The supply chain management market is predicted to grow at a CAGR of 11.8% over the forecast period, according to FMI’s analysis.
The market for supply chain management is witnessing an upward market direction as the adoption of this software is surging among multiple firms and organizations. This could be ascribed to the growing cognizance pertaining to efficiency-promoting attributes of SCM software while sourcing raw materials, assembling, and manufacturing goods or products. Supply chain management solutions also assist with financial information, tracking inventory and warehouse, product delivery, managing order entry, etc. All these benefits of using SCM solutions are projected to push the market forward in the forthcoming years.
Further on, the SCM solution allows strategic management of work with the firm’s distribution network, thus promoting market growth. Supply chain management is witnessing increased adoption among SMEs and startups. The system offers the benefits of an IT department via a cloud management system sans any employment of additional staff at additional costs. This allows in-house employees to concentrate on daily business operations. The flexibility of cloud-based SCM storage provides scalability, which is significant for SMEs.
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In today's global economy, businesses are constantly seeking ways to optimize their operations and gain a competitive edge. One crucial aspect of this endeavor is efficient supply chain management (SCM). The SCM market has witnessed significant growth and evolution, driven by advancements in technology, changing consumer behaviors, and increasing complexities in global trade. In this blog, we delve into the intricacies of the SCM market, exploring its key trends, challenges, and opportunities.
News Featuring Market Developments by Companies Providing Supply Chain Management Solutions:
In February 2022, Oracle launched Supplier Rebate Management, which is a new solution under the category of Oracle Fusion Cloud Channel Revenue Management.
In February 2022, Oracle revealed that Bharti Airtel opted for Oracle Fusion Cloud SCM and Oracle Fusion Cloud ERP to simplify and digitize its planning, finance, and supply chain processes.
