10 Best Supply Chain Management Software for Businesses in Singapore – 2024

Are you still managing your supply chain with outdated methods? That’s a risk you can’t afford. Inefficient supply chain management leads to increased costs and customer dissatisfaction. But what if there’s a more effective solution?

According to McKinsey & Co., advanced supply chain management software can reduce logistics costs by 15%, inventory levels by 35%, and service levels by 65%. These solutions have proven to significantly enhance supply chain operations globally.

For Singaporean businesses, embracing advanced software for supply chain is essential for competitiveness. With numerous options available, choosing the right software can be daunting. However, we’re here to assist.

We’ve compiled a list of the best supply chain management software for businesses in Singapore, including HashMicro, Tada, Shipaboo, and Logiwa WMS. These solutions streamline supply chain processes, improve efficiency, and drive success.

Let’s explore the top supply management software in Singapore in 2024 and identify the ideal solution for your business!

What is Supply Chain Management Software?

Supply chain management (SCM) is a process that involves planning, implementing, and controlling supply chain operations to meet customer needs efficiently. It covers the movement and storage of raw materials, work-in-process inventory, and finished goods from origin to consumption.

Meanwhile, supply chain management software is designed to help businesses optimize their supply chain operations. By streamlining these processes, companies can reduce costs and enhance customer satisfaction.

These programs have various features that improve supply chain management, such as supply chain planning, inventory management, and order fulfillment.

Additionally, supply chain management software enables businesses to track and monitor supplier performance, ensuring the use of top-quality suppliers. Implementing this software allows companies to boost their bottom line while delivering superior customer service.

Benefits of Supply Chain Management Software for Business

Implementing supply chain management software can transform the way businesses operate. By streamlining processes and enhancing visibility, this software brings numerous benefits that drive efficiency and profitability. Here’s a look at the benefits of software for the supply chain:

1. Better Supplier Collaboration and Quality Control Strong supplier relationships help maintain cost efficiency and detect quality issues early. Keeping raw material costs below 25% of retail sales is crucial. Trusted suppliers can solve problems and accommodate cash flow issues effectively.
2. Optimized Shipping and Lower Overhead Costs Streamlining distribution channels reduces costs and improves efficiency. This cuts the need for extensive inventory, lowering storage and security expenses while maintaining healthy cash flow and profits.
3. Effective Risk Mitigation Early issue detection saves money. Enhanced supply chain visibility reduces financial and reputational risks by ensuring compliance with ESG standards and avoiding sanctioned suppliers.
4. Improved Cash Flow Efficient supply chain management and strong supplier relationships boost liquidity and stabilize cash flow, enhancing financial health.
5. Greater Business Agility A robust supply chain enables quick adaptation to new opportunities. Reliable suppliers support business growth by scaling with demand.
6. Enhanced Visibility and Data Analytics Mobile apps and shared dashboards keep suppliers in constant communication. Real-time data metrics aid in efficient stock management and performance monitoring.

10 Best Supply Chain Management Software in Singapore

Choosing the right supply chain management (SCM) software is crucial for businesses in Singapore to streamline their operations from the beginning to the end. Here are the top 10 best supply chain management software in Singapore in 2024:

1. HashMicro

HashMicro’s Supply Chain Management Software is Singapore’s best supply chain management software company. It streamlines supply chain operations with complete visibility and advanced planning, sourcing, delivery, and forecasting analytics. It offers unlimited user access and customization.

The software excels in stock forecasting, detailed stock analysis, and Barcode & QR Code integration for easy tracking. It allows seamless warehouse stock management, picking and packing, supplier orders, and customer deliveries, working smoothly with barcode and RFID systems.

Singaporean businesses can benefit from government grants like the Enterprise Development Grant (EDG), which offers subsidies of up to 50%, and the NTUC CTC Grant, which offers subsidies of up to 70%. HashMicro also provides a free, no-commitment demo for businesses to try the software firsthand.

With comprehensive features and excellent customer support, HashMicro helps major enterprises in Singapore and beyond streamline their supply chain management.

Features and Advantages:

• Inventory Management: Tracks goods availability, locates items, and allows adjustments to avoid risks and errors.
• Automated Procurement: Streamlines the procurement process by automating purchase orders to suppliers when stocks reach minimum levels, ensuring timely restocking, reducing errors, saving time, and ensuring cost efficiency.
• Order Management: Tracks order status, provides updates, and enhances the overall order fulfillment process for efficient customer service.
• Shipment Tracking: Locates courier whereabouts to ensure on-time delivery of customer orders, improving delivery reliability.
• Return Management: Simplifies the return process, enhancing customer satisfaction by streamlining and managing returns effectively.
• Advanced Analytics and Forecasting: Harnesses machine learning and AI for precise demand forecasting, optimizing inventory levels, reducing holding costs, and facilitating reordering suggestions, offline inventory monitoring with pop-up notifications, vendor rating systems, trend analysis reminders, and adaptive forecasting based on seasonal and non-seasonal data.
• Integrated Planning and Execution with SCM Software Integration: Seamlessly integrates planning with execution, aligning supply with demand and reducing excess inventory by incorporating CRM-Sales, Procurement, Inventory Management, and Transportation Management systems on a unified platform for streamlined processes.

