Global Supply Chain Analytics Market 2017-2021
About Supply Chain Analytics
The application of analytics in the supply chain can be applied to many industries, such as retail, consumer goods, and manufacturing to accurately anticipate demand and to predict and monitor supply and replenishment policies and plan the inventory flow of goods and services. The supply chain is a significant component of any company. Hence, to reduce the cost fluctuation and optimize the sourcing and logistics activities, companies are investing in supply chain analytics.Technavio’s analysts forecast the global supply chain analytics market to grow at a CAGR of 13.68% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global supply chain analytics market for 2017-2021. To calculate the market size, the report considers revenues from sales of supply chain analytics solutio.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Supply Chain Analytics Market 2017-2021
Technavio recognizes the following companies as the key players in the global supply chain analytics market: IBM, Oracle, and SAP.
Other Prominent Vendors in the market are: Aptean, Bristlecone, Bilytica (Business Intelligence & Analytics), Birst, BOARD International, Chainalytics, CONCENTRA, Coupa Software, FineLine Technologies, RELEX Solutions, Kinaxis, Latentview, LLamasoft, Logility, and Silvon Software.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emergence of procurement analytics. Analytics is one of the emerging trends in the peer-to-peer (P2P) outsourcing market. Analytical solutions use statistical modeling tools and a methodology for an in-depth analysis of the procurement supply chain process. Advanced analytical tools, such as predictive analytics, provide insights connected to the procurement process by clustering numerous factors expected in the supply chain management systems.”
According to the report, one driver in the market is increased needs to improve business processes. Business processes are tasks that produce a specific product for a particular set of customers. The outcome of a well-designed business process is an improvement in effectiveness and efficiency. SCM software helps improve efficiency by generating more output using a small amount of input. It helps improve effectiveness by creating products that are in demand. Business processes play a key role in strengthening the position of a company in the market. They help align business strategies with operations, which helps organizations gain control of the market.
Further, the report states that one challenge in the market is increased complexity of the supply chain network. As mentioned above, supply chains have become complex over the last few years as many suppliers expanded their business to various industries across the world. Due to this, the global supply chain analytics market is very competitive. Furthermore, supply chain management consists of handling the inventory transactions and feeding data in the analytics solutions. Both these processes need to correlate to ensure that all transactions are done and verified both in the system data as well as on the shop floor.
IBM, Oracle, SAP, Aptean, Bristlecone, Bilytica (Business Intelligence & Analytics), Birst, BOARD International, Chainalytics, CONCENTRA, Coupa Software, FineLine Technologies, RELEX Solutions, Kinaxis, Latentview, LLamasoft, Logility, and Silvon Software.
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