Retail Sourcing and Procurement Market Scope
The sourcing & procurement processes are designed in order to evaluate and engage the suppliers for acquiring goods and services. It comprises processes such as insourcing, outsourcing, global sourcing, and strategic sourcing among others. In order to enhance the consumer experience, the retail industry has shifted to automated, industrialized, and cloud-based solutions for the retention of the customers. To increase the business and sales the retail industry has focused on the adoption of cloud and mobile technologies for the procurement and sourcing activities.
According to AMA, the Global Retail Sourcing and Procurement market is expected to see growth rate of 12.1%
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Retail Sourcing and Procurement market throughout the predicted period.
Kinaxis (Canada), Manhattan Associates (United States), Proactis Holdings Plc. (United Kingdom), Coupa Software (United States), HighJump. (United States), Basware Corporation (Finland), SAP SE (Germany), Oracle Corporation (United States), IBM Corporation (United States) and Epicor Software Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are JDA Software Group, Inc. (United States), JAGGAER (United States), GT Nexus (United States), Zycus Inc. (United States) and Proactis Holdings Plc (United Kingdom).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Retail Sourcing and Procurement market and Region with country level break-up.
On the basis of geography, the market of Retail Sourcing and Procurement has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 7 Feb 2019, Zycus, a leading worldwide provider of comprehensive and end-to-end Source-to-Pay software suite has announced that a leading department store chain in North America has entered into an agreement with Zycus for its eSourcing, Contract, Request and Project Management solutions and will start the implementation of all the software soon.
On 31 Dec 2018, Zycus, a leading global provider of comprehensive and end-to-end Source-to-Pay software suite has announced that a leading food retailer based in the Netherlands has selected Zycus’ software solutions to support its procurement transformation. It is a retail company, operating supermarkets, and e-commerce businesses. and On 3 Oct 2018, JAGGAER, the world’s largest independent spend management company, announced a partnership with Velocity Procurement, a best in class procurement consultancy and technology services provider, to deliver fully integrated, transformative procurement automation and spend management optimization solutions.
- Growing Interest of Retailers in Predictive
- Analytics Automation in Procurement Activities
- Rising Demand for Centralized Procurement
- Increasing Focus on Digital Transformation
- Need For Increased Visibility in Supply Chain
- Rapid Economic Growth and Disposable Income in Emerging Economies
- Retailers Increasingly Adopting Omni Channel Strategy
- Increasing Business Complexities and Globalization
- Unwillingness to Adopt New Platform/Technology
- Lack of Technical Expertise
Key Target AudienceRetail Sourcing Procurement Solution Providers, Technology Investors, Research & Consulting Firms, Regulatory & Government Bodies, End Users and Others