The COVID 19 Impact on Supply Chain Planning System of Record market is expected to grow at a CAGR of 11.4% to reach US$ 62.6 Bn in 2031.
The global supply chain planning system of record market size is projected to grow USD 600 million by 2028, at a CAGR of 30% over the forecast period 2021-2028. The market is expanding due to the advancement of industrial-grade digital technology, a shift toward cloud-based supply chain planning system of record software, and a rise in demand for enhanced supply chain visibility. The lockdowns enforced as a result of the COVID-19 outbreak have shut down economies and are affecting every part of the global supply chain. In the coming years, end-use industries are likely to face tremendous challenges in exploding data volumes resulting in poor productivity and stark planning gaps. Companies are fast investing in building high-tech supply chain planning technologies to drive profits, paving novel growth opportunities in the global supply chain planning system of record market. However, lack of knowledge could affect an early adoption, thereby crippling full-fledged growth in global supply chain planning system of record market.
A supply chain planning system of record is a solution infrastructure to enable smooth creation, alignment, management, collaboration, and sharing of planning data across stakeholders in the supply chain to improve operational planning and tactical delivery. It communicates data from the formulation of a demand plan through the supply-side reaction, as well as from comprehensive operational planning to tactical-level planning. According to a Supply Chain Media study of 143 European supply chain decision-makers, the COVID-19 epidemic is having a significant impact on the supply chains of nearly all European distributors, manufacturers, and retailers. Although 78% are having a negative short-term impact, 17% are enjoying favorable impact, and only 5% are unaffected. COVID-19 compelled several businesses and whole sectors to rethink and alter their global supply chain strategy. According to the EIU (Economist Intelligence Unit), over-reliance on Asian, particularly Chinese, suppliers and clients was already a major concern for MEA businesses prior to the COVID-19 disruption in 2020, and following the outbreak, MEA businesses plan to diversify supply chains and refocus on local produce where possible. These developments are anticipated to manifest significant growth triggers in the coming years.
The sudden Covid-19 pandemic crisis has however improved reliance on eCommerce. To effectively operate in pandemic technologies, such as Machine Learning (ML) and AI, are beginning to drive corporate innovation initiatives, which has fueled the rise in the use of cloud-based SCM solutions among SMEs. The supply chain planning system enables organizations to monitor precisely where their existing systems are underperforming, allowing them to be prepared for minor disruptions or catastrophic developments, and shift resources for major outcomes. Furthermore, it produces data-driven and trustworthy insights that may be utilized to improve corporate operations. The growing need to increase the supply chain planning system, as well as the demand for more transparency of orders, shipment information, and inventory are driving market expansion for supply chain planning system of record market in COVID-19 era .
The companies mentioned in this category can be customized to fit the demands of the customer. Some of the leading players in the global market are JDA Software, ToolsGroup, OM Partners, Logility, Arkieva, RELEX Solutions, GAINSystems, SAP, Anaplan, DynaSys, Kinaxis, Slimstock, FuturMaster, Optimity Software, Icron Technologies, Demand Solutions, Oracle, E2open, and Blue Ridge.
Supply Chain Planning System Of Record Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||US$ 62.6 Bn|
|Growth Rate||CAGR of 11.4% during 2021-2031|
|Segment Covered||By Solution, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Oracle Corporation,SAP SE,Descartes Systems Group Inc.,Infor Inc.,IBM Corporation.|
Key Segments of the Global Supply Chain Planning System of Record Market
Type Overview, 2021-2028 (USD Million)
Application Overview, 2021-2028 (USD Million)
- Small Enterprises (1-499 Users)
- Medium-Sized Enterprise (499-1000 Users)
- Large Enterprises (1000+ Users)
Regional Overview, 2021-2028 (USD Million)
- North America
- Rest of Europe
- Australia and New Zealand
- Rest of APAC
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America
Reasons for the study
- To offer segmentation analysis based on type, application, and geographic location.
- To give a thorough study of the market structure as well as projections.
What does the report include?
In-depth industrial analysis, production knowledge, and sales overview of multiple players throw additional light on the market's future growth rate and scope.
- Profiles of participants, as well as product descriptions, overviews, and company data
- The precise market valuation, which includes size, share, and revenue, are also addressed for better knowledge of the market position.
- The research includes geographical distribution, business profiling, and various market segments.
Who should buy this report?
- Industry specialists who wish to provide current and anticipated global market knowledge.
- Analysts, strategy managers, researchers, and government agencies seeking market intelligence to aid in future decision-making.
- This study is aimed at worldwide market players and stakeholders. Every industry participant will profit from the research.
- Government agencies, regulatory agencies, policymakers, and organizations interested in unraveling market trends
Frequently Asked Questions (FAQ) :
The idea of supply chain planning has been used in industry for almost a half-century, but many converging causes and technology are aiding in the transition to a new era of mature supply chain planning. As a result, industries are fast adopting advanced supply chain planning system of record solutions to face the challenges of market instabilities. Demand forecasting and management, sales and operations planning, inventory optimization, response, and supply planning are all required in an organization to promote market growth. Though, several significant concerns such as too much planner interaction, insufficient automation, complicated interface, and reliance on too much Excel are impeding industry growth.
Furthermore, the increased need for demand management solutions among organizations, as well as the increased use of SCM software in the healthcare and pharmaceutical sectors, drives supply chain management market expansion. However, the high cost of implementing and maintaining SCM solutions, as well as the rise in security and privacy concerns among companies, are likely to stymie market expansion.
The on-premise segment dominated the supply chain planning system of record market share in 2019, and this trend is anticipated to continue over the forecast period. This is due to the widespread use of on-premise supply chain planning systems of record in highly regulated sectors where storing sensitive data in a public cloud environment is prohibited. However, due to its numerous benefits to industry verticals such as reliability, scalability, integrated design, cost-effectiveness, and immediacy over traditional SCM models, the cloud-based segment is expected to experience the highest CAGR during the supply chain planning system of record market forecast period.
The large enterprise segment dominated the supply chain planning system of record market in 2018, and this trend is likely to continue over the forecast period. This is due to a huge increase in the demand for software in major organizations to aid in the collecting of critical business data such as inventory levels, anticipated sales statistics, supplier information, and others from many and varied sources, which drives the market growth.
North America led the supply chain planning system of the record market in 2019 and is expected to continue to do so during the forecast period. APAC countries such as China is also exhibiting promising potential with favorable logistics developments. The market's expansion is being driven by an increase in transportation and logistics spending, which is increasing the deployment of automation technologies in the logistics and supply chain. North America’s transportation and logistics industry is vast and competitive, and encompasses diverse industries like shipping, railways, and air services. Increased use of SCM solutions in transportation management is projected to fuel market development in this area, owing to factors such as the transportation sector's digital revolution, increased urbanization, and increased traffic congestion.