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Supply Chain Analytics Market to hit $10 Bn by 2027; Global Market Insights, Inc.

The supply chain analytics market from on-premise deployment is estimated to capture more than 60% share in 2027 owing to several security and cost benefits offered by on-premise supply chain analytics tools and it eliminates the need for connecting to the cloud gateways, mitigating cyber risks.

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January 27, 2021 06:00 ET | Source: Global Market Insights, Inc

Selbyville, Delaware, Jan. 27, 2021 (GLOBE NEWSWIRE) —

Global Market Insights, Inc. has recently added a new report on the supply chain analytics market which estimates the industry valuation of supply chain analytics will cross US$ 10 billion by 2027. The increasing need to gain critical organizational data and optimize supply chain operations based on a large volume of data is significantly contributing to the market growth.

The inventory analytics solution market is anticipated to grow at more than 13% CAGR from 2021 to 2027. Advanced capabilities including tracking of inventory turnover and transport & warehouse equipment, have contributed to the rising demand. Companies can use this solution to manage their key performance indicators and optimize inventory costs & real-time visibility across the supply chain. With a rise in modernization across supply chains, the demand for inventory analytics solutions is growing significantly over the forecast period.

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The large enterprise segment is projected to witness a growth rate of over 15% through 2027. The majority of enterprises with geographically dispersed production facilities and customer base will require remote visibility across the supply chain. The use of a supply chain analytics platform provides real-time visibility across supply chain operations. Large enterprises can leverage these solutions to mitigate the impact and prevent the disruption before it occurs. The remote visibility and administration capabilities are contributing to the rise in demand from large enterprises.

The increasing demand for a connected and holistic view across supply chain operations is supporting the supply chain analytics market revenue. The enterprise-wide need for data-driven decisions in procurement and production is contributing to the demand for supply chain analytics solutions. Supply chain analytics solution provides access to unstructured data across supply chains, comprehensive visibility, and collaboration between stakeholders. The increasing need for actionable analytical insights and to automate operational workflows are expected to drive the market growth.

The supply chain analytics market from on-premise deployment is predicted to hold above 60% share in 2027. The several security and cost benefits offered by on-premise supply chain analytics tools are contributing to the rising demand. The on-premise deployment eliminates the need for connecting to the cloud gateways, mitigating cyber risks. In addition, companies can connect a particular supply chain analytics platform with the existing ERP systems. Functional capabilities along with effective backup & recovery functions of the supply chain analytics solutions are fueling the segment growth.

The use of supply chain analytics solutions across transport and logistics applications is expected to grow significantly from 2021 to 2027. Transport and logistics companies can leverage analytics tools to reduce the overhead costs and enhance efficiency as they are required to maintain sales & operations along with fleet efficiencies. The supply chain analytics solution can provide a centralized view of the overall logistics & transport operations. This can further enable companies to make proactive decisions to ensure business efficiencies.

Asia Pacific is projected to grow exponentially in the global supply chain analytics market with around 20% CAGR during 2021 to 2027. Consistent growth in the retail, infrastructure, and logistics sectors across countries is poised to boost the regional demand. Additionally, public and private enterprises in the region are emphasizing on analytics solutions to mitigate the impact of supply chain disruptions. For instance, in May 2020, the National Economic and Development Authority of the Philippines launched supply chain analytics tools to monitor and resolve the supply chain disruptions caused by the COVID-19 pandemic. This helped the authority to manage the supply chain operations effectively through in-depth real-time visibility.

Companies operating in the market are focusing on the development of integrated analytics solutions for the supply chain management. For instance, in January 2020, Tecsys, Inc. launched an integrated advanced analytics solution to assist in retail supply chain operations. The company integrated Microsoft’s BI tool with its order management analytics platform. This integration helped the company to ensure cloud-based access to a large volume of data generated by companies and retailers. This launch enabled the company to serve large enterprises with an analytics-based supply chain platform.

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Some major findings of the supply chain analytics market report include:

  • The growing need for comprehensive visibility and multi-enterprise engagement across the supply chain is contributing to the market growth.
  • Protection against data breaches & cybercrimes and remote access across enterprises are supporting technological development in the market.
  • North America is expected to hold a major market share for supply chain analytics solutions due to the expansive presence of enterprises and the penetration of supply chain solutions.
  • Major players operating in the supply chain analytics market are Blue Yonder Group, Inc., Capgemini SE, IBM Corporation, Infor, Oracle Corporation, and SAP SE.
  • Companies operating in the market are focusing on the development of integrated supply chain analytics platforms.

