and will ultimately do businesses around the globe to adopt. Abilities of SaaS solutions and convenience of cloud security, the cloud-based deployments will increase in the coming years. Growth in cloud-based deployments will reduce maintenance charge, leading to a steady decline in the part of the services during the projection period.
Oracle Corporation is dealing with platforms such as database, hardware, software, cloud applications and different data infrastructures. The company offers valuable solutions for the supply chain management. Oracle company leading to integrate IoT, artificial intelligence, and machine learning technology in the supply chain management system, to make a more accurate, efficient and convenient system.
JDA Software Group, Inc. provides a robust, endwise retail and supply chain solutions. The solutions assimilate and enhance business planning, accomplishment, and labor force to rapid delivery of service as per customers’ needs and expectations. Under the supply chain management category, the company offers products and solutions such as enterprise supply planning, factory planning & sequencing, inventory optimization, etc. JDA Software Group is now putting efforts to improve the supply chain management platform by integrating with Artificial Intelligence.
Other Key companies summarised include SAP SE, Vanguard Software Corporation, Comarch SA, IBM Corporation, Aspen Technology, Inc., Infor, Kinaxis, PLEX SYSTEMS, and QAD Inc., among others.
Growth in the trend of IoT and cloud-based system adoption expected to present an opportunity for the supply chain management market. Data and IT security become a significant challenge for supply chain management with increasing massive data generation within the chain.
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North America is presumed to be the largest contributor to the supply chain management market. Manufacturers are relocating their manufacturings in the U.S. with the growing trend towards near-shoring and re-shoring. Due to this, the volume of freight and related inflation also increases in the country. To optimize the freight and address the challenges manufacturers expected better supply chain visibility. Which, in return, maximized the adoption of state-of-the-art supply chain management solutions. In the e-commerce industry, the trend towards omni-channel distribution advances, which drives market growth in the Asia Pacific. It has been involved in inspiring shippers to modernize their operations, thereby enlarging the demand for supply management solutions. Looking towards efficiency, improved productivity, and customer satisfaction with optimized cost, Europe also contributing to the growth of the supply chain management market. However, protecting internal data such as consumer and product information with associates across distributed supply chains, is a challenge originates with the General Data Protection Regulation (GDPR) in Europe. The most dynamic global automotive region is the Middle East and Africa. Concentrating on this, automotive logistics organizing a major conference on the growth and opportunities for the automotive supply chain across the region.
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