Supply
chain analytics (SCA) is the method to facilitate the
execution of services and products from supplier to customer.
Components of supply chain systems incorporate people, information,
organizations, resources and activities to transform raw materials
into optimized finished goods. The supply chain conventionally
follows the hierarchy that is manufactures, suppliers, retailers,
wholesalers and customers. Comprehensive SCA has become a necessity
for every organization in order to have visibility and be able to
efficiently penetrate into the market. SCA have become an important
part of every organization whether big or small to manage processes
related to product re-engineering, development of new products,
re-sourcing and low cost country sourcing (LCCS). SCA provide
organizations with insights as to how distinct functional areas are
contributing in achieving corporate goals. Key benefits of SCA
include release of cash by reducing inventory, enhance forecast
accuracy, optimize service levels, support network reconfiguration,
minimize material wastage all this to speed up time-to-market for
services and products. SCA offerings are spread across industries
like electronics and high tech, defense, automotive, manufacturing,
aerospace, life sciences, healthcare, consumer packaged goods (CPG)
and retail among others.
Huge amount of data
is being generated and processed each day. Expertise of SCA is
required to handle such large amounts of data and convert it into a
valuable asset. Thus, increasing business data and need of effective
database management tools across varied industrial verticals
worldwide have fueled the growth of SCA market. Additionally,
awareness of SCA benefits wherein forecasting accuracy being the
major one have intensified the growth of SCA market.
SCA market can be
segmented based on solution it provides, service type, deployment
type and geography. Depending on the solutions the market is
classified into procurement and planning of supply chain,
manufacturing analytics, logistics and transportation analytics,
reporting and visualization tools, and operating and sales planning.
Based on services it offers it can be segmented into maintenance,
support and professional services. In terms of deployment, SCA market
cab be bifurcated into on-premises and hosted (cloud based). Regions
like Asia Pacific and Middle East are predicted to experience
strongest growth within the SCA market pertaining to the emerging
manufacturing and other industries in these regions.
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Factors such as lack
of data visibility in real-time in the international business, no
particular way to streamline processes within planning and execution,
no flexibility within the network and imbalance in product line are
all hampering the growth of supply chain analytics market. However,
companies are coming up with innovative services, solutions and cloud
based applications to bring the necessary flow required in the supply
chain processes. One of the market players Sage Clarity launched a
host of applications to cater to real-time management of inventory in
progression with its success of supply chain solutions in the food
and beverages industry. The new applications enables the employees to
gain meaningful insights not just in regards to inventory but also
cost management, customer deliveries, profitability and other aspects
involved in supply chain management.
Some of the Key
Players of supply chain analytics market include Birst, Inc.,
Genpact Ltd., Capgemini S.A., IBM Corporation, Microstrategy, Kinaxis
Inc., SAP SE, Oracle Corporation, Sage Clarity LLC and SAS
Institute, Inc. among others.
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