Supply Chain Suites are essential tools for businesses to manage their operations efficiently. From tracking inventory to monitoring shipments, Supply Chain Suites provide a centralized platform to manage all aspects of the supply chain.
In this blog post, we will explore key statistics about Supply Chain Suites and their impact on business efficiency.
Key Supply Chain Suites Statistics 2023 – MY Choice
In a recent survey, 75% of supply chain professionals reported using supply chain software.
The use of supply chain management software is expected to grow at a compound annual growth rate of 7.8% from 2020 to 2026.
Over 80% of supply chain professionals believe that supply chain technology will significantly impact their operations in the next 5 years.
In the same survey, nearly 70% of supply chain professionals cited increasing operational efficiency as their primary motivation for investing in supply chain technology.
The majority of supply chain suites include features such as demand planning, supply planning, inventory optimization, and transportation management.
Approximately 60% of organizations use supply chain suites to track inventory levels and improve order fulfillment accuracy.
The integration of supply chain suites with other enterprise systems, such as ERP and CRM, is becoming increasingly important, with over 60% of organizations planning to integrate in the next 5 years.
The use of real-time data and predictive analytics is also becoming increasingly important in supply chain management, with over 50% of organizations using these tools to improve decision making.
The adoption of cloud-based supply chain suites is also on the rise, with over 40% of organizations using cloud-based solutions for supply chain management.
The implementation of supply chain suites is expected to have a positive impact on the overall cost and efficiency of supply chain operations, with organizations expecting to see an average cost reduction of 10-15% over the next 5 years.
Supply Chain Suites Stats:
Market Size and Growth Rate
Market Size (2019)
Market Size (2025)
Business Process Management
Grand View Research
Supply Chain Management
Allied Market Research
Supply Chain AI
Marketing Automation Software
Market Segmentation by Industry
Tech, Media, Telecom
Retail and Consumer Markets
Energy, Utilities, and Resources
Government and Public Services
Supply Chain Suites Software Statistics
Prices for RPA software
Decrease 10-15% by the end of 2020, and 5-10% in 2021 and 2023
Supply Chain Suites Adoption Statistics
Use of true AI in BPA
Low, but has accelerated in recent years, with a 25% increase in enterprise AI adoption
McKinsey’s 2019 Global AI survey
Businesses that have fully automated at least one function
McKinsey & Co.
Companies piloting solutions to automate at least one business process
McKinsey & Co.
Median accuracy rate of forecasts
U.S. Employee engagement
38% (new high in May 2020)
U.S. Productivity Growth
Bureau of Labor Statistics
Manufacturing sector growth
0.5% (since the financial crisis)
Millennials who envision leaving their jobs within 2 years
Percentage of occupations that could have at least one third of workday activities automated
Retail respondents who have implemented AI
60% (up from 35% the prior year)
AI contributors to increased revenues
Companies that have embedded at least one AI element into a process or product
58% (up from 47% in 2018)
According to a recent survey, 91% of supply chain professionals believe that technology has a significant impact on their supply chain operations.
The global supply chain software market is expected to grow from $10.8 billion in 2020 to $16.6 billion by 2024, at a CAGR of 9.6%.
A study by Accenture found that companies that fully implement supply chain suites can improve their supply chain performance by up to 15%.
Gartner predicts that by 2023, 90% of supply chain organizations will have adopted some form of supply chain suites.
In a survey of 500 supply chain professionals, 67% reported that their company had adopted supply chain suites to manage their supply chain operations.
Supply Chain Suites Facts:
Supply chain suites provide real-time visibility into supply chain operations, allowing companies to quickly identify and resolve potential issues.
The software solutions integrated in supply chain suites can improve supply chain efficiency by automating manual processes and reducing errors.
Supply chain suites can also help companies better manage their inventory levels, reducing the risk of stockouts and overstocking.
The integration of supply chain management processes can also lead to better collaboration and communication between suppliers, manufacturers, and distributors.
Companies can also use supply chain suites to analyze data and make informed decisions about their supply chain operations.
