Supply Chain Management Growth AreasJuly 14, 2012
After sustaining a strong blow from the recession, the supply chain management industry is now poised for sustained growth. According to a recent article on Inc.com, the industry is already on the rebound. In 2011, revenue hit $141.2 billion, a 10.9% increase from 2010.
Over the next five years, the global supply chain management industry is expected to grow more than 9% annually. The recent upswing in domestic manufacturing should fuel even more development. Watch for growth in the following areas:
- Freight Transportation. Sales in the freight transportation sector have risen an average of 20.5% over the past two years. Products or services that help firms lower their environmental impact, as well as their costs, will see even more growth opportunities over the next five years.
- New technologies. New technologies will make supply chain management easier and more accurate to plan, manage and execute. As manufacturing companies increase production and freight volume, they’re going to need to fine-tune efficiencies. Enhanced software and technological improvements will assist in that effort.