The global Cloud Supply Chain Management market is expected to reach USD 16.02 Billion by 2028, according to a new report by Reports and Data. Demand management solutions are required to get the visibility required for the growth of the business by keeping the customers and stakeholders connected to empower the decision makers make real-time decisions by analyzing real-time demand information. The increase in the need for demand management solutions by business to improve profitability with enhanced capability of prompt demand identification is estimated to stimulate the market growth.
The business continuity which involves ensuring smooth continuation of the after the occurrence of a disaster, is of utmost importance among enterprise. The switching of supply chains to clouds can provide help against unwanted disaster. The “2020 Internet Security Threat Report” Symantec Corporation highlights a 200% rise in supply chain-based cyber-attacks, mainly in ransom ware attacks. The present day extensive supply chains are a tempting target for cyber offenders as they offer a range of potential access points that each represent a horde of potential attack routes. This may lead to grave concerns when problem takes place – especially for enterprises using a diversified legacy IT protocols.
The concern pertaining to segregation of data in cloud-based supply chain management solutions may play a crucial role in hindering the market growth.
The market in Asia Pacific is projected to grow at a CAGR of 11.3% in the forecast period. This may be attributed to a surge in industrialization in this region as well as a demand by the enterprises to better manage their supply chain systems to increase their efficacy and improve the profitability. Cloud computing platforms are empowering small and medium-sized suppliers, distributors, manufacturers, etc. in this region to swiftly and easefully switch to supply chain management solutions offered by cloud-based infrastructure. Cloud supply chain management solutions will continue to gain popularity as enterprises seek for more visibility and efficiency.
Request your copy of the Cloud Supply Chain Management Analytics intelligence report, published by Reports and Data, to get more details regarding portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
Further key findings from the report suggest
- The transportation management solution is projected to contribute to the largest market share registering a CAGR of 11.1% during the forecast period. This can be attributed to the offering provided by transport management solution such as transport course planning & optimization, payload optimization, delivery, billing & payment, order visibility, and freight administration. The solution facilitates two-way communication between an order management system and warehouse and manages key operational tasks.
- Managed services are estimated to grow at the highest CAGR of 11.3% during the forecast period. A managed service provides assistance in handling the daily operations businesses that have been outsourced to a third party to manage those operations such as the billing process of goods and services, and thereby freeing up the human resource of the enterprise to focus on managing core business competencies.
- Large enterprise are supposed to hold the largest the largest market share with a growth rate of CAGR 11.2% during the forecast period. Owing to the existence of complex supply chain in large enterprise, cloud supply chain management will help these enterprises in better managing their supply chain and increase their proficiency and profitability.
- North America market is projected to grow at a CAGR of 11.1% in the coming years. This is chiefly due to the presence of numerous large MNCs in this region especially in countries like US and Canada as well as the rapid adoption latest technological advancement in this region.
- Pfizer Inc. a leading Us pharmaceutical company after over 25 acquisitions in the last two decades, the company decided to restructure its complex supply chain to provide superior agility and responsiveness to unwanted occurrence of disaster by opting to cloud supply chain management solutions.
- Key participants include Oracle, SAP SE, Descartes Systems Group Inc., Manhatten Associates Inc., JDA Software Group Inc., Kewill Inc., Tecsys Inc., Logility Inc., Cloud Logix Inc. and Kinaxis Inc.
- Oracle, a major company in the market, provides Demand Management solutions to help businesses in maximizing profitability with greater capabilities to recognize demand at a fast pace. Automated forecasting makes sure that the strategies are built on the most accurate forecasts—without the need for employing additional statistical expertise.
