Supply Chain Analytics Market : Speed up Time-to-Market for Services and Products

Supply chain analytics (SCA) is the method to facilitate the execution of services and products from supplier to customer. Components of supply chain systems incorporate people, information, organizations, resources and activities to transform raw materials into optimized finished goods. The supply chain conventionally follows the hierarchy that is manufactures, suppliers, retailers, wholesalers and customers. Comprehensive SCA has become a necessity for every organization in order to have visibility and be able to efficiently penetrate into the market. SCA have become an important part of every organization whether big or small to manage processes related to product re-engineering, development of new products, re-sourcing and low cost country sourcing (LCCS). SCA provide organizations with insights as to how distinct functional areas are contributing in achieving corporate goals. Key benefits of SCA include release of cash by reducing inventory, enhance forecast accuracy, optimize service levels, support network reconfiguration, minimize material wastage all this to speed up time-to-market for services and products. SCA offerings are spread across industries like electronics and high tech, defense, automotive, manufacturing, aerospace, life sciences, healthcare, consumer packaged goods (CPG) and retail among others.
Huge amount of data is being generated and processed each day. Expertise of SCA is required to handle such large amounts of data and convert it into a valuable asset. Thus, increasing business data and need of effective database management tools across varied industrial verticals worldwide have fueled the growth of SCA market. Additionally, awareness of SCA benefits wherein forecasting accuracy being the major one have intensified the growth of SCA market.

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SCA market can be segmented based on solution it provides, service type, deployment type and geography. Depending on the solutions the market is classified into procurement and planning of supply chain, manufacturing analytics, logistics and transportation analytics, reporting and visualization tools, and operating and sales planning. Based on services it offers it can be segmented into maintenance, support and professional services. In terms of deployment, SCA market cab be bifurcated into on-premises and hosted (cloud based). Regions like Asia Pacific and Middle East are predicted to experience strongest growth within the SCA market pertaining to the emerging manufacturing and other industries in these regions.

Factors such as lack of data visibility in real-time in the international business, no particular way to streamline processes within planning and execution, no flexibility within the network and imbalance in product line are all hampering the growth of supply chain analytics market. However, companies are coming up with innovative services, solutions and cloud based applications to bring the necessary flow required in the supply chain processes. One of the market players Sage Clarity launched a host of applications to cater to real-time management of inventory in progression with its success of supply chain solutions in the food and beverages industry. The new applications enables the employees to gain meaningful insights not just in regards to inventory but also cost management, customer deliveries, profitability and other aspects involved in supply chain management.

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