The global SaaS-based SCM market to grow at a CAGR of 20.52% during the period 2018-2022.
Global SaaS-based SCM Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report also includes a discussion of the key vendors operating in this market. Software-as-a-service (SaaS)-based supply chain management (SCM) is a software application and tool installed on-premise and in the cloud. It facilitates the completion of activities of the entire supply chain by providing accurate information and an end-to-end view of each element across the supply chain process.
One trend in the market is adoption of SCVEM. Supply chain visibility and event management (SCVEM) is a software that improves logistics and SCM performance. The adoption of this software will encourage companies to shift their operating supply chain bases to the cloud, thereby driving the global SaaS-based SCM market.
According to the report, one driver in the market is SaaS-based SCM increases traceability and visibility across supply chain. SCM helps in maintaining inventory levels and meeting consumer demands. Supply chain mangers are responsible for increasing productivity, eliminating rework, standardizing processes, and maintaining inventory levels.
Further, the report states that one challenge in the market is complexity of supply chain network. Industries interact with various suppliers and customers across the world, exchanging information and facilitating the flow of material to maintain a balance between supply and demand variables.
Adoption of SCVEM
Increased implementation of TMS software
Integration of semantic analytics software with SCM software