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Supply Chain Management Software Market Will Grow at 9.7% Through 2022

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Supply Chain Management Software Market Will Grow at 9.7% Through 2022

by usiscc
December 8, 2019
in Supply Chain
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Supply Chain Management Software Market Will Grow at 9.7% Through 2022
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LONDON, Nov. 13, 2019 /PRNewswire/ — According to a report released by The Business Research Company (TBRC), supply chain management software market is expected to reach $10.57 billion by 2022.

Supply Chain Management (SCM) software manages the flow of products and information across the supply chain, thereby strengthening the supply chain operations in an organization. Software such as SCMs are used to bring equilibrium between supply and demand by improving business processes and plan the future needs by using algorithms which provide consumption analysis. The global SCM software market was valued at about $7.3 billion in 2018 and is expected to grow to $10.57 billion at an annual growth rate of 9.7% through 2022. SCM software can manage the complexities of the modern-day supply chain. With businesses going global and increased competition, the supply chains are getting complex. The number of suppliers, orders received/completed, variety of product offerings, information generated etc. all have increased substantially. Through the use of SCM software, the 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. View more details @ https://www.thebusinessresearchcompany.com/report/supply-chain-management-scm-software-global-market-report

Major players in the global SCM software market include SAP, Oracle, JDA Software Group, Inc., Infor Global Solutions, and Manhattan Associates.

Implementation Of SCM Software By Home Depot

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. After realizing that the de-centralization of the logistics management was a major issue, Home Depot decided to centralize those individual departments into one department in its corporate headquarters. With the help of technology and right SCM software solutions, Home Depot’s new centralized inventory and replenishment department’s overall performance improved the demand forecast accuracy and decreased the cost of operations for the replenishment orders.

Request A Free Sample Of The Supply Chain Management (SCM) Software Market Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=2380&type=smp

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Place a Direct Purchase Order @ https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=2380 .

Data And IT Security Risks May Limit SCM Software Market Growth

Supply chains are continuously evolving with data at the center of every stage in the value chain. With a huge amount of data generated, there is an enormous challenge in the form of data and IT security risks. Protecting the privacy and still sharing data across the supply chain is a major challenge which could become a roadblock for the SCM software industry. The 2014 Target breach was caused by lax security at an HVAC vendor wherein personal information of as many as 70 million people was compromised. The information stolen included customer names, credit or debit card number, the card’s expiration date and CVV number.

Data Protection And Privacy Regulations In The SCM Software Market

The General Data Protection Regulation (GDPR) 2016/679 is a regulation in EU law on data protection and privacy for all the individuals within the European Union and the European Economic Area. It also addresses the export of personal data outside the EU and EEA areas. It was implemented on 25th May, 2018, and replaced the Data Protection Directive. For now, protecting internal data while still sharing product and consumer information with partners across distributed supply chains is a challenge that comes up with the GDPR regulation.

Here Is A List Of Similar Reports By The Business Research Company:

Cloud Services Market By Segments (Infrastructure As A Services (IaaS), Platform As A Services (PaaS), Software As A Service (SaaS), Business Process As A Services (BPaas)), By Country And By Trends – Global Forecast To 2022  – https://www.thebusinessresearchcompany.com/report/cloud-services-market

Software Products Global Market Report 2019 – https://www.thebusinessresearchcompany.com/report/software-products-global-market-report .

The World’s Most Comprehensive Database

The Business Research Company’s Global Market Model analyzes all the above data and more. It is the world’s most comprehensive database of integrated market information. This market intelligence platform covers various macroeconomic indicators and metrics across 56 geographies and 24 industries.

Interested to know more about The Business Research Company?

The Business Research Company has published over 300 industry reports, covering over 2400 market segments and 56 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact Information:

The Business Research Company
Nitin
Email: [email protected]
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Follow us on LinkedIn: https://in.linkedin.com/company/the-business-research-company
Follow us on Twitter: https://twitter.com/tbrc_Info
Blog: https://www.thebusinessresearchcompany.com/blogs.aspx
Press Release: https://www.thebusinessresearchcompany.com/press-release.aspx

SOURCE The Business Research Company

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