Supply chain management (SCM) is a system of activities, people, information, and resources involved in moving a product or service from supplier to customer. SCM is the coordination and management of all these elements in an effort to streamline the process and increase efficiency.
The goal of SCM is to create value for the customer by providing the right product, at the right time, and at the right price. In order to do this, SCM must manage the flow of information, goods, and money across the entire supply chain. This includes everything from raw materials to finished products, and all the steps in between.
SCM must take into account the needs of all the different stakeholders in the supply chain, including suppliers, manufacturers, distributors, and customers. Each of these groups has their own unique requirements that must be met in order for the supply chain to run smoothly.
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Key Trends
There are a few key trends in Supply Chain Management technology. One is the move towards more real-time data. This means that companies are collecting data more frequently and using it to make decisions more quickly. This can be enabled by technologies like the Internet of Things and big data analytics.
Another trend is the use of more predictive analytics. This means using data to try to forecast what will happen in the future and make decisions accordingly. This can help companies avoid disruptions and plan for demand.
Finally, there is a trend towards more collaborative and transparent supply chains. This means that companies are sharing more information with each other and working together more closely to improve efficiency and optimize the supply chain. This can be enabled by technologies like blockchain.
Key Drivers
There are a few key drivers of the supply chain management (SCM) market. Firstly, the increasing globalization of businesses has led to the need for more efficient SCM solutions that can help manage a complex supply chain network spanning multiple geographies. Secondly, the ever-changing nature of customer demand means that businesses need to be able to respond quickly and effectively to changes in order patterns. This has led to the need for SCM solutions that are flexible and can be easily configured to meet changing business requirements. Finally, the growth of the e-commerce sector has placed additional pressure on businesses to ensure that their supply chains are able to meet the challenges of handling large volumes of orders and managing stock levels effectively.
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Key Players
The supply chain management (SCM) market report includes players such as IBM Corporation, Oracle Corporation, SAP SE, Manhattan Associates, Descartes Systems Group Inc., Kinaxis, E2open, LLC, Basware Corporation, WiseTech Global, and Infor, among others
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