Inventory Management Software Market Projection Growth Analysis By Oracle, Zoho, Microsoft, Fishbowl, TradeGecko, Ordoro, Brightperal, Stitch Labs, Acctivate, Wasp Barcode Technologies

MarketStudyReport.com offers 2018 report on global Inventory Management Software market that evaluates industry growth trends through historical data and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2018-2024.

Inventory Management Software Market is projected to surpass USD 3 billion by 2024. Inventory management, a component of supply-chain management refers to the management of inventory and stock to ensure the smooth flow of goods from manufacturers to warehouses and ultimately to the point of sale.

As managing huge inventory is a complex process, organizations use the inventory management software, which enables them to keep track of a large volume of goods as they move through their supply chain. Every organization must maintain an optimum inventory to ensure that it has enough stock to meet the changing customer demands. To effectively organize and maintain the appropriate levels of stock, organizations use inventory management systems, which further help them in reducing the total cost of the inventory and maximizing their ability to provide customers with products at a right time. Other benefits associated with the deployment of these systems are reduced inventory holding costs, increased productivity, efficiency, and avoidance of stock-outs & excess stock.

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Another important factor accelerating the market growth is the inventory shrinkage that can be attributed to shoplifting, customer theft, and vendor fraud, leading to a revenue leakage. For instance, in Asia Pacific, it is estimated that the countries including India, China, and South Korea faced the highest shrinkage value in 2018 amounting to around USD 0.52 billion, USD 13.52 billion, and USD 1.56 billion, respectively.

The barcode technology is widely used for increasing the accuracy and efficiency of inventory management systems. Barcode scanners enable organizations to easily process large item sets with the ability to pull the data directly from the cash registers and POS systems. Using such systems reduces the man-hours spent on the inventory counting and increases the organization?s overall productivity. However, with the use of advanced technologies, such Radio Frequency Identification (RFID), monitoring the movement of inventory in real-time has become more efficient. The growing adoption of the RFID technology in inventory management practices is expected to further facilitate the inventory management software market growth.

North America is projected to hold a significant share of over 42% in the inventory management software market by 2024 due to the increasing number of retailers and manufacturing companies, which are using the omni-channel platforms to increase their productivity and efficiency. For instance, in July 2017, indiCo and RSMA, providers of retail planning and forecasting solutions entered into a strategic partnership to make advanced inventory tools for small and independent campus stores.

These tools improve merchandise inventory decisions and the financial performance of campus stores, including monthly sales forecasts, open-to-buy budgets, and retail metrics by merchandise category. Another factor accelerating the growth of the North America inventory management software market is the penetration of cloud-based inventory management solutions that offer cost-benefits for the maintenance of large-scale inventory as compared to the traditional systems. The region has also witnessed huge investments, driven by the trends such as growth in the e-commerce platforms and the modernization of supply chains. For instance, in July 2018, the Canada Pension Plan Investment Board (CPPIB), Alberta Investment Management Corporation (AIMCo), and WPT Industrial Real Estate Investment Trust (REIT) announced to invest up to USD 1 billion of equity in the U.S. logistics market. The joint venture will help to aggregate the portfolio of industrial assets by making value-added acquisitions and funding developments.

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The factors fueling the growth of the inventory management software market include the increased adoption of the software in retail, logistics, and transportation. The growth of the e-commerce sector has led to the expansion of warehouse and inventory operations, which have increased the demand for scalable and robust cloud-based inventory management solutions. The presence of well-established distribution channels and the highly competitive retail landscape is expected to generate the need for efficient inventory management systems, which will help the organizations to know which stock is on hand and enable effective demand and supply forecasts.

Complete report for 2018-2024 on Inventory Management Software market is now available at https://www.marketstudyreport.com/reports/inventory-management-software-market

Related Report:

United States Inventory Management Software Market 2018 by Manufacturers, States, Type and Application, Forecast to 2023

United States Inventory Management Software Market research report is added by Market Study report by covering all major market aspects. The report also touches the key scenarios like top players, competition, types, applications, regions, recent developments and future market predictions.

https://www.marketstudyreport.com/reports/united-states-inventory-management-software-market-2018-by-manufacturers-states-type-and-application-forecast-to-2023/?utm_source=RR&utm_medium=DC

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