Partial chapters from the report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Supply Chain Analytics industry 360⁰ synopsis, 2016 – 2027

2.2 Business trends

2.3 Regional trends

2.4 Component trends

2.4.1 Solution trends

2.4.2 Service trends

2.5 Organization size trends

2.6 Deployment model trends

2.7 Application trends

Chapter 3 Supply Chain Analytics Industry Insights

3.1 Introduction

3.2 Industry segmentation

3.3 Impact of COVID-19 outbreak

3.3.1 By region

3.3.1.1 North America

3.3.1.2 Europe

3.3.1.3 Asia Pacific

3.3.1.4 Latin America

3.3.1.5 Middle East & Africa

3.3.2 Industry value chain

3.3.2.1 Suppliers

3.3.2.2 Supply Chain Analytics technology providers

3.3.2.3 Marketing & distribution channels

3.3.3 Competitive landscape

3.3.3.1 Strategy

3.3.3.2 Distribution network

3.3.3.3 Business growth

3.4 Supply Chain Analytics industry ecosystem analysis

3.5 Evolution of Supply Chain Analytics technology

3.6 Technology & innovation landscape

3.6.1 Big data integration

3.6.2 IoT

3.6.3 Software-as-a-Service

3.7 Regulatory landscape

3.7.1 Standards on Privacy and Web Analytics (Canada)

3.7.2 Health Insurance Portability and Accountability Act (HIPAA) of 1996 (U

3.7.3 General Data Protection Regulation (EU)

3.7.4 Exception of Text & Data Mining (TDM) in Copyright in Digital Single Market (DSM Draft Directive – EU)

3.7.5 Information Security Technology- Personal Information Security Specification GB/T 35273-2017 (China)

3.7.6 The General Data Protection Law (Brazil)

3.8 Industry impact forces

3.8.1 Growth drivers

3.8.1.1 Growing e-commerce industry in China and India

3.8.1.2 Increasing penetration of big data in the retail industry in the U.S.

3.8.1.3 Growing proliferation of smartphones in Asia Pacific

3.8.1.4 Increasing competition among retailers and increasing need for differentiation in North America

3.8.1.5 Growing need for analytics maturity in Asia Pacific

3.8.1.6 New generation of highly informed and demanding customers in Europe

3.8.2 Industry pitfalls & challenges

3.8.2.1 Data security and privacy concerns

3.8.2.2 Lack of technical expertise

3.9 Growth potential analysis

3.10 Porter’s analysis

3.11 PESTEL analysis

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:Arun HegdeCorporate Sales, USAGlobal Market Insights, Inc.Phone: 1-302-846-7766Toll Free: 1-888-689-0688Email: sales@gminsights.com

Global Market Insights, Inc

Selbyville, Delaware, UNITED STATES

Contact Us:Arun HegdeCorporate Sales, USAGlobal Market Insights, Inc.Phone: 1-302-846-7766Toll Free: 1-888-689-0688Email: sales@gminsights.com

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Source: https://www.globenewswire.com/news-release/2021/01/27/2164897/0/en/Supply-Chain-Analytics-Market-to-hit-10-Bn-by-2027-Global-Market-Insights-Inc.html

Supply Chain

After hack, officials draw attention to supply chain threats

The U.S. government is working to draw attention to supply chain vulnerabilities, an issue that received particular attention late last year after suspected Russian hackers gained access to federal agencies and private corporations by sneaking malicious code into widely used software.

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Last Updated: 2nd April, 2021 12:56 IST

The U.S. government is working to draw attention to supply chain vulnerabilities, an issue that received particular attention late last year after suspected Russian hackers gained access to federal agencies and private corporations by sneaking malicious code into widely used software.

After hack, officials draw attention to supply chain threats

AP

The U.S. government is working to draw attention to supply chain vulnerabilities, an issue that received particular attention late last year after suspected Russian hackers gained access to federal agencies and private corporations by sneaking malicious code into widely used software.

The National Counterintelligence and Security Center warned Thursday that foreign hackers are increasingly targeting vendors and suppliers that work with the government to compromise their products in an effort to steal intellectual property and carry out espionage. The NCSC said it is working with other agencies, including the Cybersecurity and Infrastructure Security Agency, to raise awareness of the supply chain issue.

April marks what the government is describing as the fourth annual National Supply Chain Integrity Month. This year’s event comes as federal officials deal with the aftermath of the SolarWinds intrusion , in which hackers compromised the software supply chain through malware. At least nine federal agencies were hacked , along with dozens of private-sector companies.

The NCSC said it plans to issue guidance throughout the month about how specific sectors, like health care and energy, can protect themselves.

“If the Covid-19 pandemic and resulting product shortages were not a sufficient wake-up call, the recent software supply chain attacks on U.S. industry and government should serve as a resounding call to action,” NCSC acting director Michael Orlando said in a statement. “We must enhance the resilience, diversity, and security of our supply chains. The vitality of our nation depends on it.”

