Best Supply Chain Management Software

Efficiency in the supply chain management process is critical for every business wanting to run without any interruption and, at the same time, ensure sustainability and growth. Starting from the procurement of raw goods to delivering finished products; each process within the organization needs to be optimized and streamlined to maintain better relationships with the suppliers, maximize customer value, control costs, and achieve a competitive advantage.

You may agree that using the best supply chain management software instead of relying on manual processes can help your business achieve goals. While picking the right supply chain management suiting your business needs, you might be in a dilemma and have several questions in your mind. Interestingly, this buyer's guide is here to solve all your queries relating to the supply chain management platform and help you make the purchase decision that can benefit your business organization exponentially.

Before moving on to the in-depth information about SCM solutions, let's have a basic understanding of supply chain management.

Supply chain management is the process that is involved in the flow of goods. SCM process includes all the tasks starting from planning and sourcing the procurement of raw materials to delivering products successfully. Efficiency in the supply chain management process ensures that production, storage, & shipping costs are under control, wastage is minimized, and high-quality products are delivered to the customers. Below-mentioned are the tasks that a systematic supply chain management process includes -

Planning - The businesses need to plan the resources and raw materials required to manufacture products that can fulfill their customers' demands. The costing and quality of the end-products depend on the raw materials chosen and resources hired for the production.

Sourcing - Choosing the right suppliers is important to control production costs and maintain high-quality standards. Other important tasks required to ensure efficiency in the supply chain management process include maintaining relationships with the suppliers, ordering, managing inventory, and authorizing payments.

Production - There are certain activities like testing raw materials before accepting, manufacturing products, testing after production, packing, and scheduling for delivery that need to be streamlined to ensure that the customers receive quality products on time.

Delivery - There are various activities involved in the delivery process, like receiving orders, picking items from the warehouse, shipping orders, invoicing customers, and collecting payments. Flawless delivery of the products would help the company to maintain its reputation and improve customer loyalty.

Returns - Regularly monitoring the entire logistics & supply chain management process is important to ensure compliance with regulations, eliminate low stock issues, deliver products on time, and solve many other problems before they arise. It is necessary to have clear visibility to run the supply chain management process flawlessly.

Monitoring - Regularly monitoring the entire logistics & supply chain management process right from production to delivery is important to ensure compliance with regulations, eliminate low stock issues, deliver products on time, and solve many other problems before they even arise. It is necessary to have clear visibility to run the supply chain management process flawlessly.

Maintaining accuracy, efficiency, and speed is crucial in all the above activities relating to supply chain management. Imagine managing the entire supply chain process with the help of excel spreadsheets or manual registers. Would you be able to have accurate and real-time visibility over your organization's current supply chain situation? Of course not. Moreover, you cannot deny that manual processes are prone to errors and take a long time to complete the tasks.  

Integrating technology into supply chain processes has become a necessity rather than a value-added proposition as it can help overcome the challenges and achieve a competitive advantage.

Technology has transformed the entire supply chain process making it easy for the businesses to communicate, track, and monitor on a real-time basis that helps deliver quick & accurate results. Let's further dive into how technology has fueled planning, implementing, and deploying supply chain management processes that can extend excellent results in terms of business growth and profitability.

Increased Level of Transparency

Technology has transformed the entire supply chain process making it easy for the businesses to communicate, track, and monitor on a real-time basis that helps deliver quick & accurate results. 

Improved Communication

Technology allows teams to communicate with each other, suppliers, and customers on a real-time basis. Improved communication is a sign of wide understanding and smooth processes within the business organization. Production and delivery errors are either nullified or minimized due to automation. Using high-end technology in supply chain management not only enables you to communicate essential information quickly but also make crucial decisions at the right time.

Time Saver

Manually managing the inventory in and out would take more time than importing and exporting a database of information. Similarly, picking & shipping items would be extremely time-consuming without technology-enabled warehouse and transportation systems. Having all the information relating to suppliers, production, warehouse, and delivery on your fingertips allows you to reduce the chances of stock losses and improve the speed in your services.

