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List of Best Supply Chain Management Software for Your Business

Finding the best Supply Chain Management Software for your business is now faster and easier! Compare prices, reviews, features, and get free consultation to find the perfect software.

Table of Contents

What is meant by supply chain management?

Supply chain management (SCM) is a concept that helps organizations meet customer demand in a highly productive and cost-effective manner. In theory, its fairly easy the deliberate movement of materials and production parts from the manufacturing plant to the warehouse, storage areas, distributors and finally to the customer. This complex sequence is only one possible variant amongst many possible supply chain solutions structures, each of which brings its own novel challenges.

So to understand simply, supply chain logistics management SCM) is the holistic management of the movement of goods and services, including the flow and storage of raw materials, of work-in-process stock items, and of finished products from the point of origin to the point of consumption. Companies all over the world are now investing in supply chain management software to keep their organization on the track of efficiency and proficiency. An SCM solution is truly the best way to transform your operational success and enhance your organizations bottom line in a positive manner.

What is meant by supply chain management software?

The market today is flooded with a number of variants of supply chain logistics solutions they provide a cost-effective and dynamic platform for organizations to manage their entire supply chain activities. Every organization wants a top class SCM system solution to help them accrue maximum benefits and streamline their entire supply chain logistics from top to bottom. It is truly a revolutionary product that can completely makeover your logistics, transportation and quality procedures.

A supply chain management software has a wide range of applications in almost any major product-focused industry, such as the logistics sector, manufacturing industry, automobile and retail sector, healthcare and pharmaceuticals, and many others. Products managed by SCM solutionscan include a variety of finished goods, partially-finished product, or raw materials used in production processes.

There are a number of options available in the market for SCM software buyers:

  • Best-of-breed SCM system programs which provide specific functionality for local aspects of SCM, such as inventory management, freight brokerage, or procurement procedures, but these usually do not function as a company-wide solution.
  • Integrated SCM suites that support the complete end-to-end management of supply chain practices, right from demand planning to raw materials sourcing, procurement, transportation processes, and delivery models. SCM suites can be bought as an all-in-one SCM solution or as required in discrete modules.
  • Enterprise resource planning software (ERP) systems often offer built-in supply chain management software modules and offer the additional advantage of synchronizing business procedures in one system. This can include a diverse range of processes such as supply chain logistics management, customer relationship management, human resources, market intelligence, accounting (accounting software), and many more.

What are the common features of the supply chain management software available in the market?

A supply chain planning software is an asset for any organization as it helps them streamline all business operations in a highly effective manner. There are hundreds of SCM solutions available for organizations in the market today, and it can be a difficult decision to choose the best one for your company. It is important to know which will meet your precise industry and business goals, before going in for a calculated decision.

Here are some important features of supply chain management software services that you should look out before investing in one:

  • Inventory Management: Managing inventory in a well-organized and timely manner is the cornerstone of any successful business! One of the best features about a supply chain management system is inventory optimization and it has the capability to keep the right amount of items stocked in the appropriate locations (warehouses, distribution centers, storage areas)through a well-oiled supply network to minimize overhead cost to the company. Supply chain management companies require state-of-the-art technology that allows them to track inventory through barcodes, stock serial numbers, or even RFID (radio frequency identification) tags SCM software can handle all this and more, thereby providing the perfect solution to your inventory requirements.
  • Warehousing Requirements: Storage of goods-in-progress and finished items in a safe and efficient way is absolutely essential for a sequential supply chain solutions. Warehouse management system software is the perfect solution to monitor products and materials within a company warehouse or distribution center, and can also track other operations such as stock picking, shelving, shipping and receiving.
  • Demand Forecasting: This is a super useful feature to look out for in supply chain management software. SCM solutions can create accurate algorithms based on previous sales history and customer variables to enable organizations to anticipate fluctuations in supply and demand. When your organizations projected demand matches inventory levels, it averts over or under-stocking which leads to more wastage, lost sales, or in the worst possible case, lost customers for your business.
  • Supplier Management:A supply chain management software is the best way to streamline your relationship with suppliers and make sure they are in collaboration with organizational processes. Supplier management modules allow companies to monitor and curate their associations with suppliers. Basically, SCM system gives the main sourcing organization better visibility into supplier assets so as to maximize end value on both sides of the spectrum. It includes specific features such as performancemanagement and compliance monitoring, risk assessment, supplier segmentation, and other capabilities.

