Global Supply Chain Risk Management Market is valued at USD 1665.88 Million in 2020 and is expected to reach USD 3111.51 Million by 2026 with the CAGR of 11.01 % over the forecast period.
Scope of the Report
A supply chain comprises of all the activities and entities that are involved in extracting, processing, and manufacturing, distributing and selling the products to the ultimate customers. However, the concept of Supply chain management (SCM) is much broader than that of the marketing channels as SCM goes back to a distant starting point and take in the raw material suppliers.
SCM has come to focus on the need to look widely at the flow of value delivery to a customer. Value is carried through the defined business activity of the organization in the form of goods and services. Apart from the value flow, there are two associated flows in a supply chain information flow and cash flow.
This report analyses the Global Market for Supply Chain Risk Management. The report will enable the user to understand and gain insights into the current and forecast market situation. The market is comprehensively analyzed by geography to give complete information on the global scenario. The qualitative and quantitative data provided in this study can help user understand which market segments, regions are expected to grow at higher rates, factors affecting the market and key opportunity areas. The report also includes competitive landscape of key players in the industry along with emerging trends in the market.
3.CURA Software Solution
Above mentioned companies were scrutinized to assess competitive landscape of Global Supply Chain Risk Management Market. Report provides company profiles of each player. Each profile include company product portfolio,business overview, company governance, company financials, business strategies, manufacturing locations and production facilities, company sale, recent developments and strategic collaborations & partnerships, new product launch, company segments, application diversification and company strength and weakness analysis.
Impact of COVID-19 on Global Supply Chain Risk Management Market
Developments in information and communications technology are creating advancement to the supply chain more promising. Technologies for example IoT, cloud computing, 5G, AI, 3D printing, and robotics are all critical to empowering the digital supply network of the future. Altogether, an unpredictable business environment is making it all the more indispensable. Whether it’s a black swan type event like COVID-19, a trade war, an act of war or terrorism, regulatory change, labor dispute, a spike in demand for a particular product in a specific region, or supplier bankruptcy, companies are learning to count on the unexpected.
The particulars of how to implement a digital supply network will differ from industry sector to sector and even company to company. Though, the digital supply network must not only be aligned with business strategy after it is set, but be integral to its formulation. And, risk management will be an integral element of that design, as risk management and business continuity is also an integral element of overall business strategy. From a risk management perception, the vital will be to build a robust supply chain that not only seeks to reduce risks but also is prepared to quickly adjust and recover from any unexpected supply chain disturbances that happen.
Trade wars, global politics and national policies
COVID-19 has disrupted the global supply chain and accelerated the US-China tensions. As companies move to other countries, china lost global export market share at an enhanced speed in 2019. Mexico and Vietnam became the hub for the low-cost production. Both countries have shown whopping growth of 12% and 9?ross the consumer goods and technology, media, and telecoms (TMT) sectors.
It is difficult to have a substitute for China, as it accounts for 60% of global consumer goods exports and 41% of global TMT exports. Investment in supply chain outside the china has boosted manufacturing capabilities well as provide attractive offerings for land, labor and logistics. Together, continual efforts to achieve free trade agreements (FTAs) could further impact where and how businesses seek to restructure their supply chains.
Manufacturing nowadays is a far intricate process, compared with just a few decades ago, with subcomponents essential to assemble a single final product sourced from several places across the globe. The raw materials necessary to manufacture these subcomponents could also come from diverse countries and continents, and the finished/semi-finished goods may then need to be transported all over the world. This enormous reliance upon logistics makes import, manufacturing and export a challenging proposition in case of disorder to the supply chains. Consider a relevant example in the current situation: Most countries are highly dependent on
China for active pharmaceutical ingredients (APIs). As countries are selectively restricting API import and the logistics challenges created by COVID-19, countries pharmaceutical industries are going to find it difficult to maintain their export numbers. This could lead global shortage because of the major pharmaceutical companies are not able meet the production capacity due to supply chain disruption.
Sourcing becomes the major challenge which is prime step for the manufacturing industries.
The economically viable sourcing to meet the production cost at lowest- caused the consolidation of raw material production in low cost areas- majorly based in China, Taiwan, Vietnam or other low-cost economies. Through the pandemic early emergence in China and hitting countries across the globe, and the subsequent consequence and scarcities, the need for dispensing threat has become more apparent than forever.
