Choosing the Right SCM Software for Your Business: A Comprehensive Guide
SCM software is one of the most important pieces of technology an organization can have. It streamlines processes, optimizes performance, and creates more visibility throughout the company. According to a recent research report by MarketsandMarkets, the SCM market is expected to reach $10 billion by 2021, growing at a 19% CAGR during the forecast period.
But with so many software solutions available, it can be difficult to determine which one is best for your business. This blog post will introduce you to some available SCM solutions, as well as highlight important factors to consider when choosing one that’s right for you.
Why companies use supply chain management software
Today’s market is highly competitive with dynamic and disrupted supply chains. In order to stay ahead of the game and remain profitable, businesses need to streamline their supply chain processes. That’s why supply chain management software is becoming increasingly important for businesses.
SCM software enables companies to reduce costs, increase efficiency, and cut delivery times by optimizing their supply chains. To select the right SCM solution for your business, you need to understand the various pros and cons of available options on the market.
Supply chain management (SCM) is the process of planning, controlling, and optimizing the flow of material, information, and services through a business network. SCM software can be used for a variety of purposes, such as tracking inventory, calculating supply costs, and managing the flow of products from the supplier to the end-user.
In the B2B world, SCM software can be used to improve the efficiency and profitability of a business by facilitating communication between suppliers and customers. It can also be used to coordinate production processes across multiple locations. SCM software is especially useful in situations where there are complex supply chains with many different suppliers and destinations.
There are many types of SCM software available today. Some are designed to help businesses manage their supply chains from start to finish. Others are tailored for specific industries or companies within a supply chain network. Some are cloud-based solutions that can be accessed from anywhere at any time.
In addition to helping manage a company’s supply chain, SCM software can also help ensure that goods reach their destination in good condition. This is especially important in situations where sensitive products are involved.
Supply chain management software in the B2B world
Supply chain management (SCM) is the process of planning, controlling, and optimizing the flow of material, information, and services through a business network. SCM software can be used for a variety of purposes, such as tracking inventory, calculating supply costs, and managing the flow of products from the supplier to the end-user.
In the B2B world, SCM software can be used to improve the efficiency and profitability of a business by facilitating communication between suppliers and customers. It can also be used to coordinate production processes across multiple locations. SCM software is especially useful in situations where there are complex supply chains with many different suppliers and destinations.
There are many types of SCM software available today. Some are designed to help businesses manage their supply chains from start to finish. Others are tailored for specific industries or companies within a supply chain network. Some are cloud-based solutions that can be accessed from anywhere at any time.
In addition to helping manage a company’s supply chain, SCM software can also help ensure that goods reach their destination in good condition. This is especially important in situations where sensitive products are involved.
How to Select the Right Supply Chain Management Software
The first step towards selecting the right SCM software for your business is to clearly define your requirements. Before you do so, you need to identify your supply chain process and the problems that you are looking to solve.
Once you know what your business needs, you can then look for the best software solution to address those needs. You need to evaluate each SCM solution based on its functionality and ability to solve your specific business challenges.
You also need to consider each solution’s potential ROI and total cost of ownership. When selecting the right SCM software for your business, you need to take into account the following parameters:
Ease of implementation – How easy is it to integrate the software into your existing business processes?
Ease of use – How easy is it to manage the software and perform daily operations?
Functionality – Does the solution offer functionality that matches your supply chain needs?
Security – How secure is the solution against cyber threats?
Support – How responsive is the support team and what is the average resolution time?
Scalability – Can the solution be easily expanded as your business grows?
Cost – What is the total cost of ownership of each solution?
ROI – What is the return on investment of each solution?
Different Types of Supply Chain Management Software
SCM software enables businesses to optimize their supply chains. It enables them to forecast demand, manage inventory, and track products from production to delivery. There are different types of solutions that can fit different business needs.
They all have their own advantages and disadvantages, which is why you need to evaluate them based on your specific requirements. Let’s look at some of the most popular supply chain management software solutions on the market today:
Inventory management software – This type of software is used to track in-house inventory. It can also be used to track orders and manage customer stock. Inventory management software is beneficial for B2C businesses, wholesalers, and retailers.
Warehouse management software – Warehouse management software helps businesses track orders in transit and manage inventory in warehouses. It is often used in conjunction with inventory management software. Warehouse management solutions are beneficial for retailers, wholesalers, and logistics companies.
Procurement management software – Procurement management software allows businesses to streamline their procurement processes. It is used to track the procurement of raw materials and goods needed for production. Procurement management software is beneficial for B2B businesses.
Production management software – Production management software is used to track production activities and manage supply chain workflows. Production management software is often used in tandem with procurement management solutions to track goods from procurement to production.
Shipping management software – Shipping management software is used to track goods from production to sale. It helps businesses optimize operational and customer service metrics.
Transportation management software – Transportation management software is used by transportation and logistics companies to optimize their operations. It is often used in conjunction with shipping management solutions.
B2B Supply Chain Software
For B2B businesses, it is important to track the movement of goods from the point of origin to the final destination. Visibility is key to managing transportation costs and maintaining a good customer experience. Some of the most popular B2B SCM solutions include Wasp Barcode Shipping and Trade360.
These supply chain management solutions help you manage shipments, track goods, and collaborate with customers. They also enable you to create shipping labels, track deliveries, and maintain accurate records.
With B2B SCM solutions, businesses can create visibility into their supply chains. They can also enforce compliance, track assets, and improve customer logistics experience.
B2C Supply Chain Software
For B2C businesses, visibility into the supply chain is important for compliance purposes. It also helps businesses increase operational efficiency and enhance the customer experience. Some of the most popular B2C SCM solutions include BigCommerce and Magento.
These solutions enable you to manage inventory, track shipments, and collaborate with customers. They also allow you to create shipping labels, track deliveries, and maintain accurate records. With B2C SCM solutions, businesses can create visibility into their supply chains. They can also enforce compliance, track assets, and improve customer logistics experience.
eCommerce Supply Chain Software
If you are planning to launch an eCommerce business, there are a few supply chain management solutions that you can choose from. These solutions enable businesses to track and manage inventory, procure goods, and track shipments from one platform.
They also enable you to create effective marketing campaigns and run profitable marketing experiments. These solutions allow you to track orders from the initial sale to delivery.
They enable you to manage inventory and customer orders from a single platform. With these solutions, you can create and manage product listings, run targeted marketing campaigns, and optimize customer experience.
Conclusion
Implementing SCM software can help businesses forecast demand, manage inventory, and track products from production to delivery. It can also help them create shipping labels, track deliveries, and maintain accurate records.
The right supply chain management software can help boost your business in many ways. It can reduce costs, increase efficiency, and improve customer service. With the help of the right SCM solution, you can optimize your supply chain and stay ahead of the competition.
Kreyon Systems expertise in Supply Chain Management Software with advanced analytics and AI capabilities improves the bottomline for businesses. If you have any queries or need assistance in SCM implementation, please get in touch.