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In Mobile Wallet Market Asia-Pacific Was The Largest Region Globally

Summary

As per the research, the global cloud SCM market is likely to grow from $3,260 million in 2016 to $11,047.2 million by 2023.

 As the modern supply chain management (SCM) is becoming strategic, adaptive and demand driven, software vendors are developing systems to support the new SCM paradigm. The new supply chain systems will go beyond operating efficiencies to a totally integrated system that improves management, planning and execution at all levels, providing the business organizations key competitive advantages. Insufficient data, lack of standardized processes and inadequate technologies oppose effective risk management

The supply chain software vendors are enhancing management features to understand risks, the impact of risks and how to mitigate those risks. Cloud SCM helps business enterprises to perform high impact risk management planning with the use of software simulation models. Moreover, the supply chain sub-systems will provide real-time updates on events and facilitate the deployment of contingency plans, to manage common low impact events. For instance, if an overseas container is lost during shipping, the transportation system would get prior notification and the demand management team can recalculate the sales forecast, re-prioritize fulfilment and deploy demand shifting strategies. 

Access Report Description: Cloud Supply Chain Management (NYSE:SCM) Market Size, Forecast to 2023

Small & medium enterprises and large enterprises are increasingly turning to cloud SCM offerings because of their close affinity with SaaS and the anticipated greater ease of use, lower costs and faster time-to-integrate compared to traditional supply chain management concept. Cloud SCM helps companies to improve their service levels by collaborating the supply chain partners (retailers, suppliers and distributors) that play a major role in demand forecasting. The cloud based platforms get data from the internet and perform basic operations like analytics and more accurate demand forecast for all supply chain partners. The adoption of inventory management is usually enhanced by many business organizations, since it enables them to use bar coding technologies and wireless services. RFID system integrates with the cloud based centralized data management system to deliver global identification and tracking of any items or goods across the global supply chain management lifecycle. the global cloud SCM market is projected to reach $11,047.2 million by 2023

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 Geographically, North America has been the largest contributor to the global cloud SCM market. According to the research, the business organizations in North America are increasingly using cloud computing for effectively managing their supply chain process. They are using cloud services and SaaS integration with the same rigor and discipline adopted to support data management technology and platform management technology in supply chain information collaboration. The companies in North America are adopting cloud SCM, for its flexible nature and ability to increase or decrease computing power as required by its users. As the supply chain process is highly distributed in nature, the companies notice high scalability issue in their supply chain management system. To overcome this issue, the business enterprises in North America are scaling up IT services of their supply chain at a big level to gain higher productivity.

 The research uncovers that the global cloud SCM market had a consolidated structure in 2015, where the top three competitors accounted for the major share of the market. Some of the key players in the global market include SAP SE, Infor, Inc., Oracle Corporation, The Descartes Systems Group Inc., JDA Software Group, Inc., Manhattan Associates, Inc., Logility, Inc., Kinaxis, Inc., Highjump Inc., Kewill, Inc., Tecsys, Inc. and Cloudlogix, Inc.