Supply Chain Suites Benefits:
Improved Supply Chain Performance
Increased Efficiency and Productivity
Better Inventory Management
Improved Collaboration and Communication
Better Data Analytics and Decision-Making
Supply Chain SuitesTrends:
Adoption of cloud-based supply chain suites is increasing, as companies look to reduce IT costs and improve accessibility.
Companies are also investing in predictive analytics and machine learning to gain better insights into their supply chain operations.
The integration of blockchain technology in supply chain suites is also gaining popularity, as it provides a secure and transparent way to manage supply chain transactions.
Companies are also focusing on sustainability and social responsibility, and are incorporating these aspects into their supply chain management processes through the use of supply chain suites.
The integration of the Internet of Things (IoT) in supply chain suites is also becoming increasingly popular, as it provides real-time visibility into supply chain operations.
Supply Chain Suites Market Analysis:
North America is the largest market for supply chain suites, accounting for 40% of the global market share.
Europe is the second-largest market, accounting for 25% of the global market share.
Asia-Pacific is expected to see the highest growth rate in the supply chain suites market, due to the increasing adoption of technology in the region.
The transportation and logistics industry is the largest adopter of supply chain suites, accounting for 35% of the market share.
Small and medium-sized enterprises (SMEs) are also increasingly adopting supply chain suites, as they look to improve their supply chain operations and gain a competitive advantage.
Impact of Supply Chain Suites on Business Operations
Companies that use Supply Chain Suites have seen an average increase of 8% in overall business efficiency.
Implementing a Supply Chain Suite can lead to a reduction in operational costs of up to 15%.
85% of businesses that use Supply Chain Suites report improved visibility into their supply chain operations.
Companies that use Supply Chain Suites are able to make better use of data and analytics, leading to improved decision-making and increased efficiency.
The implementation of a Supply Chain Suite leads to an average increase of 9% in on-time delivery rates.
Key Features of Supply Chain Suites
Real-time tracking and monitoring of inventory levels
Automated purchase ordering and shipment tracking
Integration with other business systems and applications
Advanced reporting and analytics capabilities
Improved visibility into the supply chain and supplier performance
Adoption of Supply Chain Suites in the Business World
40% of businesses have adopted Supply Chain Suites to improve their operations.
The adoption of Supply Chain Suites is expected to increase by 25% in the next five years.
Small and medium-sized businesses are the fastest adopters of Supply Chain Suites, with 60% of these businesses already using the technology.
Supply Chain Suites are most commonly used in the retail, manufacturing, and logistics industries.
90% of businesses that adopt Supply Chain Suites report improved supply chain operations.
Benefits of Supply Chain Suites for Small and Medium-Sized Businesses
Improved visibility into supply chain operations
Streamlined processes and increased efficiency
Improved decision-making through data and analytics
Reduced operational costs
Increased competitiveness in the market
Challenges of Implementing Supply Chain Suites
Integration with existing systems and processes can be a challenge for some businesses.
A lack of technical expertise can make the implementation of Supply Chain Suites difficult for some businesses.
Ensuring data accuracy and completeness is a key challenge for businesses implementing Supply Chain Suites.
The cost of implementing Supply Chain Suites can be a barrier for some businesses, especially small and medium-sized businesses.
Resistance to change can also be a challenge for businesses looking to adopt Supply Chain Suites.
Overcoming the Challenges of Implementing Supply Chain Suites
Working with a reputable vendor or consultant to ensure smooth implementation and integration with existing systems.
Building an implementation team with the technical expertise needed to ensure successful implementation.
Investing in data quality and management processes to ensure accuracy and completeness of data.
Developing a clear business case and cost-benefit analysis to justify the investment in Supply Chain Suites.
Building a culture of change and continuous improvement to overcome resistance to change and ensure long-term success with Supply Chain Suites.
Conclusion Supply Chain Suites are essential tools for businesses looking to improve their operations and increase efficiency. With the right implementation and use of the technology, businesses can achieve significant benefits and improvements in their supply chain operations.