Supply Chain Management Market - Economic Conditions, Acquisitions, Mergers, Developments and Forecast By 2027
Supply chain management (SCM) software facilitates the activities of the entire supply chain. The software is used in supply chain transactions and helps to manage supplier relationships and business processes. In addition, it provides accurate information and an end to end view of supply chain processes. It integrates the organization and supply chain together into a single system, and helps end users oversee areas such as warehousing, purchasing, marketing, sales, shipping, and others, which help enterprises to make efficient business decisions.
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The report provides the profiles of key players operating in the market such as SAP SE, Oracle Corporation, JDA Software Group, Inc., Infor, Manhattan Associates, Epicor Software Corporation, The Descartes Systems Group Inc., HighJump, Kinaxis Inc., and IBM Corporation.
The growth of the global supply chain management market is driven by development of industrial-grade digital technology, surge in need for improved supply chain visibility, and increase in inclination toward cloud-based supply chain management software. Moreover, surge in need of demand management solutions among enterprises and increase in adoption of SCM software in healthcare and pharmaceutical companies further boosts the growth of the market. However, high cost associated with the implementation and maintenance of SCM solution and increase in security & privacy concerns among enterprises are expected to impede the market growth. On the contrary, upsurge in demand for transportation management systems (TMS) software and integration of blockchain technology in SCM software are expected to present major opportunities for market expansion in the near future.