Accurate Measurement

Managing without measuring is of no use. Technology helps you measure and analyze your execution relating to your supply chain process and provides you the chance to iterate. Without measuring, you never know the obstacles that are stopping you from achieving your business goals. Measuring your efforts, processes, and strategies is one of the most important steps you can take to accelerate your business growth.

Embracing digital transformation has become vital for business organizations to overcome the current and future supply chain challenges. As SCM Systems play an integral role in this digital transformation, it becomes necessary to choose the best and latest to reap maximum benefits. So, here we go with the in-depth information that can help you in doing that.

Supply chain management (SCM) software is a set of tools that are applied to manage all the tasks, from raw materials procurement to delivering the end products to the consumers. It helps maintain supplier relationships and provide quality products to the customers, ultimately benefiting the business in terms of increased sales and profitability. 

The supply chain management platform functionality being extremely broad; it covers planning, executing, controlling, and monitoring the entire supply chain process within a business organization. Some supply chain management tools also facilitate forecasting allowing the business owners, managers, and stakeholders to make informed decisions that benefit the business in the long-run.

Thus, supply chain management software is a valuable tool for businesses that want to implement an agile supply chain process, ensuring seamless quality and cost control that ultimately helps meet consumer demands and achieve predetermined business objectives. The ultimate goals of supply chain management systems are to -

• Minimize Overheads
• Enhance Productivity
• Reduce Risks
• Satisfy Customers

The categorization of supply chain management platforms is based on two factors - deployment, and price. Let’s have a look at each one of them:

A. Deployment

I) On-Premise Supply Chain Management Software

The companies that require better control over the data, and have specific requirements pertaining to their supply chain management, look for on-premise supply chain management software. As the name suggests, on-premise software is hosted on the software owner's server and is managed by their internal or external hired team of developers and technicians. Some of the options chosen by the companies buying on-premise supply chain management software are -

• Companies hire software developers and technicians in-house to develop and manage their supply chain management software. These companies also need to be ready with the technically sound infrastructure to ensure that the on-premise supply chain management software runs as per their requirements. 
• Businesses assign their entire supply chain management software project to a software development company or a freelancer to get their on-premise supply chain management software developed. These companies host the software on their own server to make it work on the computers located on their premises.

The options mentioned above require either paying to the in-house team of software developers or mutually agreed quoted amount to the software development company/freelancer for their services. If you are looking for a free supply chain management software for small business, the below option can suit you -

Free and Open Source Supply Chain Software

In case you opt for free and open source supply chain management software, all you need to do is download and customize it as per your business logic and start using it. But, you need to ensure that you have a technical team that is skilled and knowledgeable enough to tweak and maintain a free and open source supply chain software to get the desired results.

ii) Cloud-Based Supply Chain Software

As per the statistical report, the SCM software market worldwide is forecasted to reach a valuation of over 8.65 billion U.S. dollars in 2023. This shows the popularity and use of cloud-based supply chain management tools. Due to its benefits of anywhere access, 360-degree control, and real-time monitoring, businesses prefer to use cloud-based supply chain management solutions these days. You don't need to own infrastructure or hire a technical team to host and maintain the software. The cloud-based supply chain software companies provide all the services required to make the software run as per your requirements.

B. Price

i) Paid Supply Chain Software

As we have discussed cloud-based supply chain tools above, most of them are based on monthly/yearly/one-time subscription charges. If you opt for on-premise software, you need to invest in your infrastructure and technical team's salaries. In case you are outsourcing your entire supply chain software development project, then the company providing the services would charge you for the services.

ii) Freemium/Free Trial Supply Chain Software

Many supply chain software solutions offer freemium versions allowing you to use the software with limited features or users. There are also free trial supply chain software versions available that you can use for a limited time period to check whether it suits your business needs or not before you purchase it.

iii) Free Supply Chain Software

Free supply chain management software can be cloud-based or on-premise. If investing a huge amount is not in your list right now, you can go for a cloud-based free supply chain management software for small businesses with limited features. In case you need a customized solution, you can go through this list of best free and open source supply chain management software, to select one depending on your infrastructure capacity, team skills, and business model.

