Albany, NY -- (SBWire) -- 06/21/2018 --The enterprise adoption of big data analytics in supply chain management is a relatively recent development compared to other business areas, but is fast gaining traction in wide range of industries. The proliferation of unstructured datasets that may influence supply chain management has triggered the demand for Big Data technologies among businesses.
Allocating shelf space at retail stores is a case in point where there is pressing demand for making sense of unstructured data for manufactures. Organizations world over are inclined to achieve the top-line growth focus on reducing the materials waste and improving forecast accuracy through machine learning technologies.
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Smart stock management system for warehouses and distribution centers rely on supply chain analytics and automatically alert restocking requirements. Supported by machine learning technologies, supply chain analytics is opening up promising prospects in inventory management and transportation logistics in industries such as retail, healthcare, consumer packaged goods, electronics, automotive, aerospace, and defense.
Advancements in sensors used in monitoring devices are expected to boost the market in the years to come. Efforts to augment the potential of database management tools are expected to accentuate the growth of the market. The innovative use of Big Data in supply chain management has led to fresh insights and has unlocked exciting prospects in industrial sectors in various developing and developed economies.
The growing popularity of cloud-based solutions in supply chain analytics, notably among a growing number of small and medium scale enterprises, bodes well for the market. The staggering rise in manufacturing activities in a number of emerging economies, particularly in Asia Pacific, is expected to open abundant promising opportunities for market players.
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Global Supply Chain Analytics Market: Snapshot
Supply chain optimization is gaining importance among organizations striving to lift customer experience, attain a stable business growth, and decrease the operational costs. Such organizations are incessantly executing solutions related to supply chain analytics in order to attain top-line progress, enhance productivity, and consolidate their market presence. These solutions are known for minimizing waste of materials, supporting network reconfiguration, enhancing forecast accuracy, elevating the level of services, and reducing inventory.
Global Supply Chain Analytics Market: Trends and Prospects
The growth of the global supply chain analytics market is mainly driven by the growing awareness among consumers regarding the benefits of supply chain analytics solutions. In the last couple of years, the demand for these type of solutions has risen substantially across industries such as retail, manufacturing, life science, healthcare, electronics, defense, consumer packaged goods, automotive, and aerospace.
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Global Supply Chain Analytics Market: Regional Analysis
At present, North America accounts for a considerable share in the global supply chain analytics market owing to the presence of numerous leading players in the region. Asia Pacific is also expected to emerge as a promising region for the growth of the market owing to the flourishing manufacturing activities in the region along with growing investments for the purpose of foreign expansion. The rising awareness among organizations regarding the benefits of supply chain analytics is also expected to bode well for the growth of the market in these regions.
Global Supply Chain Analytics Market: Vendor Landscape
Some of the leading players operating in the market are SAS Institute Inc., Oracle Corporation, Sage Clarity LLC, Kinaxis Inc., SAP SE, IBM Corporation, Microstrategy, Genpact Ltd., Capgemini S.A., and Birst Inc.
Supply Chain Analytics Market Analysis by Size, Share, Growth, Trends and Forecast Up to 2023