So, make sure that your supply chain management software has these critical features so that your organization can gain massive competitive advantages such as cost-effectiveness, efficiency and high productivity!

What are the various market trends to be aware of before investing in SCM software?

Supply chain management software is a dynamic field, and every few years, the market is flooded with new trends in the field. Its important to have a clear idea about these supply chain logtistics trends as they can give a more comprehensive picture of supply chain management software to the top leadership.

Here are some important SCM trends that managers need to be aware about before investing in an SCM solution for their organization:

  • Corporate Social Responsibility: Corporate social responsibility is a buzzing trend that is surely being followed by all responsible organizations these days! High competition and an extremely conscientious consumer base have caused many businesses to adopt higher social and environmental principles to govern their supply chain management software.Corporate social responsibility requires great visibility into supplier practices across the entire supply chain. Many SCM software solutions now include regulatory compliance procedures into their supplier management module- thereby making sure companies have their CSR policy in place.

  • E-Commerce Supply Chains: E-Commerce supply chains are the future of supply chain management! They have become a vital piece of the retail economy in recent times. Some stores have discontinued the brick-and-mortar model completely and instead started selling through online storefronts. Here vendors basically function as distributors, which mean they need effectual solutions for demand planning, inventory management, and order fulfillment, rather than the usual point-of-sale software (POS). Many SCM solutions have integrated modules for E-commerce models making sure that your business model runs smoothly!
  • On-Demand SCM Software: Supply chain management software has seen lesser levels of software-as-a-service acceptance than other functional verticals such as customer relationship managementorhuman resource management. This is due to the complexity and dispersal of the SCM industry itself, along with the numerous middle-market suppliers and distributors who are using web-based applications. There are not many organizations that invest in SCM solutions with a formal IT infrastructure. International vendors SAP and Oracle have played a large role in groundbreaking cloud-based SCM software, and have provided on-demand SCM solutions thereby changing the SCM system market positively.

What are the major advantages that your organization can accrue through an SCM software?

Any business organization can benefit from a number of key advantages by adopting a supply chain management software. Here are some key benefits that your company can get thorough SCM software:

  • Improved workflow procedures by having a better visibility throughout the length and breadth of the supply chain solutions.
  • Minimized delays as all activities can be effortlessly coordinated and implemented from start to finish, ensuring much greater levels of on-time delivery across the board.
  • Higher output levels and productivity through better communication, collaboration, and synchronization with vendors, transportation and shipping partners.
  • A higher level of quality assurance for the end consumer due to more standardized supply chain logistics procedures.
  • Instantaneous and unconstrained communication, along with seamless data-sharing that enables all key stakeholders to remain informed, so that supply chain management software procedures can run as efficiently as possible.
  • Minimization of inventory holding costs, while providing high levels of flexibility to meet consumer demand.
  • SCM software systems help mitigate risks related to purchasing raw materials and delivering finished products or services

Supply Chain Management Software(SCM systems) can offer incredible value to any organization that relies on the streamlined planning and execution of business operations to realize long-term profitability and upholds a solid competitive edge in the market. Make sure to take a calculated decision and get the best supply chain management software system for your company. It will surely transform your success story and escalate your organizations profit levels to an all-time high!

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Frequently Asked Questions (FAQs)

  • There is no such thing as the best supply chain management software. However, an SCM software that is customizable and captures data on a granular level is an ideal one.

  • The four types of supply chains are-

    1. Integrated Make-to-Stock Model

    2. Build-To-Order Model

    3. Continuous Replenishment Model

    4. Channel Assembly Model
  • Supply chain systems refer to organizations, people, activities, information, and resources involved in supplying a product or service to a consumer.

  • The 5 basic steps of supply chain management are-

    1. Plan the activities

    2. Source the raw materials

    3. Make and test the products

    4. Deliver products to the customers

    5. Manage the return of defective products

  • There are three different types of flow in supply chain management-

    Material flow

    Information/Data flow

    Money flow

Supply Chain Management software in following industries

Rinkesh AnandaniBy Rinkesh Anandani | Last Updated: October 20, 2020

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