It improves transparency, communication, and enables real-time access to data, which can help businesses to achieve a competitive edge over their counterparts. The tremendous growth can be attributed to the increasing adoption of digitalization and automation in supply chain processes, the need for enhancing supplier performance, and improving the cost-efficiency & productivity of operations.įurthermore, implementing the SRM system helps businesses to enhance their supplier relationships, improve collaboration, and mitigate the risks associated with supplier management. In addition, countries such as India, Brazil, South Korea, and Japan are also displaying significant growth potential in the Supplier Relationship Management Software market. In Europe, Germany and France are the key markets owing to the presence of several established manufacturing companies. The United States dominates North America's MRD, while China and Australia are the primary markets driving growth in the APAC region.

The Supplier Relationship Management (SRM) software market is witnessing immense growth globally, with North America, Europe, and Asia-Pacific (APAC) being the key regions displaying extensive demand. The MarketWatch News Department was not involved in the creation of this content.

Ariba contract management software