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Research and Markets: Global SRM Software Market to Grow At CAGR Of 7.98 Percent over Period 2011-2015
By: Business Wire
Nov. 16, 2012 11:01 AM
Research and Markets (http://www.researchandmarkets.com/research/8ngzfh/global_supplier) has announced the addition of the "Global Supplier Relationship Management Software Market 2011-2015" report to their offering.
One of the key factors contributing to this market growth is the growing demand for real-time interaction with suppliers. The Global SRM Software market has also been witnessing increasing demand for SaaS-based solutions. However, lack of cross-functional collaboration could pose a challenge to the growth of this market.
Key vendors dominating this market space include Ariba Inc., JDA Software Group Inc., Oracle Corp., and SAP AG.
Other vendors mentioned in the report: Epicor Software Corp., Iasta Inc., Zycus Inc., Computer Sciences Corp. (CSC) CloudSRM, Biznet Solutions Ltd., and Whiztec Software.
Commenting on the report, an analyst from TechNavio's Enterprise Computing team said: ''It is evident that supply chains have become very complex over the last few years. Many suppliers are doing business with customers in different industries across the world. It becomes very difficult to track the performance of suppliers operating worldwide. Supplier performance management (SPM) is the set of processes that enables enterprises to effectively measure the performance and thereby help in improving the performance of suppliers. With the help of SPM applications, the organizations can have better visibility of supplier performance and reduce supply chain-related errors.''
According to the report, the enterprises in the Manufacturing sector introduced the concept of supplier relationship management (SRM), because of the huge losses faced due to inventory-related errors. Currently, manufacturing enterprises are using SRM software for real-time interaction with suppliers and reducing inventory-related errors. It detects the inventory deficiency automatically and sends signals to suppliers in order to address it. Since suppliers are also connected to the system, they can fulfill the order in real-time. Also, in the period of low supplier commitment, the organizations can locate new suppliers and negotiate the best agreements. Therefore, the organizations can interact with suppliers in real-time and can place the order much faster.
For more information visit http://www.researchandmarkets.com/research/8ngzfh/global_supplier
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