London, 22 July 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Warehouse Management Systems (WMS) Market, which is expected to grow at a CAGR of 16.70 percent during the forecast period of 2014-2018.
A WMS allows optimized management and storage of products and items in a warehouse. It is an important part of supply chain management (SCM) in enterprises.
These systems regulate inbound and outbound logistics, warehousing from raw material suppliers to manufacturing sites, and finished goods to other places or end-customers. It helps in the reduction of inventory expenses by upgrading inventory accuracy and thus improving workflow arrangement and use of space.
Key Market Drivers
- Need to Reduce Extra Costs Related to Manufacturing Processes
- Need to Simplify Supply Chain Network
- Demand for WMS from the APAC Region
- Need to Reduce Lead Time and Accelerate Product Delivery Process
Key Market Trends
- Emergence of Software as a Software (SaaS)-based On-demand WMS
- Increase in Use of Cloud Computing and Radio Frequency Identification (RFID )Technology
- Consolidation in WMS Industry
- Growing Demand for Service-oriented Architecture (SOA) Technology
“There are several factors driving the Global WMS Market. One of the key factors is the need for companies to reduce the costs related to the manufacturing process. By implementing a suitable WMS, companies can improve customer satisfaction and reduce production, labor, inventory storage, and handling costs,” says Faisal Ghaus, Vice President of TechNavio.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
