Smart and Mobile Supply Chain Solutions Market - To Exhibit 29.1% CAGR as Rising Complexity of Supply Chains Drives Demand

Supply chain management is defined as the management of flow of goods within the supply chain. It majorly includes the storage and movement of raw materials, inventory management, and management of finished goods from point of production to consumption point. Interlinked and interconnected channels, networks, and node business are involved in the management of products and services which are required by the end customers in the supply chains.

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However, smart supply chain software and services majorly deal with the information generated within the supply chain. Smart supply chain management solutions help in collecting and managing the collected information. The product manufacturers and retailers use this information in demand forecasting, studying consumer behavior, and changing preferences of consumers.

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These solutions help companies or businesses to effectively deal with the risk associated with supply chains. These risks include the level of inventory, asset tracking, supply of goods against demand forecast, and services. These solutions help organizations achieve their business objectives by providing effective and efficient supply chain services.

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On the basis of component type, software and services are the two major types of smart and mobile supply chain solutions. Software component include software such as connected transportation management systems (TMS), connected warehouse management systems (WMS), connected sourcing and procurement, connected supply chain planning (SCP), connected manufacturing execution systems (MES), and connected analytics.

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