Supply chain management, including so many different different types of tasks, gets complex over the period of time, especially when the business grows and expands. Using supply chain management software provides a competitive edge to the business due to the below-mentioned benefits it provides -

Increases Efficiency in Processes

Supply chain management tools allow a business to integrate different facets of an organization like inventory management, logistics, supplier management, etc., keeping different teams on the same page and aligned with each other. For example, having the right information about forecasted demand would enable the purchasing managers to order the right quantities of the product items or raw materials, enabling the business to remain ready before-time for surged sales, deflation in the market, or fluctuations in the economy.

Decreases Wastage and Costs

The supply chain management software allows you to manage your inventory threshold accurately so that you don't place orders for more quantity required to eliminate the issues arising due to the products getting contaminated or wasted. Moreover, it helps you save time and enhance your employees' productivity, which ultimately leads to decreased costs and high returns on investment.

Boosts Collaboration

One thing common that almost all successful businesses have is flawless communication among the managers, employees, manufacturers, dealers, distributors, retailers, suppliers, and all the stakeholders. A supply chain management software benefits the businesses as it allows digital collaboration and knowledge sharing among people dealing with the same transaction or project and keeps them on the same page.

Eliminates Delays

As supply chain management software allows automating order processing and inventory management, including picking, packing, and shipping, it takes less time to deliver the products to the end-users. It also reduces the chances of errors, so no rectification is required, which means saving time and eliminating delays.

Allows Forecasting

A supply chain management tool allows you to forecast future business possibilities based on past and real-time data. This helps you make informed decisions and create successful strategies that can take your business to the next level.

Improves Quality Control

The businesses that can monitor the entire supply chain process intricately are sure to deliver quality products to their customers. Supply chain management software allows you to track and monitor each step from the procurement of raw materials to the delivery of the completed products. Anything going wrong in the process gets notified due to the automated supply chain system in place. Thus critical issues can be addressed to ensure high-quality products are only delivered to the customers.

Enhances Data Visibility

The supply chain management software allows you to view analytical information based on real-time data. That helps in knowing the business's current situation, detecting the problems, and taking prompt corrective steps to solve those problems. It saves the business from incurring financial and reputational losses.

Ensures Better Relationships

Many supply chain management software come with the vendor and customer portals, allowing access to the information about the order processing, payments, shipping, etc. on fingertips. This helps in better understanding with the suppliers and providing an enhanced customer experience.

In the case of supply chain management software, there is no one-size-fits-all. Every business has unique requirements when it comes to managing the supply chain process systematically. Besides your unique business requirements, there are some must-have features that you need to consider before investing in a supply chain management system.

Order Management

Managing orders and billing is the primary concern of any supply chain process. The supply chain management software notifies you as soon as any item goes below the required threshold. At that time, you can create order forms for those items and digitally send them to the suppliers, making the process of purchasing seamless and transparent.

Inventory Management

To keep the business profitable and running smoothly, it is important to manage the inventory accurately. Not having a robust inventory management system in place, can increase the instances of thefts, frauds, wastage, overstocking, or understocking resulting in business failures. The supply chain management providing real-time information about your inventory can streamline your sales process and help your business to grow exponentially.

Warehouse Management

Having clear visibility over the stocked inventory at multiple warehouses is very important to process orders from different locations to ensure orders are delivered in a timely and cost-effective manner. As the warehouse management directly impacts customer experience, using the best supply chain management software with warehouse management features becomes extremely significant.

Shipping and Transportation

The SCM tools that include shipping and transportation features allow you to ensure that the orders are delivered at low cost and in a timely and accurate manner. At the same time, it also allows you to abide by the local Government rules & regulations while transporting shipments from one place to another, keeping the entire supply chain management system streamlined.

