SpendEdge, a global procurement intelligence advisory firm, has launched three procurement research reports on the ITcategory. To help clients understand the current supply landscape of the information technology sector, analysts have covered reports such as 'Inventory Management Software Procurement Research Report', 'Predictive Analytics Procurement Research Report', and 'Blockchain Technology Procurement Research Report'
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Inventory Management Software, Predictive Analytics, and Blockchain Technology New Procurement Research Reports (Graphic: Business Wire)
Global Inventory Management Software Category Procurement Market Intelligence Report:
The growth of the global inventory management software market can be attributed to the rapid growth in m-commerce and e-commerce which has led to the rise in adoption of omnichannel distribution systems. These systems require sophisticated inventory management systems that help in monitoring system operations. Also, the increase in adoption of RFID technology in the retail sector fuels the growth of the inventory management software market.
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Inventory Management Software Procurement Challenges:
- The difficulty in understanding the requirements.
- The high implementation costs.
To overcome the above-mentioned procurement challenges, the buyers in the global inventory management services market should adopt the practice of making a detailed budget for the various cost and contingency plans for cost overruns by including the managers of the different departments. Also, the buyers in this market space should have a clear understanding of the multiple features that are required in the solution and should draft a list based on the requirements.
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Global Predictive Analytics Category Procurement Market Intelligence Report:
The growth of the global predictive analytics market can be attributed the rise in demand from the end-user sectors which include the retail industry, BFSI, and pharma sectors. Predictive analytics offers businesses the benefits of leveraging the use of data to build statistical models that provide forward-looking statements on consumer behavior. Moreover, the demand for automation in the manufacturing sector in developing countries is expected to drive the growth of this market over the forecast period.
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Predictive Analytics Procurement Challenges:
- The lack of technological expertise.
- The high costs associated with data standardization and integration.
To overcome the above-mentioned procurement challenges, the buyers in the predictive analytics market should identify service providers that possess the required technological expertise. The buyers prefer to engage with service providers that offer cloud-based services; they should also collaborate with them to implement software in their organization. Also, the buyers should ask for support in data integration from legacy systems.
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Global Blockchain Technology Category Procurement Market Intelligence Report:
The growth of the global blockchain technology market can be attributed to the low transaction cost and unchangeable nature of a blockchain's data offered by it. The use of blockchain technology ensures that all transactions are carried out through cryptographic codes known as keys. Since these keys are unique for every transaction that takes place, it enables users to transact with each other, without relying on an intermediary.
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Blockchain Technology Procurement Challenges:
- The growing need to invest in computing power.
- The lack of awareness and understanding regarding blockchain technology.
To overcome the above-mentioned procurement challenges, the buyers in the blockchain technology market should implement a private blockchain by being a member of an industry consortium. This helps them in splitting the operational costs among the participants and leads to a viable ecosystem, providing sustainability to a commercialized solution.
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To view our complete portfolio of information technology procurement research reports, visit: https://www.spendedge.com/store/industries/information-technology
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