Press release
Global Retail Sourcing and Procurement Market Size, Share, Development, Growth and Demand Forecast to 2022
To Browse Full Report Visit Here: www.psmarketresearch.com/market-analysis/retail-sourcing-and-procurement-market
Automation in procurement activities had witnessed growth during last couple of years owing to increasing adoption of mobile applications and cloud based applications, which are assisting procurement and sourcing processes. The technological up gradation in sourcing and procurement process for retail industry is leading to enhanced competition in retail industry due to low entry barrier for the small companies. To maintain market position with progressive technological advancement, retailers are observing opportunities in the retail sourcing and procurement market due to expected increase in demand for inventory management and store operations during the forecast period. Some of the major restraints such as high costs, complexities, ever-changing store networks, seasonality of transportation and services and unwillingness for the adoption of latest technology are hampering the growth of the global market.
Internet of things (IoT) is expected to allow the supply chain management and enterprise resource planning to work together by connecting processes, data, people, and things with sensors and devices. IoT in the transportation and the supply chain industries portrays a larger picture in the present scenario and IoT is expected to enable organizations to plan better, to work smarter and foster more intelligent decision-making processes.
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Geographically, North America is expected to be the largest market, followed by Europe during the forecast period. The market is also expected to emerge in the regions of Asia-Pacific, Latin America, and Middle East and Africa (MEA). However, it has been estimated that the growing emergence of Bring Your Own Device (BYOD) trend and developments in the field of cloud analytics, have led to the high adoption of sourcing and procurement solutions in the retail sector.
Some of the key players in the global retail sourcing and procurement markets are SAP SE, Oracle Corp., IBM Corp., Zycus Inc., PROACTIS Group, GT Nexus Inc., Epicor Software Corp., Tradogram Inc. and Vroozi Inc.
Global Retail Sourcing and Procurement Market Segmentation
By Solution
Strategic Sourcing
Supplier Management
Contract Management
Procure-to-Pay
Spend Analysis
By Service
Implementation
Training and Support
Consulting
By Deployment Type
Cloud
On-Premises
By User Type
Small and Medium Enterprise (SME)
Large Enterprise
By Region
North America
Europe
Asia-Pacific
Rest of the World
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