Westford, U.S., April 26, 2022 (GLOBE NEWSWIRE) — The COVID-19 pandemic has had a long-lasting impact on markets around the world, compelling business leaders to take action and continue their operations. The pandemic has highlighted the importance of supply chain solutions for long-term economic viability. In these uncertain times, supply chain analytics has allowed organizations to identify processes needing immediate attention or products/items that may be running out soon, allowing them to better manage the gap. between supply and demand.
Additionally, SCA vendors in the market are actively working and offering solutions to mitigate the negative effects of the pandemic on global supply chains. For example, in June 2021, Infosys Limited developed a personalized medicine solution for the pharmaceutical industry. The solution combines SAP C/4HANA Suite, SAP S/4HANA, SCI Platform and SAP Analytics Cloud solutions to help pharmaceutical companies meet regulatory and business requirements while delivering personalized patient experiences. Additionally, SAP SE announced additional offerings and access to enterprise technologies in April 2021 to help businesses cope with and navigate the COVID-19 pandemic. Free offerings include Qualtrics Supply Continuity Pulse and Planning as a Service with the SAP Integrated Business Planning for Supply Chain solution. SCA provides organizations with a broader view of supply chain activities, allowing them to more effectively manage any issues that may impact the profitability or sustainability of the business.
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Mobile solutions help businesses track inefficient supplier networks, rising warehousing costs, and incorrect forecasts, among others. Analytics solutions are also important in the analysis of business operations, which can help improve inventory management and, therefore, help reduce associated cost components that can hinder business growth. A recent increase in the adoption of mobile solutions is expected to open new opportunities for industry growth.
Read the Market Research Report, “The Global Supply Chain Analytics Market is segmented by Software (Supplier Performance Analysis, Demand Analysis and Forecasting, and Inventory Analysis), by Services (Professional , Support & Maintenance), By Deployment Model (Cloud, On-Premise) & By Region – Forecast & Analysis 2021-2027” by SkyQuest
Increasing data rates, combined with the continued need for a unified solution to reduce costs, are expected to drive demand for advanced analytics solutions across industry verticals. Big data has become an essential element in the development of business development strategies. Also, one of the major concerns of businesses is cost reduction and resource saving, which can be achieved through proper supply chain optimization. As a result, the use of data enhances the analytical power of these analytics solutions and provides businesses with valuable insights into the root causes of lost productivity and speed. This information also provides better visibility into supply chain performance, allowing companies to control the flow of their resources and target their improvement initiatives. Cost containment, transportation network design, route optimization, inventory optimization, risk management, customer collaboration and global integration are all benefits of chain analysis supplies for businesses. Furthermore, the widespread use of IoT devices in industries such as automotive, healthcare, and manufacturing has resulted in the generation of massive amounts of data, which has led to an increase in the adoption of these solutions in chains. supply.
North America ruled the world supply chain analytics market in 2021, representing more than 38% of total revenue. Due to the complexity of business processes, North American industrial organizations are placing greater emphasis on the visual display of operational data. This allows companies to quickly assess the current health based on their supply chain data, enabling better strategic decision making. The European regional market is expected to grow at a promising rate over the forecast period. The European Commission’s Single Market Strategy allows goods, services, people and capital to move freely throughout the EU. It expands the geographic market for European companies and broadens the acceptance and deployment of SCA solutions.
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SAP SE, Oracle Corporation, Accenture PLC and Aera Technology are the leading vendors offering unified software solutions to meet the different needs of a supply chain. The trend of optimizing the delivery mechanism from the point of production to the point of consumption has prompted companies to implement unified advanced analytics software. The advancement of supply chain solutions through the use of big data and predictive analytics, along with the use of interactive software solutions and functional dashboards, is encouraging market players to create advanced solutions supply chain analysis.
The report published by SkyQuest Technology Consulting provides in-depth qualitative information, historical data and verifiable projections on the size of the market. The projections presented in the report have been derived using proven research methodologies and assumptions.
SkyQuest has segmented the global supply chain analytics market on the basis of software components, services, deployment mode and region:
- Supply Chain Analytics Software Outlook (Revenue, USD Million, 2021 – 2027)
- Demand analysis and forecasting
- Vendor performance analysis
- Analysis of expenses and purchases
- Stock analysis
- Transport and logistics analysis
- Supply Chain Analytics Services Outlook (Revenue, USD Million, 2021 – 2027)
- Support & Maintenance
- Supply Chain Analytics Deployment Mode Outlook (Revenue, USD Million, 2021 – 2027)
- Supply Chain Analytics Regional Outlook (Revenue, USD Million, 2021 – 2027)
- North America
- The rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Central and South America
- Middle East and Africa
- GCC countries
- South Africa
- Rest of MEA
List of Key Supply Chain Analytics Market Players
- SAP (Germany)
- Oracle (US)
- IBM (US)
- SAS Institute (USA)
- Software AG (Germany)
- MicroStrategy (US)
- Table (United States)
- Qlik (USA)
- TIBCO (USA)
- Cloudera (USA)
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