Global Supply Chain Analytics Market is expected to reach US$ XX Mn by 2026 from US$ XX Mn in 2020 at a CAGR of 17.5% during the forecast period.The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Supply Chain Analytics Definition:Supply Chain Analytics is the tool, which helps deliver growth in revenues, improve margins, manage working capital in a better way and enhance the control points across the supply chain. It provides increased visibility, enables actionable insights with advanced analytics tools such as cost sensitivity analysis, should-cost analysis, and dynamic fleet routing, resulting in supply chain processes that sense, run, and learn from the outcome of actions, at scale to meet the needs of the changing supply chain and maintain a competitive edge.Global Supply Chain Analytics Market Dynamics:Commodity volatility, changing demand forecasts, and supplier-specific challenges have affected nearly every organization including those with the leading managed supply chains in the world. Even top supply chain performers have faced embarrassing stock-outs during periods of unanticipated demand in recent years. Demand volatility has increased significantly and permanently, making demand and inventory management a challenge.Advanced analytics is applied to these areas to more accurately anticipate demand, predict and monitor supply and replenishment policies, and plan inventory flow of goods and services. The latter is especially relevant for customer-focused organizations, allowing them to leverage their historic data sources to optimize service levels, augment investment decisions, and improve supplier performance and quality controls. Companies will also be able to run simulations on best-fit solutions, program contextual exception handling alerts, and use multi-criteria inventory ranking with the assistance of advanced analytics, which are some of the driving factors contributing to the growth of the Global Supply Chain Analytics Market.Globalization has created an explosion in the number and types of suppliers, manufacturing units, and distribution locations. While the business growth opportunities are convincingly strong, growing product variance tailored to globally dispersed customers has created a complex web of regional supply chains that must be closely and carefully monitored. Increasing supply chain efficiency begins with enhancing basic metrics and reporting, as they provide the essential data for performance improvement initiatives and end-to-end visibility of their extended supply chains.However, irreversible globalization is making it necessary to go beyond the basics to achieve maximum impact. Advanced analytics-driven control towers can monitor real-time critical events and KPIs through multiple touchpoints. When combined with predictive analytics, control towers can provide valuable savings in areas such as freight optimization for the customer; a centralized KYC would contribute in a big way. So, the advantages achieved like an increase in supply chain responsiveness, optimize cost, and minimize customer impact are expected to drive the Global Supply Chain Analytics Market.Fluctuating demand patterns and an expanding base of suppliers and logistics partners have driven companies to continuously rethink their logistics network strategies. Companies can realize strong ROI improvements through analytics-driven planning activities, such as route optimization, load planning, fleet sizing, and freight cost reconciliation. Instead of isolated changes to network metrics, analytics teams can centrally monitor and adjust network designs periodically for increased cost reduction, which is the main driving factor to propel the growth of the Global Supply Chain Analytics Market.Global Supply Chain Analytics Market Segment Analysis:The report groups the Global Supply Chain Analytics Market in different segments like by component, by deployment, by enterprise size, by end-user and by region to forecast the revenues and analyse the market share of each segment over the forecast period.
