DUBLIN--(BUSINESS WIRE)--The "Supply Chain Management (SCM) Software Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.
The global SCM software market was valued at about $7.3 billion in 2018 and is expected to grow to $10.57 billion at a CAGR of 9.7% through 2022.
The SCM Software market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. The North American market is the largest market for SCM Software and is expected to continue to be the largest market during the forecast period.
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 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.
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 replaces 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.
Major players in the market are SAP, Oracle, JDA Software Group, Inc., Infor Global Solutions and, Manhattan Associates.
Other Companies Mentioned
- JDA Software Group Inc
- Infor Global Solutions
- Manhattan Associates
- GT Nexus
- Descartes Systems Group
- IBM Corporation
- Kinaxis Inc
- High Jump
- Epicor Software Corporation
- Kewill Systems
- BluJay Solutions
- Verizon Connect
- SPS Commerce Inc
- Dassault Systemes
- WiseTech Global
- Plex Manufacturing Cloud
- QAD Inc
- Vanguard Software
For more information about this report visit https://www.researchandmarkets.com/r/4jsy4b