Supply Chain Analytics Market Benefits from Demand for Greater Transparency in Inventory Management

The report also looks into the current competitive structure prevailing in the market. Geographically, the global supply chain analytics market is analyzed across North America, Europe, Asia Pacific, and Rest of the World for the aforementioned forecast period.

In present business systems, huge amounts of data are generated and processed every day. This data needs to be scrutinized with the help of specialty tools so it can be utilized in business operations. Supply chain analytics (SCA) is proving to be a reliable tool for handling massive amounts of data and converting it into a valuable asset. Thus, the rising volume of business data that needs to be processed and managed effectively across a spectrum of industry verticals is fueling the growth of the SCA market. In addition, SCA offers benefits such as forecasting accuracy, which are vitally important for strategizing and business planning.

Moreover, in modern business practices, dependence on conventional supply chain execution processes is not viable due to reasons such as pricing pressures, global operating systems, and ever-increasing customer expectations. Other economic factors such as the rising fuel costs, global economic slump, depleting number of suppliers, and the intensifying competition from low-cost outsourcers are making conventional supply chains difficult to rely on. These challenges have prompted more enterprises to consider investing in supply chain analytics for enhanced operational transparency and efficiency.

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However, factors such as inaccessibility to real-time data in international business operations, difficulties in streamlining planning and execution of business processes, and inflexibility of operations within product lines and supply logistics are hindering the growth of the supply chain analytics market. Nevertheless, to address this, companies are instituting newer services, overhauling processes, and utilizing cloud-based solutions to bring the requisite changes in supply chain systems.

A case in point is, Sage Clarity, a top market player, who introduced a host of applications to facilitate real-time inventory management in F&B supply chains. Initiatives such as this will enable employees to receive valuable insights about cost management, profitability, customer deliveries, and other aspects of supply chain operations.

Top players in the supply chain analytics market are Birst Inc., Capgemini S.A., Microstrategy, SAP SE, Sage Clarity LLC, Genpact Ltd., IBM Corporation, Kinaxix Inc., Oracle Corporation, and SAS Institute Inc.

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This release was published on openPR.