The global market for supply chain analytics is expanding notably. This is brought on by a number of things, such as the rising need for supply chain transparency, the requirement to enhance supply chain operations, and the enlarge use of cutting-edge technology like big data analytics and artificial intelligence.
Supply chain analytics involves the use of data analytics tools and techniques to gain insights into various aspects of the supply chain, including inventory management, demand forecasting, logistics, and supplier performance. These insights can help organizations to identify inefficiencies, reduce costs, and improve overall supply chain performance.
The requirement for real-time visibility and control as well as the growing complexity of supply chain networks are projected to drive the global market for supply chain analytics in the upcoming years. Among others, SAP SE, IBM Corporation, Oracle Corporation, and SAS Institute Inc. are significant market participants.
There has been a renewed importance on supply chain agility and resilience due to the ongoing COVID-19 outbreak. Organizations can expect supply chain analytics to be crucial in managing supply chain interruptions and reducing the effects of upcoming crises.
Globally, the demand for supply chain optimisation, transparency, and persistence is fueling a surge in the market for supply chain analytics.