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Cloud Supply Chain Management (SCM) Software Market: Global Drivers, Trends, and Forecasts to 2023
[August 10, 2017]

Cloud Supply Chain Management (SCM) Software Market: Global Drivers, Trends, and Forecasts to 2023


Cloud technology has been around for almost 20 years now, but supply chain professionals are still reluctant to adopt cloud and migrate their systems. Though the industry is in its initial stages, cloud computing will help supply chain managers to closely track a product throughout its lifecycle. Cloud-based SCM will significantly cut down the product cost as it will locate the shipment during any stage of the transportation. With the changing supply chain environment, cloud computing will become an advantageous process, gaining more market traction over the traditional systems. While the traditional SCM is more transactional, the cloud approach offers a 360-degree control and real-time monitoring. Cloud-based SCM offers scalability, reliability, cost-effective, integrated design, and immediacy over localized SCM model.

Market Analysis: The SCM market is mature, however, the emergence of cloud computing has changed the industry landscape and has improved customer experience. The “cloud-based SCM software” market is expected to reach $7.03 billion by 2023, growing at a CAGR of 14.3% during the forecast period 2017–2023. The incorporation of cloud into SCM creates myriad benefits that redefine the traditional supply chain networks, offers better supply chain visibility, helps in handling the surging data volumes and in integrating digital technologies. Moreover, the need for improved business agility, scalability, faster deployment, and reduction in TOC will drive the organizations to deploy cloud model of SCM.

For more information kindly visit : https://www.bharatbook.com/information-technology-market-research-reports-893310/cloud-supply-chain-management-scm-software-global-drivers.html

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