Today's economy heavily relies on the global supply chain market, which enables organizations to effectively manage the flow of ready-made goods, services, and information from vendors or manufacturers to final consumers. Supply chain management is very crucial today amid substantial progress in technology, globalization, and the restless nature of current markets.
As per several publications, analysis indicates that the global supply chain market was about 28.9 billion U.S. dollars as of 2023, and it is anticipated that it will rise to 75 billion dollars until 2030, which means a 14.2 percent growth rate per year. The utilization of cloud-based SCM solutions and automation and AI technologies has increased significantly in the last few years, which has resulted in the growth of the market as well.
Today's economy heavily relies on the global supply chain market, which enables organizations to effectively manage the flow of ready-made goods, services, and information from vendors or manufacturers to final consumers. Supply chain management is very crucial today amid substantial progress in technology, globalization, and the restless nature of current markets.
As per several publications, analysis indicates that the global supply chain market was about 28.9 billion U.S. dollars as of 2023, and it is anticipated that it will rise to 75 billion dollars until 2030, which means a 14.2 percent growth rate per year. The utilization of cloud-based SCM solutions and automation and AI technologies has increased significantly in the last few years, which has resulted in the growth of the market as well.
Supply chain is the identification and implementation of plans and process workflows properly coordinated in a supply chain system that will create additional net value. It is the building of competitive infrastructure and management of global logistics. In addition to overseeing production, it also includes the planning of raw material procurement, distribution management, and return management.
1. Continuous Flow Supply Chain: Suitable for products that have a demographic profile that is quite constant.
2. Fast Chain Supply Chain: This is best suited for products that move quickly and have a high seasonality.
3. Efficient Supply Chain: This supply chain works on minimizing costs and ensures operations are effective.
4. Agile Supply Chain: Satisfies the markets that face frequent changes in their demands.
5. Custom Configured Supply Chain: This is a hyper-sophisticated supply chain system aimed at bespoke commoditization.
6. Flexible Supply Chain: Objectives and resources can change in relation to needs and constraints.
Technological Advancement: SCM is being enhanced with cloud-based solutions, utilizing the IoT and big data.
Drones and Self-Driving Cars and Trucks: the more widespread use in warehousing and last-mile delivery.
Robust Supply Networks: Risk assessment within companies, in particular, after the pandemic.
3D Manufacturing in the Production Process: Decreases the time required to produce and relies on external suppliers.
Closed Loop Supply Chains: Waste handling and conserving natural resources are primary considerations.
Artificial Intelligence and Machine Learning Inclusion: Creating predictive models to optimize the management of inventories as well as the prediction of consumer demand.
Sustainability Drive: Practices related to the green supply chain are becoming more and more popular.
Blockchain Technology Introduction: This facilitates the overall process of the logistic supply chain.
Rise of Online Retailing: Ensures distribution through multichannel fulfillment and solutions for the last mile delivery.
Reshoring/nearshoring: Production shifted closer to the consumption market so as to manage disturbances.
Component-wise: Application, Tools, Platform
Deployment-based: Hosted, on-premise, Software as a Service (SaaS) model
Verticals: Industry-wise, the sectors include retailing, healthcare, automotive, manufacturing, and logistics.
c-wise: North America, EU, APAC, LATAM, and AMEA
SAP SE: ERP giant, leader of the development of logistical products.
Oracle Corporation: Dominant player in SCM applications in the cloud.
IBM Corporation: Leader in providing AI-based solutions in the supply chain domain.
Amazon (AWS): Provider of an effective logistics system.
Microsoft (Azure): Offers solutions necessary for digital transformation in the supply chain.
DHL Supply Chain: Service provider offering global logistics & supply chain solutions.
FedEx Corporation: Owns a sophisticated transportation and logistics enterprise.
Maersk: A worldwide integrated transport fencing and supply chain firm.