Integration

The Supply chain process is strategically broad and is related to various other processes like customer relationship management, accounting, etc. So, it becomes necessary to choose the supply management tool that integrates with other systems you are currently using in your business organization. The supply chain management tool with smart integrations helps you get tasks done from a single interface instead of juggling between different applications and spreadsheets.

Forecasting

The supply chain management tool generating analytical reports based on the past and current real-time facts can help you forecast the customer demands and utilize the resources effectively. This feature can help you eliminate issues like overstocking and understocking, thus reducing costs and optimizing the inventory space in the right manner.

With so many supply chain management software vendors claiming to offer the best, choosing one can become difficult. To ease that task, we have listed some key factors that you need to consider before buying a supply chain management software that perfectly suits your requirements.

Functionality

The foremost factor in any supply chain management software to be considered is its functionality. The functionality of the SCM software you select should align with your business processes and strategies. If most of the tasks need to be done manually just because the software you have chosen doesn’t include the functionality to automate those tasks, then that system would not be worth the investment.

Compatibility

If the supply chain software you have chosen is not compatible with other systems, you are currently using in your business, that would not allow you to implement the working process that can benefit your business. On the contrary, it would take more time than manual processes. That means implementing incompatible supply chain software would do more harm than not implementing any supply chain tool. Just ensure that the supply chain software you choose integrates with the hardware & software, and also can upgrade when required.

User-Friendly

Before buying a supply chain management software, it is highly recommended to figure out its user-friendliness. If the supply chain tool is too complex or requires rigorous training to get used to it, it would be better to look for other options. An ambiguous supply chain software can make your team lose interest in using it, and that would again be an additional investment and a liability to your business.

Flexibility & Agility

Selecting a supply chain software vendor is like choosing a business partner. You need to ensure that the company providing you the supply chain management tool is flexible and agile enough to solve your queries immediately. Implementing a new supply chain management tool can be complex initially. The company that sells you the supply chain software should be able to help you in transiting you to the new system seamlessly.

Price

Last but not least, price becomes an important factor while selecting the right supply chain management tool. You cannot go beyond your budget, but at the same time, you need to ensure the quality of the supply chain software you are planning to buy. A cheap supply chain tool can prove expensive in the long run, as it may not be capable of growing with your business. So, you need to select the supply chain software with a future perspective, as your business and technology both evolve quickly.

As you know, it is not easy to change the supply chain software frequently. So, you need to select the software that is future-ready and equipped with the latest supply chain technology and market trends to help you stay ahead of your competitors. Below-mentioned are some latest trends that impact and enhance the functionality of the supply chain management software.

Artificial Intelligence & Machine Learning

Artificial Intelligence (AI) and Machine Learning (ML) algorithms are being used in supply chain management systems to identify purchasing patterns that can empower the software's forecasting capabilities. These technologies are also applied to improve automation in warehousing and inventory management processes, making it easy for businesses to practice demand forecasting based on the patterns, and sell on multiple marketplaces and target more customers.

Internet of Things (IoT)

IoT devices have increased the standard of supply chain processes these days. You can now effectively track the inventory stored in the warehouses, monitor shipments on a real-time basis, and even keep an eye on the products' storage conditions with the help of IoT devices. The supply chain software solutions that can communicate with IoT devices can help you follow a futuristic approach towards supply chain management processes within your organization.

Chatbots

Whether it is an internal query in an organization, or dealing with the customers and suppliers, including chatbot systems, help minimize human efforts and increase efficiency in solving the problems. Chatbots can not only help in offering solutions but can also be a 24/7 assistant having the ability to handle payments, and ensure accuracy in order fulfillment.

Drones

Currently, drones are playing a significant role in enhancing supply chain processes. Drones can move small items quickly from warehouses to distribution centers, and that has minimized the use of forklifts and conveyor systems operated by humans. The computer-operated drones can accelerate the order fulfillment process and make the entire business technologically advanced.

