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Logistics Order Management Solutions Market Segmented By Type such as Software and Hardware
Logistics executives across various industries are adopting fundamental shifts in the ways they have been working, to contribute towards flattening the coronavirus curve.
Owners of individual businesses in countries of the U.S. have instructed their non-essential employees to work from home. In such dire times, cloud software vendors in the logistics order management solutions market have stepping in to offer free access on products catering to transportation management, last-mile visibility and route optimization to support supply chains of individual businesses.
As many workers are no longer reporting to the office, businesses in the market of logistics order management solutions are creating a demand for cloud-based supply chain software over on-premise platforms that usually operate through the organization’s own servers.
For instance, InMotion Global Inc. - a specialist in transportation management systems (TMS), reported a spike in new subscriptions amidst the COVID-19 outbreak for its cloud-based product AscendTMS. This trend is on a rise in the logistics order management solutions market since fleet carriers, third party logistics providers (3PLs) and brokers amongst others have adopted telecommunication, instead of carrying out operations in office premises.
In events like the COVID-19 pandemic, logistics professionals are seeking a clear understanding of the risks involved to help establish the right action plan for the business. Innovative strategies such as creation of contingency plans and efforts to mitigate supply shocks are increasingly becoming key focus points for business owners.
Thus, companies in the logistics order management solutions market can capitalize on these recent events to increase the availability of intelligent and data-driven solutions to meet end user demands.
There is a growing demand for AI (Artificial Intelligence)-powered supply chain platforms in the market of logistics order management solutions to offer real-time visibility to business owners in case of any disruptions.
For instance, GEP — a provider of unified procurement and supply chain solutions, is creating awareness about GEP NEXXE™ — a data-driven, AI and machine learning (ML) platform that deploys real-time alerts in case of any disruptions caused amidst the Coronavirus era.
Negative ramifications of the Coronavirus crisis are being felt across supply chains in various industries, especially Europe where currently there is a high prevalence of COVID-19 patients. Likewise, contract logistics for warehousing and distribution have been no exceptions.
Hence, companies in the logistics order management solutions market are focusing on establishing transparency throughout supply chains. For instance, Yusen Logistics — a specialist in freight forwarding and transportation, is increasing efforts to identify opportunities amidst the COVID-19 pandemic and offer flexibility in operations to customers as rapidly as possible.
Companies in the Europe logistics order management solutions market are offering to provide a full range of contract logistics operations services, catering to warehousing, cross docking activities and inventory management. They are increasing efforts to redesign vendor inventory management solutions and aiming to offer stock optimization services.
The trend of customized solutions is gaining grounds in the logistics order management solutions market amidst the Coronavirus pandemic.
Companies in the logistics order management solutions market are innovating in out-of-stock replenishment tools to tap into value-grab opportunities. One of its kind sourcing, B2B e-commerce and compliance management solutions company ReposiTrak Inc., announced the launch of their out-of-stock (OOS) management solutions platform meant for retailers to help them collaborate with their suppliers to ensure on-the-shelf inventory.
Companies in the market of logistics order management solutions are diving into data-driven solutions such as cloud-based OOS management solutions and are taking cues from point-of-sale (POS) data to innovate in new management tools.
Software-as-a-Service (SaaS) is another trend that is gauging strong business grounds in the logistics order management solutions market. The act of store-shelf management and replenishment are gaining prominence in the global landscape to reduce incidence of out-of-stock situations. Companies in the logistics order management solutions market are putting their proprietary algorithms into use to analyze the POS data.
The trucking and logistics industry is subject to delays and unpredictability of goods and other products. Hence, companies in the logistics order management solutions market are delivering new technologies to overcome these challenges.
They are increasing the availability of technology-led tracking systems in order to predict when a parcel is expected to be delivered. Companies in the market of logistics order management solutions are tapping incremental opportunities in India, which is one of the leading economies in Asia Pacific and a significant percentage of India’s goods travel by road.
Blue Dart — an Indian logistics company providing courier delivery services, is one of the pioneers to introduce GPS (Global Positioning System)-enabled trucks for longer routes in India. GPS-enabled trucks are being highly publicized for improving overall efficiency of fleets, resulting in timely delivery of shipments.
Dynamic route management and integration of e-wallets for cash-on-delivery operations are gaining prominence in the logistics order management solutions market. Smart solutions such as automatic sorting and routing facility in warehouses are becoming increasingly commonplace in the logistics order management solutions market.
These new operational techniques are eliminating the need for manual labor by the courier delivery staff.
Companies in the market of logistics order management solutions are innovating in automatic systems that sort packages and provide the most effective route schedules to enhance customer experience. Automated solutions are gaining popularity for their time-efficient practices, thus leaving enough time buffer for employees and workers to be out on the field.
Technological transformations are increasing connectivity between a fragmented logistics services sector, resulting in enhanced visibility and accountability across supply chain stakeholders.
By End-use Industry
Logistics order management solutions are highly demanded in the market for their benefits such as planning, monitoring, and effectively tracking the organization workflows. Moreover, these services are known to reduce the overall functioning cost, assisting organizations in better management.
Heightening demand for control setup for activities such as monitoring and enhancing the workflow efficacy is prompting the adoption of these logistics solutions. The global market can be segmented into hardware and software where software is advancing at a fast pace with the integration of technologies such as the cloud.
Different verticals that use these logistics solutions include retail, BFSI, consumer goods, telecommunication, IT, healthcare, and manufacturing.
The market in North America is matured as compared to other regions on the back of high technological advancements. Owing to the booming markets in the US and Canada, many stakeholders are placing stakes in the region. Led by emerging economies such as India and China, the Asia Pacific market is projected to grow at a rapid pace. Cheap labor and abundance of new start-ups are a few of the factors driving growth in the market.
Established players profiled in the global logistics order management solution are Deseartes System Group, GTNexus, Oracle, Dassault Systems, IBM, Basware, Manhattan Association, and JAGGAER.