Orlando and officials from the United Kingdom, Canada and Australia are participating next week in a Harvard University discussion about protecting the international supply chain.

The sheer number of steps in a product’s supply chain process gives a hacker looking to infiltrate businesses, agencies and infrastructure numerous points of entry and can mean no company or executive bears sole responsibility for protecting an entire industry supply chain. That’s why officials recommend that supply chains be diversified, that essential assets be identified and protected and that specific senior executives be assigned to deal with the concern.

Perhaps the best-known supply chain intrusion before SolarWinds is the NotPetya attack , in which malicious code found to have been planted by Russian military hackers was unleashed through an automatic update of Ukrainian tax preparation software, called MeDoc.

(Image credit: AP)

(Disclaimer: This story has not been edited by www.republicworld.com and is auto-generated from a syndicated feed.)

First Published: 2nd April, 2021 12:56 IST

Source: https://www.republicworld.com/world-news/us-news/after-hack-officials-draw-attention-to-supply-chain-threats.html

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Supply Chain

Ikea says it could have supply chain issues because of the Suez Canal blockage

The international furniture chain has over 100 containers atop the ship stuck in the Suez Canal, according to Swedish newspaper Svenska Dagbladet.

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IKEA

IKEA sign seen outside its showroom in Vitrolles, France. Denis Thaust/SOPA Images/LightRocket via Getty Images

After a dust storm beached the Ever Given container ship and blocked the Suez Canal on Tuesday, international companies are speaking out about how they may be affected.

Ikea, a Swedish furniture company operating in at least 41 countries, currently has over 100 containers with products atop the beached ship, according to Swedish daily newspaper Svenska Dagbladet. If the blockage continues, the company said it could “create constraints on our supply chain,” according to a spokesperson on CNN.

Ikea is not the only international company facing headaches from the canal crisis: Caterpillar, a construction machinery company, is considering airlifting products if necessary to circumvent the ongoing blockage, according to Bloomberg.

goods and supplies”>Coffee, toilet paper, seafood and a host of other goods and supplies could also fall into short supply if the blockage drags on. The Suez Canal authority said Saturday it hopes to float the ship soon.

The Suez blockage costs approximately $400 million per hour in delayed goods, according to an estimate from Lloyd’s List. As of Saturday, the canal has been blocked for over 72 hours, costing companies approximately $29 billion.

With about 12% of global trade passing through it every year, the Suez Canal is one of the world’s most important and most-traveled shipping routes. The existence of the man-made canal allows for a much shorter passageway between the Mediterranean and Red seas: before the creation of the Suez Canal, ships were forced to travel 15,000 miles around the Cape of Good Hope in South Africa to reach Europe and its surrounding waters.

On Thursday, commodity experts said that the prospect of ships being forced to return to traveling around the tip of Africa is “unlikely” due to the shipping delays it would lead to, but that may change if the blockage lasts for weeks.

Evergreen, the company that leases the Ever Given ship, appears to have already diverted course on several of its ships in the previous days to take the long Africa-based route, despite the extra costs. The Wall Street Journal reported that the journey may add $450,000 in costs to the journey by adding weeks to the estimated travel time.

Read the original article on Business Insider

Source: https://news.yahoo.com/ikea-says-could-supply-chain-144612887.html

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Supply Chain

COVID-19 and supply chains: a look to the past, present and future

With Infor recording triple digit growth across many of its solutions in last year, the demand for innovative answers to …

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With Infor recording triple digit growth across many of its solutions in last year, the demand for innovative answers to problems faced during the pandemic has never been higher. APAC Infor Nexus Supply Chain Leader Cas Brentjens sits down with MHD to discuss 2020 and what to look out for this year.

While geopolitical agendas and security risk were driving a shift towards accelerated digitisation, it was the unprecedented challenges faced during COVID-19 that pushed supply chains to completely and suddenly transform their operations.

APAC Infor Nexus Supply Chain Leader Cas Brentjens says many businesses were unrecognisable to what they were this time last year.

“We saw traditional legacy systems being exposed for how inflexible they were and not adapting as fast as needed during the pandemic,” Cas says.

“This was the point where many organisations says this is the time to replace our old legacy system with three steps forward.”

A key contributor to the fast changes that took place last year was the ability to make quick decisions without the historical need for input or approval from multiple stakeholders – which has continued on in 2021.

“After the initial month I would say (companies) definitely put on the brakes for a while to see what was happening, but after that you saw acceleration in decision making because they had to deal with a lot of disruption, Cas says.

