There is one common thread that is consistent throughout the market today. Supply chain reliability continues to be at the forefront of many organizations faced with ongoing challenges such as increased disruptions, globalization and predicting future demand.
An ever-expanding e-commerce market along with a fast delivery of goods adds up to the tough competition among logistics service providers. This is one of the reasons why they are looking for logistics software solutions to automate supply chain network.
The research figures prove it is so. The Gartner report says the global supply chain management software (SCMS) revenue jumped up to 13.9% totaling $12.2 billion in 2017. Transparency Market Research anticipates even bigger growth. Following the forecast made, the value will reach $32,908.2 million by 2026 (a 11.2% rise between 2018 and 2026).
The market share of the warehouse management system will see a steady increase too. The graph below shows how the demand is climbing throughout 2015-2024.
As online sales channels keep moving forward, so do SCMSs. They may be powered by warehouse, inventory, and transportation management modules to ensure better transparency across the supply chain, improve stock monitoring, and reduce operating costs.
Now, efficient solutions are custom-heavy. It can be explained by the increased complexity of supply chains. Here are some of my observations on which of them are getting increasingly popular and what features can power them up.
Supply Chain Software Solution Being in High Demand
Currently, warehouse management systems (WMSs) are among the most frequently requested software for logistics industry. Why is it so? Grand Review Research provides a well-grounded explanation.
“The transportation & logistics segment is projected to rise at the highest CAGR of about 18.0% from 2018 to 2025. This may be attributed to soaring need for technologically advanced warehouse management systems that can help logistics companies to keep their operations aligned with the ever-demanding market.”
The WMS features required are plentiful, but logistics providers emphasize the need for the latest technology delivering end-to-end visibility on any given shipment to all stakeholders and cloud-based solutions.
Grand Review Research also predicts that this growing transition to the cloud will propel “the demand for WMS based on the Software-as-a-Service (SaaS) model.” In other words, logistics service providers will be able to speed up the software adoption regardless of the organization size and complexity.
Going to the cloud turns to be more beneficial than using on-premise solutions, as businesses can minimize laborious tasks, e.g. implementation time, system updates, software maintenance, infrastructure management, etc.
At Innovecs, we have a hands-on experience in delivering both types of software, cloud and on-premise solutions. The next passage will shed some light on the logistics software we can build.
Logistics Software Solutions Developed by Innovecs
Within the supply chain industry, Innovecs has helped companies like 10-4, US Cold Storage, Elementum, and SMC3 to revamp the existing software or build new solutions and improve connectivity among all the supply chain silos.
One of our customers, a cold chain operator, required a warehouse management system to track pallet and asset locations, identify anomalies in assembly and drive zero error rate in packaging. We created web and mobile solutions powered by image recognition, data aggregation and visualization, alerts and reporting. In turn, the customer improved the overall management of stock and reduced error rates and stock losses.
Innovecs has also delivered data visibility solutions (with GIS mapping) improving supply chain management and fostering predictive analytics. Other challenges we help solve embrace global visibility, real-time data aggregation (stock availability, shipment status, etc.), calculating accurate time of arrival, and transportation management.
Far too often, we are approached by organizations looking for a software provider to understand their project requirements, accurately dedicate resources and define product delivery within a given timeframe. If you are also in search of the reliable technology partner, get in touch with our team, we would be glad to help you out.