In current times, the industrial sector has encountered many challenges such as economic uncertainty, changing consumer purchasing patterns, short-lived product lifecycles, increased product choices, and stricter compliance stipulations.
With altering consumer preferences and unpredictable buying patterns, both retailers and suppliers are stocking limited inventory, which in turn creates supply chain delays. In such a scenario, retailers are also facing a challenge to optimize the supply chain network, manage several suppliers for a multitude of sales channels all over the world, and keep a check on logistics costs.
What is the best way, then, to enhance supply chain visibility and improve its efficiency? In the last 10 years, the ubiquity of smart mobile devices has dramatically propelled organizations in this area. Today’s enterprise mobility tools provide unparalleled supply chain visibility and transparency, thus empowering enterprises to address concerns in the entire value chain.
Browse Market Research Report of Smart and Mobile Supply Chain Solutions Market:
Technology and High-Speed Communication Medium form the Basis of Mobile Supply Chain Systems
Internet-based retail supply chain outsourcing tools allow companies to efficiently manage complex supply chains by simplifying operations. The use of advanced technology enables major market players to reduce costs and optimize supply chain management.
Such solutions allow enterprises to leverage flexible ‘what-if’ analyses and effective feedback for the best possible synchronization of activities throughout the supply chain. Hence, it paves the way for an increase in revenue, minimized cycle times, enhanced forecast precision, optimized inventory, higher production efficiency, higher benefits from transportation savings, and improved customer satisfaction.
Thus, mobile supply chain solutions are the smart way for enterprises to reap a range of advantages and offer efficient, economically viable solutions. Owing to such attributes, the global smart and mobile supply chain solutions market is estimated to grow at a CAGR of 13.2% from 2014 to 2020, forecasts a new market study by Transparency Market Research (TMR).
Retail and manufacturing sectors account as the largest end users of smart and mobile supply chain solutions, with the former holding 18.5% and the latter holding 18.4% of the market in 2013.
Analysts take into account the factors that influence the smart and mobile supply chain solutions market; here’s a lowdown:
- Increasing need for agile warehouse management and fluctuating fuel prices worldwide will account for the significant growth of connected transportation management systems (TMS) and connected warehouse management systems (WMS) in the coming years.
- Rising demand for integrated supply chain solutions in logistics and retail will drive demand for smart and mobile supply chain solutions in next few years.
- Sophisticated IT infrastructure and flourishing organized retail sector account for North America and Europe’s dominance in the market in 2013.
- Globalization and large business volumes will lead emerging markets in Asia Pacific and Middle East to register high demand for advanced supply chain management solutions.
- Strong economic growth combined with modernization of manufacturing and retail sectors in emerging nations in Asia such as China and India will drive demand for smart and mobile chain solutions.
Browse Market Research Press Release of Smart and Mobile Supply Chain Solutions Market:
Supply chain solutions employed by developed economies in North America are setting the standards for economies around the world to observe and adopt.