The value of the Cloud Supply Chain Management (SCM) market is projected to reach $11bn by 2023, according to new figures.
Surging adoption in transportation management has been one of the major drivers for the cloud SCM market, research published by P&S Market Research found.
The systems that support them are advancing and improving at a rapid pace
During the course of the analysis, P&S found that demand planning and forecasting is projected to witness the highest growth, with 20.3% CAGR during the forecast period, among all solutions in the cloud SCM market.
In a statement, P&S said: “Demand management solutions takes supply chain management to the next level by enabling an automated ecosystem that simultaneously maps demand forecasting against factors like financial predictions, supply restrictions, inventory counts and customer commitments, as well as patterns of behaviour that can affect demand at any given time.