DUBLIN, May 19, 2022--(BUSINESS WIRE)--The "SCM Software Global Market Report 2022, By Product, Industry Vertical, User Type" report has been added to ResearchAndMarkets.com's offering.
The global scm software market is expected to grow from $25.80 billion in 2021 to $30.79 billion in 2022 at a compound annual growth rate (CAGR) of 19.3%. The market is expected to reach $59.93 billion in 2026 at a CAGR of 18.1%.
The supply chain management (SCM) software market consists of sales of supply chain management software. The SCM software manages the flow of products and information across the supply chain, thereby strengthening the supply chain operations in an organization. Softwares 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 provides consumption analysis.
The main product types of supply chain management (SCM) software are transportation management system, warehouse management system, supply chain planning, procurement software, manufacturing execution system. A transportation management system (TMS) is a logistics platform that uses technology to assist businesses in planning, executing, and optimizing the physical movement of goods, both incoming and outgoing, as well as ensuring compliance and proper documentation.
The software is used by small and medium sized enterprises (SMEs), large enterprises of consumer goods, healthcare and pharmaceuticals, manufacturing, food and beverages, transportation and logistics and others industry verticals.
SCM software's 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.
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.
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 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.
Major players in the supply chain management (SCM) software market are
JDA Software Group Inc.
Infor Global Solutions
Descartes Systems Group
Epicor Software Corporation
SPS Commerce Inc.
Plex Manufacturing Cloud
Key Topics Covered:
1. Executive Summary
2. Supply Chain Management (SCM) Software Market Characteristics
3. Supply Chain Management (SCM) Software Market Trends And Strategies
4. Impact Of COVID-19 On Supply Chain Management (SCM) Software
5. Supply Chain Management (SCM) Software Market Size And Growth
5.1. Global Supply Chain Management (SCM) Software Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Supply Chain Management (SCM) Software Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Supply Chain Management (SCM) Software Market Segmentation
6.1. Global Supply Chain Management (SCM) Software Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Transportation Management System
Warehouse Management System
Supply Chain Planning
Manufacturing Execution System
6.2. Global Supply Chain Management (SCM) Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Healthcare & Pharmaceuticals
Food & Beverages
Transportation & Logistics
6.3. Global Supply Chain Management (SCM) Software Market, Segmentation By User Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Small & Medium Sized Enterprises (SMEs)
7. Supply Chain Management (SCM) Software Market Regional And Country Analysis
7.1. Global Supply Chain Management (SCM) Software Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Supply Chain Management (SCM) Software Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/youi3x
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