Worldwide supply chain management software revenues will reach $2.5bn (£1.3bn) in manufacturing industry alone by 2010, according to a new study by industry analyst Datamonitor.
Last year, revenues in the sector reached $1.6bn. Datamonitor said the growth would be driven by both SME and larger manufacturers as they looked either to replace legacy systems or to implement a supply chain management system from scratch.
A Datamonitor study found that manufacturers were turning increasingly to supply chain management technology in a bid to deal with the growing complexity of the market.
Adam Jura, manufacturing technology analyst at Datamonitor, said, “Manufacturers are finding that their supply chains are becoming increasingly complex, and are having a greater impact on their overall business.
“Gone are the days of comparing two manufacturing companies. Now, it’s a case of two supply chains, and as such, the capabilities of modern SCM suites to streamline processes associated with both partners and customers are driving significant investment.”
The study, co-authored by Jura, found that vendors were now offering supply chain management products that met the needs of smaller manufacturers, adding to its growing adoption.
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