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Complexity Of Businesses Is A Crucial Driver For The Supply Chain Management Software Market

Supply Chain Management Software Market - Opportunities And Strategies – Forecast To 2030

Supply Chain Management Software Market - Opportunities And Strategies – Global Forecast To 2030

The Business Research Company’s Supply Chain Management Software Market - Opportunities And Strategies – Global Forecast To 2030

LONDON, GREATER LONDON, UK, December 6, 2021 /EINPresswire.com/ -- The supply chain management software is expected to be driven by cost savings caused by utilizing SCM software. With businesses going global and increased competition, supply chains are getting more complex. The number of suppliers, orders received/completed, variety of product offerings and information generated all have increased substantially. Through the use of SCM software, complexity can be reduced along with cost and resource savings. The need for companies to remain relevant in the market amidst the highly competitive conditions is a crucial driver for the growth of the SCM software market. For instance, Home Depot, one of the biggest retailers selling home improvement and construction products and services, used to have separate logistics management departments in every single physical store to utilize replenishment and store management-related activities. This was costly as each store had to process the replenishment orders to get the required materials from the suppliers separately. However, with the help of technology and the right SCM software solutions, Home Depot’s new centralized inventory and replenishment department’s overall performance improved demand forecast accuracy and decreased the cost of operations for the replenishment orders.

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One of the trends in the supply chain management software market has been the implementation of the digital supply chain twin (DSCT). A DSCT is a digital copy of the physical supply chain, which uses the most relevant data. The DSCT is useful for making local and end-to-end decision making. DSCT can play a role in short-term planning and execution, sales and operations planning, and long-term planning. Some of the companies that use the DSCT technology include Datumix, Cognition Factory, SenSat and Logivations. Datumix uses this technology in its warehouse and inventory handling to monitor the performance of machinery and other equipment. SenSat uses cloud-based digital twin solutions to simulate real-world conditions in real-time. Logivations uses AI-based Web-to-Modeling & Optimization (W2MO) software to accurately create the digital twin of a logistics network.

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The market size is expected to grow from $19.02 billion in 2023 to $22.15 billion in 2025 at a CAGR of 7.9%. The market is expected to grow and reach $29.02 billion in 2030 with a CAGR of 5.6%.

Major players covered in the global supply chain management software industry are SAP SE, Oracle Corporation, Yonder Group, Inc. (JDA Software), Coupa Software Inc., Infor Global Solutions.

TBRC’s supply chain management software market report can be segmented by product into transportation management system, warehouse management system, supply chain planning and procurement software, by industry vertical sector into consumer goods, healthcare & pharmaceuticals, food & beverages, transportation & logistics, others, by type of user sector into small & medium-sized enterprises (SMEs), large enterprises.

The top opportunities in the global supply chain management software market segmented by product will arise in the procurement software segment, which will gain $1,709.2 million of global annual sales by 2023. The top opportunities in the supply chain management software market segmented by industrial vertical will arise in the others segment, which will gain $1,160.6 million of global annual sales by 2023. The top opportunities in the supply chain management software market segmented by type of end-user will arise in the large enterprises segment, which will gain $2,729.3 million of global annual sales by 2023. The supply chain management software market size will gain the most in the USA at $1,421.2 million.

Supply Chain Management Software Market - By Product Type (Transportation Management System, Warehouse Management System, Supply Chain Planning And Procurement Software), By Industry Vertical (Consumer Goods, Healthcare & Pharmaceuticals, Food & Beverages, Transportation & Logistics), By Type Of User (Small & Medium-Sized Enterprises (SMES), Large Enterprises) And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides supply chain management software market overview, forecast supply chain management software market size and growth for the whole market, supply chain management software market segments, and geographies, supply chain management software market trends, supply chain management software market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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