The huge imbalance of container capacity caused a huge surge in prices that has affected not only the supply chain sector but many other industries. As air capacity has been significantly reduced, prices have been consistently three times the norm which has had a devastating impact on the e-commerce boom.

As much of e-commerce travels by air, Cas says companies had to adjust their operations to factor in inflated prices.

“They had to have better contracts in place, better alternatives in place, air to ocean options in place and have the right tools ready – it was acceleration and digitisation of the supply chain,” he says.

COVID-19 CHALLENGES

Logistics companies had to face a number of challenges presented by the unprecedented circumstances brought on by COVID-19. Initially, there were supply disruptions form the supply markets in Asia that were resolved quickly. Then market disruptions globally quickly followed, and companies were forced to come up with alternatives during lockdown periods.

Cas says companies started to pull back on orders and extend payment terms while suppliers screamed for cash which drove many new initiatives, including a focus on trade finance and bypassing retail channels.

“When we spoke with all kinds of banks, retailers, manufacturers or brand owners they all says we wished we had digitised much more than where we are,” he says.

“The major lesson is the ultra-fast adoption of digitising anything – companies had to understand they had to be agile and resilient.

“Supply chains were quite resilient already they just had to deal with a new kind of disruption.”

Cas says that companies that had already begun digitising were well equipped to offer better alternatives during COVID-19.

“They could run faster new channels and better sourcing and delivery channels; I think the companies that were fast could benefit from the situation,” he says.

“Businesses very quickly learnt it would be a long-term situation, so they started to get themselves ready and look into things like trade finance programs which were new investments that needed to happen.”

He says existing issues including trade disputes born from geopolitical agendas and cybercrime activity were ongoing challenges supply chains also faced in 2020.

“That also requires advancement, digitising, infrastructure digitising and digitising supply chain – they were all coming together, it wasn’t just the pandemic happening in the last year, there were a few factors that were driving transformation,” Cas says.

TO THE FUTURE

While it was hard to adjust from the pre-COVID world to life during a pandemic, Cas says supply chains would adjust to a new normal.

“Take the gig economy with home deliveries for example, a lot of that will stay,” he says.

“A lot of trends that already existed including a shift to e-commerce, going digital and going to a gig economy were already present and were simply accelerating.

“This is much more indicative of what the new normal will look like, rather than going back to the same trends and situation in 2019.”

He says much of the digitisation and flexible working from home arrangements would likely stay in the future.

“People have adjusted, and this bring all kinds of productivity and improvements as well,” Cas says.

Retail grocery shopping will also mostly remain digital due to people valuing convenience and quality which has improved over the last year due to the competition in the area.

There have also been huge investments in fulfilment centres across the Asia Pacific with logistics providers heavily investing in new warehouses due to the e-commerce boom.

“The warehouses are all designed for e-commerce business, they are not designed for bulk or pallet movements, they’re designed for parcel movements,” Cas says.

“We have seen it in our market as well with our growth in warehouse management solutions being in triple digits.

“We hope to continue investment in this area as well across the globe and in the Asia Pacific.”

Cas saya the new normal would also mean changes for suppliers.

“We have always been promoting a multi enterprise business network,” he says.

“If you’re a part of that network that brings together in the supply chain community the buyer, the supplier, the logistics service providers, the major institutions and the customer brokers, if you have that in place you have alternatives, you have a payment gateway.”

Grocery retailers who have adopted the network model have seen a benefit and a stronger competitive advantage by becoming less dependent.

“Moving from the traditional model to that model is definitely a bit of a challenge because you have to change organisations, change thinking, add a lot of digital expertise into the company and getting your community ready for that,” he says.

The further implementation of trade finance and warehouse automation would also be areas that are expected to continue growing.

“The level of automation is incredible and logistics sales providers are now saying the investment is justified, which maybe five years ago wasn’t,” Cas says.

“Picking robots are more normal for new warehouse designs. Companies are taking advantage of all the latest developments because they don’t want to be stuck anymore in the whole world solution.”

Cas says supply chains needed to continue to be on the lookout for impacts from geopolitical agendas and risk in combination with the effects of disruptions caused by the pandemic this year.

“There are frameworks you go to when you look at accomplishments from resolve, to resilience to return to reimagine,” he says.

“Now it looks like we’re heading a return to the reimagination phase, so I think companies are still transforming some of their business models to ensure they stay competitive with all the disruptions that have come during the pandemic.”

“We saw traditional legacy systems being exposed for how inflexible they were and not adapting as fast as needed during the pandemic,” Cas says.

Source: https://mhdsupplychain.com.au/2021/03/08/covid-19-and-supply-chains-a-look-to-the-past-present-and-future/

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