Link to original article:Best Supply Chain Management Software of 2023
Supply chain management software can help your organization take better control of its product pipeline. From the planning phase to actual execution, supply chain management software should offer an end-to-end solution that avoids a fragmented work experience across many different software platforms.
In building our list of the best supply chain management software, we talked to experts in the field of supply chain management and conducted extensive research on the topic – ensuring that only the best options are included in our guide.
Pros:
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Great report-generation tools
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Good customer support
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Range of third-party integrations
Cons:
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Some inventory features are a little limited
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Slight learning curve
Precoro is the best supply chain management software overall. It offers a range of great tools for supply chain management, including excellent reporting tools that help businesses keep better track of every aspect of their supply chains. The software has good analytics features and can help businesses manage supplier relationships without having to leave the platform at all. It also supports a range of third-party integrations, so you can use it with the other software solutions and platforms that you already use.
On the downside, some users may find that it has a slight learning curve, which is to be expected given the number of advanced features. Additionally, some users have reported that some inventory features can be slightly limited. Still, Precoro’s capabilities should be more than enough for most businesses that need a well-designed and high-performance supply chain management solution.
Specifications:
- Inventory management features and capabilities: Inventory analytics, workflow automation, and more
- Supplier management and collaboration tools: Add and invite suppliers in the supplier portal, internal supplier collaboration tools
- Advanced analytics and reporting capabilities: Spend management analytics, dashboard with analytics widgets
- Automation and workflow management features: Process automation, approval workflow automation
Pros:
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Good customer service
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Well-designed
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Inexpensive compared to the competition
Cons:
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Learning curve
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Partner integrations can be tricky
Not every organization wants to spend the kind of money required for Precoro. Businesses who want to spend a little less should consider TrueCommerce. TrueCommerce offers a range of high-end features at a lower price, and users report that it boasts great customer service. This is good because they also say the software has a bit of a learning curve.
In addition, users have reported that the partner integration feature can be a little tricky to use at times. This is a feature that most businesses will likely need to take advantage of, so it may take some time to get used to the process and features on offer by the partner integrations feature. Still, if you’re willing to spend that time and could stand to save a little cash, then TrueCommerce is absolutely worth checking out.
Specifications:
- Inventory management features and capabilities: Vendor-managed inventory for working with partners, automated planning
- Supplier management and collaboration tools: Partner integrations for in-software collaboration
- Advanced analytics and reporting capabilities: Supplier reporting, compliance performance analytics, and more
- Automation and workflow management features: Order management, QuickBooks integration, automation, and more
Pros:
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Easy to use
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Good selection of integrations
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Quick response time
Cons:
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Can take some time to get set up with
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Complicated pricing
Logiwa WMS is purpose-built for e-commerce business, offering excellent real-time inventory reporting features, and a great selection of third-party integrations. Additionally, the software offers a great response time of only 7-9 minutes, and users say it’s relatively easy to use.
Like with any software, Logiwa WMS isn’t perfect. The software can take some time to set up, such that it’s recommended that you start the setup process four weeks before you expect the service to be completely up and running. The pricing structure can be a little complicated as well, so you’ll have to reach out to Logiwa WMS to get a better idea of how much the platform will cost your business. Still, if you don’t mind dealing with these limitations and running an e-commerce business that requires supply chain management, then Logiwa WMS is the way to go.
Specifications:
- Inventory management features and capabilities: Real-time inventory reporting, storage optimization features, demand forecasting
- Supplier management and collaboration tools: Supplier performance management, supplier cost reporting
- Advanced analytics and reporting capabilities: Full analytics dashboard, data consolidation, performance monitoring
- Automation and workflow management features: Shipment rule automation, inventory automation
Pros:
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Dedicated warehouse management features
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Real-time inventory tracking
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Good support features
Cons:
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Expensive
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Slow reporting
If you heavily prioritize inventory management, consider Epicor Kinetic. Epicor Kinetic is built with a range of high-end inventory management features, including quantity reporting, material requirement planning, monitoring tools for shortages, and more. The software also boasts great tools for individual supplier reporting, and users report that the company offers excellent customer support.
While Epicor Kinetic is well-designed and offers great inventory management features, it is a little expensive – and you’ll need to reach out to the company to determine pricing for your organization. Some users have also said reporting can be a little slow, and you may not get reports right away. Still, these issues are relatively minor compared to the advantages of Epicor Kinetic if inventory management is important to you.
Specifications:
- Inventory management features and capabilities: Inventory quantity reporting, material requirement planning, shortage monitoring, and more
- Supplier management and collaboration tools: Per-supplier reporting tools, more
- Advanced analytics and reporting capabilities: Predictive analytics, operational reports, pre-designed dashboards
- Automation and workflow management features: Financial automation, business process automation
Pros:
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Huge range of integrations
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Very simple carrier addition tools
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Good analysis tools
Cons:
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Doesn’t support every carrier
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Limitations to user roles and permissions
FreightPOP is built around managing shipping services. It supports a massive range of carriers and makes it easy to add those carriers into your workflow with a single click. FreightPOP also offers great analysis tools, including customizable dashboards, which can help users keep track of all their suppliers and carriers at a glance.
Nevertheless, some users report that there are still some carriers missing, so double-check that the carriers you use are included before you purchase the software. Additionally, there are some limitations to how user roles are handled, especially when it comes to those suppliers.
