The report forecasts the global inventory management software market in retail sector to grow at a CAGR of 8.31% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend helping boost market growth is the increasing adoption of RFID technology. The rise in e-commerce and m-commerce has led to the adoption of omni-channel distribution systems, which require sophisticated inventory management systems to monitor operations. M-commerce and e-commerce companies compete on the basis of price, quality, and delivery time. RFID systems use an electronic data interchange to provide real-time information about the status of ordered goods to customers and retailers. They help minimize the cost of operations by reducing the delivery time and defects per million opportunities, such as delivering the wrong item, which triples the delivery time and can result in customer attrition. According to the report, a key growth driver is the existing supply chain inefficiencies and need for transparencies. Accurate demand planning by manufacturers and retailers is also another complex task because of inefficiencies such as incorrect data and delayed data flow through the supply chain. Manufacturers can obtain point-of-sale data from retailers, but without information about stock levels during inventory transportation, it is not possible to forecast the demand accurately.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?