Big Data Analytics

With the increase in the omnichannel selling trend, the possibility of access to enormous amounts of data has also increased. This data can be utilized to generate business intelligence reports that can provide understanding to past performances helping to predict the future of the business that is almost equivalent to real results. Using Big Data Analytical reports, it becomes easy for companies to determine customer buying patterns and market trends, which ultimately helps them refine their supply chain processes.

Robotics

Many companies are turning towards robotic technology to speed up their monotonous and labor-intensive tasks like counting, sorting, carrying, and fetching products in the warehouse. Selling on multiple marketplaces possibly increases the sales transactions, and buyers are also expecting speed in order fulfillment. Due to these reasons, the use of robotics is increasing in supply chain processes in business organizations.

Supply chain management software price depends on the features and functionality it offers. For example, Order MS is available at $0.07/month, and ChannelApe is available at $200/month. Depending on your budget and features required by your business, you can select one.

Supply chain management solutions like Linbis, SmartCorp, Magaya Cargo, etc., provide you with customized prices based on the features requirement and business model. You can contact the supply chain management software vendor and avail the pricing details after discussing your business needs and methodologies. Many of these supply chain software solutions provide a freemium version or free trial/demo of the entire software for a limited period. This can help you check that the software suits your business requirements or not before you invest a considerable amount.

If your investment budget is limited, you can go for free supply chain management software like FrePPLe, FreightPath, Logix, etc. that are free to use but may include limited features. If these free supply chain solutions are compatible with your infrastructure and business requirements, you get them implemented with a minimum amount of investment.

For more information on the prices of supply chain tools, you can go through this complete list of supply chain systems and make the right choice that fits into your budget.

After investing a considerable amount in SCM software, if no one uses it, that can be either due to selecting an incompetent solution or deploying it in a wrong way. There are certain steps, as mentioned below, that you need to consider to ensure that the supply chain software is being used optimally in your business organization.

Communication

The process that is communicated well is sure to succeed. Ensure that you communicate your decision to deploy the new supply chain software to everyone involved with the supply chain processes well in advance. If possible, include them in the decision-making process from day one, as that would make them feel positive about the changes being implemented. Explain to them the reasons and benefits of deploying the new supply chain software and "what's in for them" to make the transition from old to new systems more natural.

Training

Everything that you don't have experience seems to be difficult initially. The same is with the new supply chain software. If your employees are not trained to use it, they would never be able to adopt it with willingness and enthusiasm. To make the best use of the supply chain software; all your employees must be well aware of its features and know how to use them. It is important to conduct training sessions to make them comfortable with the new supply chain software you are introducing in your business organization.

Stress-Free Environment

People involved with supply chain processes are stressed with the manufacturing & delivery deadlines, as this field demands accuracy with speed. In that case, the team members get involved with completing their tasks, and utilizing the time to learn new supply chain software takes a back seat. Due to this scenario, in many companies, the employees follow old traditional methods instead of adopting innovative methods to get things done. You need to make sure that you create a stress-free environment for your employees to learn and implement the supply chain software in the best possible manner.

The below-mentioned reasons prove that referring to GoodFirms' list of best supply chain solutions would be a smart decision.

• After a thorough review and intricate procedures, GoodFirms lists only those software and applications that follow the latest technological trends.
• The list of best supply chain management software provided by GoodFirms includes authentic and legit reviews that can guide you to make purchasing decisions easier.
• GoodFirms is perceived to be one of the most reputed sources of fresh information as it continues to grow its software listing categories and customer reviews regularly.

Having a seamless supply chain process is the need of every ambitious business these days. Moreover, market trends and consumer behavior consistently evolves. To cope with these progressive changes; businesses require robust technology that helps in staying ahead of the competition and setting a benchmark in their respective industries.

We hope that this buyer's guide to supply chain management has been a great source of information and has helped you decide the tools or applications that would help you optimize your supply chain process in the best possible manner. In case of additional queries or assistance, just get in touch with our support team.