Supply chain event management enables real-time alerts on any irregular events in the entire supply chain, says a report by Frost & Sullivan. "The growing need to provide suppliers and management with early warnings based on data obtained from internal Enterprise Resource Planning (ERP) and other supply chain management systems, acts as a major driver for the uptake of supply chain solutions," says Dushyant Mehra, research analyst for Frost & Sullivan.
Supply chain coordination will play a key role in event management and performance management applications as they emerge as competitive tools to manage highly complex supply chains. Reducing lead time and cost as well as detecting, diagnosing and resolving performance glitches before they become expensive problems will put more emphasis on knowledge of real-time problems in the supply chain. This spells an increasing preference for supply chain solutions that integrate planning, execution, and coordination of the entire supply chain, notes Mehra.
Supply chain solutions vendors will have to pay more attention to product customization and supply chain visibility since visibility of goods in the supply chain represents a critical factor in maintaining optimal inventory levels. Supply chain visibility, therefore, continues to gain significance, Mehra continues.