Over the years, automation has emerged as a critical driving force in supply chain management (SCM). Around 45.1% of businesses recognize it as vital to this sector’s success. Therefore, the significance of harnessing this technology to optimize supply chain operations cannot be overstated.
Selecting the right software has thus become critical for organizations striving to achieve efficiency and cost-effectiveness in their supply chain processes. This article looks at the best supply chain software companies in 2023 to help you find the ideal solution that meets your needs.
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Supply Chain Management Software Market
The supply chain management software market is set for substantial growth in the coming years. Projections indicate the market’s revenue will be $19.25 billion in 2023. This growth trajectory will likely persist, with an annual growth rate (CAGR 2023-2028) of 4.67%. It can significantly expand the market’s volume to around $24.19 billion by 2028. These figures highlight the increasing significance of supply chain management software in enhancing operational efficiency and optimizing logistics.
Why do you Need Supply Chain Management Software?
SCM software is a crucial asset for modern businesses for the following reasons.
End-to-end Supply Chain Visibility
SCM software offers a comprehensive view that allows you to monitor the movement of goods from suppliers to end customers. With this level of transparency, you can swiftly identify supply chain bottlenecks and enhance operational efficiency.
Demand Forecasting
SCM Software incorporates advanced analytics and historical data to facilitate demand forecasting. It empowers your organization to anticipate shifts in customer demand accurately.
Cost Control
SCM Software provides tools for cost analysis and optimization. It helps you identify cost-saving opportunities throughout the supply chain. Your organization can enhance its profitability by maximizing cost-efficiency.
Tackling Delays
Delays in the supply chain can have far-reaching consequences, from missed delivery deadlines to increased carrying costs. SCM Software offers multiple benefits of smart warehousing such as real-time tracking and monitoring capabilities. It allows you to identify potential delays early in the process.
Tips to Choose the Best Supply Chain Management Software
Here are some points to know when selecting the best SCM software.
- Scalability: As your organization evolves, your supply chain needs will likely change. Ensure the SCM software can adapt to these changes without disruptions.
- Integration: Opt for SCM software that seamlessly integrates with your ERP (enterprise resource planning), WMS (warehouse management system), and other relevant software.
- User-friendliness: Consider software with an intuitive interface and user-friendly navigation. Training and onboarding should be straightforward for your team.
Top 10 Supply Chain Management Software Solutions for 2023
Here are the ten best supply chain management software for your business.
Shippabo
Shippabo caters effectively to businesses of diverse sizes. Its extensive feature set includes critical aspects like cost management and SKU-level visibility. Shippabo boasts an intuitive interface that simplifies the tracking and management of supply chain operations. It is a valuable tool for organizations seeking efficiency in their logistical operations.
Gramener
Gramener, an award-winning data science company, offers AI-powered supply chain management solutions to ensure end-to-end supply chain visibility. Some of our key data-driven solutions for supply chain management are smart warehouse, smart mobility a.k.a fleet management, and supply chain analytics. These solutions enable companies to increase demand forecast accuracy, reduce turn time, facilitate smart labor allocation, load time, and more.
NetSuite
NetSuite’s supply chain management software includes features for supply and demand planning, inventory optimization, and more. Leveraging current and historical data, NetSuite facilitates proactive planning for future demands. Additionally, the platform empowers organizations to manage supply and inventory across multiple channels and locations efficiently.
Precoro
Precoro excels in streamlining purchase order approvals with ease. Its user-friendly approval workflow empowers organizations to designate the precise departments or individuals responsible for granting clearances. With the ability to set customizable thresholds and policies and the added convenience of mobile approval capabilities, Precoro offers a comprehensive solution for managing purchase orders effectively.
FreightPOP
FreightPOP is a distinguished supply chain management software uniquely tailored for shippers. The platform offers robust supply chain management software features, including comprehensive freight planning and rigorous freight auditing. FreightPOP offers no contractual obligations to ensure businesses get started within hours. With over 300 integrations available, FreightPOP seamlessly connects with CRM and ERP solutions.
Magaya Supply Chain
Magaya Supply Chain offers comprehensive supply chain management software tools ideally suited for businesses seeking automation in their operations. It also offers versatile automation capabilities, like streamlining forms and simplifying filings. Furthermore, when integrated with the Magaya Digital Freight Platform, it extends its functionality to include supply chain management and customs compliance.
Logiwa WMS
Logiwa WMS is a premier supply chain management software tailored to the needs of e-commerce businesses. The software integrates with over 200 third-party tools, including e-commerce platforms and marketplaces. Offering real-time synchronization and an open Application Programming Interface (API), Logiwa ensures smooth and efficient operations. Its built-in automation rules further expedite order fulfillment processes and simplify shipping tasks.
Tada
Tada excels in facilitating seamless collaboration across diverse suppliers and internal departments. With distinct collaboration tools, Tada enables businesses to forecast demand and efficiently process purchase orders. The app’s intuitive interface ensures seamless sharing of changes and swift resolution of escalations. Furthermore, Tada’s analytics provide valuable insights into real-time trends and patterns.
Anvyl
Anvyl offers a sophisticated supply chain management solution designed to enhance operational efficiency. With its automated milestone tracking feature, Anvyl simplifies order and delivery management by allowing suppliers to check in seamlessly. The platform further streamlines processes by enabling payment tracking. It offers a comprehensive audit trail and facilitates collaborative efforts on new projects. Anvyl’s commitment to real-time updates improves logistics and fosters transparency within supply chains.
Epicor Kinetic
Epicor Kinetic’s supply chain management software is meant for efficient warehouse management. It offers essential features like automated picking and packing, resource allocation, and prepack fulfillment. Furthermore, Epicor Kinetic streamlines warehouse operations for optimal productivity. The software’s real-time inventory tracking ensures up-to-date visibility into stock levels. Moreover, its capability to integrate with external supplier portals provides a comprehensive view of the entire supply chain.
How does Supply Chain Optimization Software Transform Businesses?
Supply chain optimization software has ushered in a transformative era for businesses, exemplified by companies like UPS. Traditionally, the logistics giant managed its vast shipping network through historical data and expert planners’ insights. However, today, UPS harnesses the power of the Harmonized Enterprise Analytics Tool (HEAT), a sophisticated business intelligence platform.
HEAT enables real-time package tracking within the company’s expansive shipping network by aggregating and scrutinizing customer, operational, and planning data. The innovative use of technology enhances operational efficiency and exemplifies how supply chain optimization software empowers businesses to leverage data-driven insights for precise decision-making.
Boost your Supply Chain Management Efforts Today with these Solutions
The choices of software solutions are extensive and tailored to meet diverse business needs. From AI-driven solutions of Gramener to the collaborative prowess of Tada, businesses have access to a wealth of tools ideal for optimizing their supply chain operations. The right software can help your organization streamline processes and reduce costs. Remember to assess your needs and consider scalability and integration capabilities. Making informed choices and leveraging these solutions will help you achieve precision in supply chain management.