Specifications:
- Inventory management features and capabilities: Centralized inventory tracking tools, logistics planning
- Supplier management and collaboration tools: Supplier relationship management tools, supplier budget monitoring tools
- Advanced analytics and reporting capabilities: Audit analytics tools, customizable dashboards, trend identification
- Automation and workflow management features: Logistics automation tools, AI automation features
Best For Automation: Magaya Supply Chain
Pros:
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Top-of-the-line automation features
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Works with United States Customs
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Handles international shipping easily
Cons:
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Expensive
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Support limited
Magaya Supply Chain offers a range of automation tools, including the ability to automate forms, customer service, and more. Additionally, the service offers the ability to communicate with U.S. Customs and excellent international shipping tools.
These tools don’t come for free though, and users report that Magaya Supply Chain is relatively expensive compared to some of the competition. Further, while the customer support on offer isn’t bad, it isn’t always available, and you may find yourself having to wait before you can get in touch with customer service.
Specifications:
- Inventory management features and capabilities: Real-time inventory data, inventory tracking, automatic updates
- Supplier management and collaboration tools: Supplier visibility tools, supplier analytics
- Advanced analytics and reporting capabilities: Customizable analytics, data reporting tools
- Automation and workflow management features: Form automation, customer service automation, and more
The Bottom Line
Supply chain management software can help make managing your supply chain quicker, more convenient, and more automated, ensuring that you can deal with changes quickly and manage relationships with suppliers easily. The best overall supply chain management software is Precoro, but some businesses should consider alternatives. For example, e-commerce businesses should consider Logiwa WMS.
Supply Chain Management Software
Functionality: Supply chain management software can offer a range of different features and functions pertaining to the supply chain process, such as supply chain planning, order management, purchase orders, demand planning, etc. Some put managing inventory front and center, while other software is focused more on shipping tools and management. There’s plenty of software that handles all of the features you’ll need, but if your business has particular needs related to a specific area of the supply chain, consider software that addresses those needs particularly well.
Integrations: Most businesses leverage a range of different tools and features to run their operations. If those tools – including your supply chain software – work well together, it can radically improve how your business runs. If a piece of software is involved in your supply chain process, see if it can integrate with any supply chain management software you’re considering.
“Often a one-size-fits-all solution doesn’t make the best fit for you and your organizational needs,” says Dave Tuttle, vice president of Data Intelligence at Breakthrough. “For the best outcomes, ensure the product is focused enough to provide a strong solution to the most pressing problem or will be applicable to the best solution process.”
Reporting and Analytics: Many reporting and analytics tools allow you to track the progress of suppliers and ensure that every stakeholder remains on budget. Other analytics features allow you to create customizable dashboards to keep track of only the metrics that are most important to you. While some software can take a while to generate high-end and useful reports, high-end reporting tools can help you run your business.
Customer Support: Ensure that customer service is available when and how you need it, such as through phone, email, etc.
Cost: On the low end, supply chain software can cost a few hundred dollars per month. On the high end, it can range up to thousands of dollars per month. Depending on the software and how you use it, it could end up saving you much more than you’ll spend. Still, consider the price, especially if you run a smaller business overall.
The Best Supply Chain Management Software
Our contributor, Christian de Looper, consulted a range of experts on supply chain management in building this list of the best supply chain management software. These experts included John Carrico, vice president of Product Management at Epicor, and Dave Tuttle, VP of Data Intelligence at Breakthrough.
Christian then narrowed down the huge range of supply chain management solutions through extensive research. For each solution, he looked at the features that are commonly most important for managing larger supply chains. These features included functionality, integrations, reporting and analytics, customer support, cost, and others.
WHY SHOULD YOU TRUST US?
Christian de Looper is a technology expert with over a decade of experience testing and reviewing both hardware and software. As such, he has a deep understanding of what makes great software. This knowledge, combined with the experts that Christian interviewed, helped ensure that only the best supply chain management software solutions were included on this list.
If you run a supply chain – even a smaller one – then solid supply chain management software is a must. This software can help ensure that you can keep track of every aspect of the supply chain in one software solution. Supply chain management software can also help you save money by offering great reporting and analytics tools, and it can help you manage relationships and collaborations with suppliers and other parties.
Supply chain management software helps you retain an overall view of the entire supply chain. Including supply chain planning, order management, purchase orders, etc. Different supply chain software prioritizes different aspects of the supply chain. For example, some focuses more on the shipping process, while other software emphasizes supplier relationships. All good supply chain management software offers reporting and analytics tools that should help managers better streamline the supply chain in general – ultimately helping save money.
“The best supply chain management software is one that is cognitive,” Carrico says. “The future of supply chain businesses is increasingly about delivering contextual intelligence through an ecosystem of industry-focused platforms, cloud technologies, and people-centric AI capabilities that enable real-time decision-making and automation to optimize business flows – both within an enterprise and across supply chains.”
Supply chain management starts at a few hundred dollars per month and ranges up to thousands per month. Larger businesses may be able to spend a little more for higher-end supply chain management solutions, while others should look at lower-cost options. “Great software ensures the ROI for implementation and utilization gives you a return that makes the implementation and training of a new solution realistic,” Tuttle says.
Some supply chain management software is cloud-based, meaning that all you’ll really have to do is log into your portal to access the software. Other software can be installed by simply downloading the app and following the on-screen installation instructions. That said, you may need your IT department to perform an installation on all of your business’s workstations.
As your business grows, you’ll need access to more and more supply chain management features. If you find that the software you currently use doesn’t offer the features you need, consider replacing it.
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