Supply chain management or SCM involves monitoring of materials, information as well as finances when products are moved from supplier to manufacturer and then passed from wholesaler to retailer finally reaching the consumers. The ultimate goal for an effective SCM system is managing and reducing inventory time assuming the products being available when needed. Different software solutions are used for maintaining the smooth flow of supply with cloud technology being a relatively newer concept to be used for effective supply chain management.Cloud based SCM allows tracking a specific product throughout its complete lifecycle. On an initial level, the cloud-based services will help in maintaining storage capacity over the internet along with using web-based environments that will be extremely crucial for application in tactical situations. The global market for cloud based supply chain management has been segmented on the basis of solution, service, end use industry and geography.
The solution areas based on which the global market has been segmented includes order management, inventory and warehouse management, procurement and sourcing, sales and operation planning and transportation management among others. On the basis of service the market has been segmented into training and consulting, support and maintenance and managed services. Healthcare, food & beverage, manufacturing among others form the different application areas based on which the global market has been segmented.
Global cloud supply chain management market on the basis of geography has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa.The cost effectiveness associated with the application of cloud supply chain management forms one of the major driver for this market. It is the proper management of goods along with providing a better range of customization through online markets that gives a cost advantage to the company from its competitors. Moreover, it is also the flexibility and integration of different designs providing enhanced IT based solutions that further helps in driving this market globally.
Along with this, it is the effective managing of data redundancy and scalability associated with data that further contributes to some important factors that is positively impacting the market boosting the overall growth. With all these drivers there are also a few restraints that poses challenges to the market growth such as security that limits the market growth. Security issues involve threats related to the data being hacked or the misinterpretation of data that forms a major concern for the company using these services.Another major restraint for using these systems would be the dependency on the central access for monitoring data along with the risks related to the entire system being down that also has negative impacts on the overall market. The proactive nature of this technology allowing faster delivery of product information will likely provide opportunities for this market in the coming years.
Geographically, North America formed a major region for this market followed by Europe where the cost effectiveness along with technological advancement in managing supply chains formed some major reasons for the growth of this market. Asia Pacific formed one of the fastest growing segment with China, India and Japan being some of the major countries contributing to the growth. The growing technological advancement in managing supply chain along with growth of online customization has been some important reasons for this growth in APAC region.
Some of the key players that are operating in the global cloud supply chain management market include Oracle Corporation (The U.S.), JDA Software (The U.S.), Manhattan Associates, Inc. (The U.S.), Kewill, Inc. (The U.S.), Kinaxis, Inc. (The U.S.), CloudLogix (The U.S.), TECSYS, Inc. (The U.S.), HighJump (The U.S.), Logility, Inc.( The U.S.), Infor, Inc. (The U.S.), SAP SE (Germany) and Descartes Systems Group, Inc. (The U.S.), among others.
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