Distribution of products is going over some exceptional challenges like recruitment of warehouses, a need for direct distribution and more intelligent and receptive distribution across channels.
Retailing is also been squeezed in an unusual way.
The lockdown circumstances across the world have led to a unique situation where there is demand as far as essentials are concerned, subdued demand in some niche areas, and big challenges in the luxury items segment, and we are likely to see several retailers down their shutters while many others will be severely tested on functioning margins and models.
On the consumer side, hoarding/stocking of essential commodities and over-the-counter medicines has led to unusual stress on the supply chains. It is not unusual for consumers to panic stock food and other essential commodities during times of crisis. While this leads to stress if the stockpiling goes beyond a few weeks, it is natural for consumers to be anxious about availability and resort to this kind of behavior. This unusual spike in demand and the required supply fluctuations are extremely difficult to handle and together create a bullwhip effect in the complete supply chain often leading to reproduction deficiencies.
Review Period: (2015-2027)
Historic Period: 2015 to 2020
Forecast Period: 2021 to 2027
Base Year: 2020
Unit: USD Million
This Supply Chain Risk Management Market report provides insights on new trade regulations, market size, regional and segment market share, product/service launches, product pipeline analysis, impact of Covid-19 on, key regions, untapped markets, patent analysis, approvals, continuous innovations and developments in the market.
•North America: U.S., Canada and Rest of North America
•Europe: UK, France, Germany, Italy, Spain and Rest of Europe
•Asia Pacific: China, Japan, India, Australia, Southeast Asia and Rest of Asia Pacific
•Latin America: Brazil, Mexico, Argentina and Rest of Latin America
•Middle East and Africa: Gulf Countries, Israel, Africa and Rest of Middle East and Africa
•Supplier Risk Management Solutions
•Sustainable Procurement Solutions
•Logistic Management Solutions
•Vendor Information Management
•Quality Assurance Management.
On the basis of type of Global Supply Chain Risk Management Market is divided into solution and Service. Solutions segment dominated the Type segment and was worth of USD 809.30 Million in 2019 and it is expected to reach USD 1683.81 Million in 2026.
Solutions segment is further bifucated into Supplier Risk Management Solutions, Sustainable Procurement Solutions and Logistic Management Solutions. Service segment is further divided into Compliance Management, Vendor Information Management, Quality Assurance Management, Contract Management, Financial Control and Audit Management. Compliance Management segment dominated the service segment generating USD 225.40 Million in 2020.
Based on the sectors segment market is divided into O&G, Utilities, Construction and Others. O&G segment dominated the sectors segment and was worth of USD 3902.36 Million in 2019 and it is expected to reach USD 8279.76 Million in 2026.
North America accounted 42.32% market share in the year 2018. The region dominates the global market US being one of the major markets generating revenue USD 497.91 Million in the year 2020. Supply Chain Risk Management Market is valued at USD 1665.88 Million in 2020 and is expected to reach USD 3111.51 Million by 2026 with the CAGR of 11.01 % over the forecast period.
•An overview of the Global Supply Chain Risk Management Market
•In depth analysis of market dynamics and major factors such as drivers, restraints, opportunities and trends influencing the global market
•Global Supply Chain Risk Management Market revenue data historic and forecast analysis (2015 to 2027)
•Characterization and quantification of the market segments for Supply Chain Risk Management market
•Market share analysis of key market participants and their competitive landscape
Important Questions Answered By Global Supply Chain Risk Management Market Report
•What is the impact of COVID 19 epidemic on the Global Supply Chain Risk Management Market?
•Which is mostly affected region, country?
•Which is the current largest and fastest-growing region?
•What is the market size and growth rate of the Global Supply Chain Risk Management Market?
•What are current factors affecting the growth of market?
•What are Key trends and opportunity areas?
•Within Supply Chain Risk Management Market, which segments are fastest growing & emerging strongly? What are the drivers and restraints for each segment? What are vendor competencies by segment?
•What are the major strategies adopted by leading market companies?
•What are company challenges and essential success factors by market segment?
•How company offerings and supply chain capabilities are shifting to meet emerging market needs?