LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global distribution software market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Amrita Choudhury, a lead analyst from Technavio, specializing in research on enterprise application sector, says, “The global distribution software market will post a CAGR of 9.5% during the forecast period. One of the major reasons for this growth is the increasing need for management of inventory levels and the movement of goods in real time to minimize the lack of stock situations, increase product availability, and reduce inventory costs.”
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The top three emerging market trends driving the global distribution software market according to Technavio research analysts are:
- Introduction of distribution mobile apps
- Emergence of omnichannel retailing
- Supply chain inefficiencies and need for transparency
Introduction of distribution mobile apps
Transitioning of businesses to mobile technology will not only give enterprises more accurate information but save hundreds of hours. It eliminates redundant data entry on delivery receipts, physical inventory checks, and retail evaluations by switching to mobile apps. The increasing adoption of mobile devices for professional purposes is a major trend in the global distribution software market.
Enterprises are increasingly focusing on adopting the mobile distribution app to improve order management system. The mobile distribution app is gaining prominence among manufacturers, distributors, field sales people, independent sales representatives, and retail chains to provide their customers convenient product and service ordering and inventory management capabilities. The real-time access to sales information provides increased user efficiency and shorter sales cycles with an improved customer experience.
Emergence of omnichannel retailing
With improving network infrastructure and increasing penetration of the Internet, retailers have started increasing their reach and revolutionized the customer's shopping experience with the help of e-commerce and m-commerce. Inventory visibility is the key to the success of this type of retailing and is important for retailers. To make omnichannel retailing successful, retailers need real-time information about the products or goods being offered to the customer without any inconsistencies. Retailers also need accurate inventory tracking information to make better decisions and avoid out-of-stock situations by improving the distribution process. Omnichannel retailing also helps provide a perfect shopping experience to the customers.
“The distribution software helps retailers get accurate information about the movement of goods through the supply chain, thereby increasing inventory visibility from 40%-50% to above 90%. It helps in maintaining item-level data or records for better decision-making,” says Amrita.
Supply chain inefficiencies and need for transparency
In a retail landscape, products or goods move through many stages and get distributed at every stage. It is very difficult to monitor inventory distribution and acquire accurate details of distribution. With the trend of omnichannel retailing, inventory tracking has become more complex.
Accurate demand planning by manufacturers and retailers is also another complex task because of inefficiencies such as incorrect data and delayed data flow through the supply chain. Manufacturers can obtain POS data from retailers, but without information about stock levels during the inventory transportation, it is not possible to plan for demand accurately. The distribution software helps provide better visibility and provides end-users with the ability to turn raw data into meaningful information using the built-in reporting feature.
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