Global Vendor Managed Inventory (VMI) Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Vendor Managed Inventory (VMI) Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Vendor managed inventory software, also known as VMI software, is an inventory management software where a vendor creates orders for their customers based on demand information they receive from the customer. VMI systems support the practice of managing inventory stored at a customers site. These solutions allow a supplier of goods (such as a manufacturer) to optimize the inventory held separately by the buyer (usually a distributor or retailer) by telling the supplier how much of each item to send to a customers location.

Market Overview:

The latest research study on the global Vendor Managed Inventory (VMI) Software market finds that the global Vendor Managed Inventory (VMI) Software market reached a value of USD 1438.54 million in 2022. It’s expected that the market will achieve USD 2905.47 million by 2028, exhibiting a CAGR of 12.43% during the forecast period.

The importance of choosing a good partner

When an enterprise chooses to adopt Vendor Managed Inventory (VMI) Software, the responsibility of delivering enough inventory on time falls on the shoulders of vendor. Vendor may not have enough professional knowledge, proper infrastructure or proper software to provide reliable services. These problems will lead to the collapse of the whole supply chain. Unscrupulous vendor may use this method to send too much inventory for their benefit. For example, a vendor may ship too much inventory at the end of the year in order to increase the sales figures in the financial statements. Although there may be a return policy, customers have to put unnecessary energy, time and attention into this process. Sensitive information shared with vendor will help VMI to succeed, but if the business relationship fails, it will also put customers in trouble.

Increased security risks

Software connected to the Internet is facing an increasing risk of network attack, and in some cases, companies may be blackmailed and threatened. The rapid development of the Internet has brought about the digital age. The data needs to be saved in the account. VMI solutions support easy data and document exchange from one device to another within a company or between clients, customers and business partners. This may include custom and tax information, inventory documents, purchase orders and receipts, shipping and order status, and more. The use of the Internet will pose a threat to the company's information security. Therefore, companies can use cloud-based software, which is more secure. Software needs to be continuously upgraded to solve the security problem.

Region Overview:

North America dominated the Vendor Managed Inventory (VMI) Software market in 2022, with a market share of 45.58%.

Company Overview:

Intuit is one of the major players operating in the Vendor Managed Inventory (VMI) Software market, holding a share of 11.18% in 2022.

Intuit

Intuit Inc. is an American business that specializes in financial software. The company is headquartered in Mountain View, California.

TrueCommerce

TrueCommerces unique product and service offerings have been globally recognized by leading global research firms, customers, peers, partners, and industry-leading publications. The TrueCommerce global trading network includes over 92,000 pre-configured trading partner maps, including retailers, distributors, and logistics service providers, including global brands such as Amazon, P&G, and Unilever. TrueCommerce has over 550 employees based in 14 offices around the world, including eight offices in North America, three in the UK and Ireland, two in Mainland Europe and one in China.

Segmentation Overview:

By type, Cloud Based segment accounted for the largest share of market in 2022.

Cloud Based

Cloud-based software is a more advanced form of web-based applications. Cloud-based software usually has advanced functions, such as access to a wider range of services, software development solutions, storage and on-demand computing cycles. In addition to allowing data to be stored in the cloud, users can also cache data locally.

On-premises

On-premises software is installed and runs on computers on the premises of the person or organization using the software, rather than at a remote facility such as a server farm or cloud. The Software consists of database and modules that are combined to particularly serve the unique needs of the large organizations regarding the automation of corporate-wide business system and its functions.

Application Overview:

The market's largest segment by application is the segment Large Enterprises, with a market share of 42.34% in 2022.

Key Companies in the global Vendor Managed Inventory (VMI) Software market covered in Chapter 3:

Fishbowl
IBM
Dataware
Generix
PathGuide Technologies
eTurns
TrueCommerce
REMIRA
John Galt Solutions
CIN7
Intuit
Logility
Erply
Thrive Technologies
IQMS
Softeon
Clear Spider
Oracle

In Chapter 4 and Chapter 14.2, on the basis of types, the Vendor Managed Inventory (VMI) Software market from 2018 to 2029 is primarily split into:

Cloud Based
On-premises

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Vendor Managed Inventory (VMI) Software market from 2018 to 2029 covers:

SMEs
Large Enterprises

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)