Retail Inventory Management Software Market Research Report by Forecast to 2023

Posted February 8, 2021 by son1ane

Global Retail Inventory Management Software Market Research Report by Deployment (On-Demand, On-Premise), End-User (Traditional Retailers, Off-Price Retailers)
Retail Inventory Management Software Market Synopsis:
The expeditious advancement in technology is leading the global retail industry towards digitization. The retail inventory management software is one such platform that bears real-time inventory data with the help of the tools that are used to track, manage and organize the material flow, keeping record of the entire supply chain process. Market Research Future (MRFR) has recently published a report projecting an impressive CAGR for the global retail inventory management software market during 2017 to 2023.
The Retail Inventory Management Software Market aids in the centralization of the inventory data from different locations using various methodologies such as stock review, just in time technology, ABC analysis and many others to manage the flow of goods till they are delivered to the end users. The cloud-based data storage solution used in retail inventory management helps in maximizing the efficiency in the management of the supply chain causing reduction of loss due to mismanaged inventories. The software even helps the enterprises in negotiating better deals and gaining feedbacks as it assists in observation of margin contribution and execution performance of each vendor. This software provides the retailers with add-on advantages by availing advanced logistics management, smart supplier management, data-driven inventory optimization and many other features.
The global retail inventory management software market is primarily driven by the need for maintaining transparency across supply chain activities and easy tracking of warehouse inventory. In addition, increased usage of RFID tags, barcode scanners, mobile devices and other wireless technologies is also reflecting favorably on the market.

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Competitive Dashboard:
The important participants of the retail inventory management software market profiled in this MRFR report are Epicor Software Corporation (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Netsuite (U.S.), JDA Software (U.S.), Fishbowl (U.S.), IBM Corporation (U.S.), Totvs S.A (Brazil), inFlow Inventory Software (Canada), Retalix Ltd (Israel), and Quintiq (Netherlands).

Other key players participating in the competitive landscape are Sage Group plc (U.K), Lawson Software (U.S.), Accellos (U.S.), Servigistics (U.S.), Aldata Software Management Inc (Canada), BluJay Solutions. (U.S.), Kewill Systems (U.S.), Manhattan Associates (U.S.), and GTNexus (U.S.),

Market Segmentation:
• On the basis of deployment, the global retail inventory management software market has been segmented into on-demand and on-premise.
• On the basis of end-user, the retail inventory management software market has been segmented into traditional retailers and off-price retailers.

Regional Analysis:
The global retail inventory management software market, by region, has been segmented into four regions- North America, Europe, Asia Pacific, and the Rest of the world (RoW). Among these, North America holds the maximum share of the market owing to its technical brilliance. The region experiences a competitive advantage due to the presence of several market leaders in the region such as Oracle, Microsoft, Netsuite, etc. Asia Pacific signifies strong potential for growth as it is witnessing massive economic developments since the last few years.

The developing economic condition of the region is supporting the expansion of the retail industry, thus, augmenting the retail inventory management software market. Also, the rapid developments and rising adoption of cloud-based technologies are expected to drive the growth of the regional market in the years to come.

Industry News:
In April 2019, International Business Machines (IBM) Corporation, an American multinational information technology company, has announced its current project ‘Smart Mirror’ which is designed to tie up with offline retailers and help them improvise inventory management. The product will be deployed first at fashion retail Vero Moda.

In April 2019, Google, an American technology company, has announced the launch of ‘Cloud for Retail’ platform which is aimed at helping retailers in real-time inventory management.

In April 2019, Alternate Health Corp., a pioneer in technology solutions for the regulated cannabis industry, has announced the introduction of Metrc Track-and-Trace system for a comprehensive seed-to-sale inventory management system.

About Market Research Future:
Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.

Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: [email protected]
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Issued By MRFR
Business Address Market Research Future Office No. 524/528,
Amanora Chambers Magarpatta Road, Hadapsar Pune - 411028 Maharashtra, India +1 646 845 9312
Country India
Categories Business
Tags retail inventory management software market
Last Updated February 8, 2021