According to an estimate, approximately 85% of SCM managers are facing the challenge of inefficient SC tools. The term supply chain is very wide and comprehensive and it comprises various niche areas. There are various types of niche-focused supply chain software that help SC managers to optimize their processes. Today, we’ll discuss the top 12 types of supply chain software.
Types of Supply Chain Software – Top 12
Some of the main types of supply chain software are as follows;
Procurement & Sourcing Software
Comprehending and analyzing your supply chain is the key element of managing your supply chain. It allows you to observe what type of material you are buying. However, it automates a great number of purchasing and purchasing processes in order to decrease errors and mistakes that amplify spending.
- Analyze supplier bids
- Managing the spending limit of your purchasing team
- Controlling approvals
- Offers performance analysis tools
Customer & Supplier Management Software
It is a great tool for SC managers and operators. It comprises a CRM platform that focuses on all the supplier and customer-relevant information. Some of the key features of customer and supplier management tools are as follows;
- Automating communication process
- Run analytics to know how various customers impact your business
- Tracking all interactions with customers, suppliers, and clients
- Know the revenue contribution of your suppliers and clients
Warehouse Management Software
It helps you to manage and deal with various daily routine functions of the warehouse. The warehouse management tool has the capability to integrate with your on-premise system like ERP and helps you in the following ways;
- Kitting and bundling
- Cycle counting
- Route planning
- Product tracking
- Order Receiving
Shipping Optimization Software
Big companies have got a large network of supply chains and it is difficult for them to track all the shipments. If your business is shipping various products to different locations across the world, then it amplifies the growth potential along with the risk of human error. However, some of the key features of shipping tools are as follows;
- Offers you real-time updates
- Making important data visible
- Well-optimized for mobile use
- Meeting the needs of your distribution network
Inventory Management Software
The inventory management tool allows you to optimize the warehousing space and streamline production processes. It saves your cost by increasing the efficiency of various processes. While analyzing this solution, it is significant to comprehend your existing and potential supply chain demand. You should keep in mind the following capabilities while choosing the inventory management tool;
- Simulation and scheduling
- Material planning
- Future forecasting
Order Processing Software
Customer loyalty and satisfaction level are highly dependent on the company’s quickness and capability of processing orders. The efficiency of order processing plays a role in making sure that various functions are performing smoothly. The order processing tool automates the following functions;
- Billing
- Order management
- Order fulfillment
- Sales order processing
Some of the key benefits of quick order fulfillment are as follows;
- Better management return
- Highly visible
- Automated invoice creation
- Limited order entry errors
Security Software
Data privacy and security breach could jeopardize the business of large organizations. That’s why it is significant for SCM tools to have security. However, when it comes to the security of the system, then it helps partners to achieve a certain level of security.
Collaboration Software
The SC business won’t work efficiently if there is no collaboration tool to facilitate various units and stakeholders. When you have got so many stakeholders in your SC network, then it is significant to communicate and collaborate with all of them. The collaboration tool helps you in the following ways;
- Focus on solid tasks and activities
- Establish new contracts
- Resolve order and bottleneck issues
Logistic Software
Various SCM tools have got tracking and communication features, which help them to deal with logistics issues and avoid delays. The ineffective communication channel slows things down. In order to improve the effectiveness of SC software, businesses and companies have invested a lot of resources in them. The logistics would help you in the following ways;
- Supporting and facilitating sustainability projects
- Tracking the company’s carbon footprint
Demand Forecasting Software
As the name implies, the objective of the demand forecasting tool is to predict demand for labor planning and inventory management. It is a tool that has the capability to integrate with the SCM tool or any other system of the company. However, modern forecasting tools employ algorithms, machine learning, and AI to make accurate predictions. Along with employing historical data, they also employ market information.
Scheduling Software
Scheduling tool has the capability to automate various processes like communication efforts, time tracking, employee scheduling, and much more. It decreases scheduling issues, improves employee satisfaction, and avoids payroll-related issues. However, some of the key features of the scheduling tool are as follows;
- Optimum scheduling recommendations
- Quick messaging
- Shift swap, holidays, availability, and leave management
- Automatic clock in and out a timesheet
- Schedule creation and management
Business Intelligence Software
It is a type of SCM tool that offers timely and in-depth business insight. It doesn’t matter what type of business you are operating in any industry; data analytics is highly significant for the growth, profitability, and revenue of your company. However, business intelligence helps businesses in the following ways;
- Recognizing the source of delays
- Successfully launching marketing and sale campaign
- Analyzing overall performance
Conclusion: Types of Supply Chain Software – Top 12
After an in-depth study of the top 12 types of supply chain software; we have realized that SCM tools are significant for the growth and success of your SC processes. If you are learning about the types of SCM tools, then you should keep in mind the abovementioned list.
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