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2. Tada Supply Chain Software

Tada is supply chain software recognized for its collaboration. With a focus on providing tools for collaboration with multiple suppliers or across departments, Tada facilitates various collaborative processes, including demand forecasting, purchase order acceptance, communication of changing shipment plans, and seamless handling of escalations. The software incorporates AI-driven analytics for informed decision-making based on actual trends and patterns.

Features and Advantages:

• Real-Time Alerts to Changes and Disparity: Provides real-time alerts to changes and discrepancies in the supply chain.
• Phased Deployment: Minimizes disruption to business operations.
• Real-Time Inventory Management: Manages inventory in real-time.

3. Shippabo

Shippabo is a specialized supply chain management software with a focus on ocean freight deliveries. It provides one of the best SCM software services to streamline the import process for goods from overseas, catering to both pre-assembled items and large factory-sourced raw materials for assembly.

Features and Advantages:

• Cost Management: Manages and optimizes costs associated with supply chain operations.
• SKU-Level Visibility: Visibility into stock keeping unit (SKU)-level details for precise tracking.
• Trade Services: Facilitates and optimizes trade-related processes.
• Loose Container Load: Manages loose container load shipments for flexibility.
• Ocean Freight Services: For managing ocean freight deliveries.

4. Logiwa WMS

Logiwa WMS (Warehouse Management System) is supply chain software designed with features such as order management automation and real-time syncing. It has an open application programming interface (API), facilitating communication with other supply chain planning software and e-commerce platforms.

Features and Advantages:

• Order Management Automation: Streamlines the order management process.
• Real-time Syncing: Real-time synchronization of data and processes.

5. Precoro Supply Chain Management Software

Precoro’s supply management software is specifically tailored for purchase approvals. It focuses on providing supply chain visibility to all departments within an organization, enabling specific departments or individuals to approve supply chain decisions. This allows for a tailored and department-specific approval process, such as authorizing raw goods purchases for the production department or approving card stock purchases for marketing campaigns.

Features and Advantages:

• Instant Purchase Order Generation: Quick and efficient generation of purchase orders.
• Third-Party Integrations: Seamless integration capabilities with third-party tools.
• Automatic Budget Limits: Ensures adherence to budget limits.

6. E2open Supply Management Software

E2open is an online supply chain management software focused on creating a more responsive and demand-driven supply chain. It facilitates supply chain monitoring, analytics, planning, order processing, inventory and warehouse management, transportation management, sourcing and procurement, supplier management, and client collaboration. E2open also allows seamless integration of existing data without data loss.

Features and Advantages:

• Supply Chain Monitoring: Monitors the supply chain, including customizable notifications and in-transit status updates.
• Order Processing Management: Efficient management of order processing workflows.
• Inventory Management: Oversees and optimizes inventory levels.
• Warehouse Management: Features for efficient warehouse management.
• Transportation Management: Streamlines and optimizes transportation processes.

7. NetSuite

NetSuite is one of the supply chain management software companies focusing on predictive analytics, leveraging data analysis for forecasting. Its supply chain optimization tools are integral to its ERP software suite. Owned by Oracle, NetSuite operates on the Oracle SCM Cloud platform. The supply management software emphasizes on predictive tools, enabling users to forecast market demand and efficiently manage inventory.

Features and Advantages:

• Demand Forecasting: Utilizes predictive analytics for accurate market demand forecasting.
• Shipping Management: Dedicated to effective management of shipping processes.

8. SAP SCM Software

SAP Supply Chain Management (SAP SCM) is a supply chain management software providing business intelligence tools. This software includes AI-powered predictive analytics, integrated planning tools for a demand-driven supply chain, and supplier management tools to ensure optimal collaboration with vendors.

It utilizes advanced technologies such as AI and the Internet of Things (IoT) to offer visibility and analytics, aiding users in planning, sourcing, and delivering goods and materials.

Features and Advantages:

• Sales Forecasts, Inventory Targets, Supply Plans, and Financial Plans: Integration of various planning aspects for decision-making.
• Streamlined and Integrated Transportation Management Processes: Optimizes and integrates transportation management for efficiency.
• Enhanced Storage and Inventory Management Processes: Improves storage and inventory management.
• Partners Across the Supply Chain: Collaboration tools for effective communication with multiple tiers of suppliers.
• Digitize and Automate Source-to-Contract Process: Automates the source-to-contract process for all spend categories.

9. Magaya Supply Chain Software

Magaya Supply Chain is one of the best SCM software designed for retailers, warehousers, and third-party logistics providers. It serves as an all-in-one platform facilitating order tracking, warehouse management, financial management, and other crucial business processes. The software ensures synchronized and consistent data across various operations.

Features and Advantages:

• Demand Forecasting: Predicts and plans for demand fluctuations.
• Shipping Management: Dedicated to efficient shipping management.

10. Logility

Logility is supply chain software designed to offer advanced analytics and optimized planning, empowering users to gain a competitive advantage. The supply chain management software presents a digital supply chain that utilizes intelligent solutions, enabling proactive responses to market dynamics. Logility also features collaborative scenario analytics and advanced analytics to address complex retail and supply chain planning challenges.

Features and Advantages:

• Integrated Business Planning: Integrates various business aspects for cohesive decision-making.
• Master Data Management: Efficient management of master data for enhanced accuracy.
• Supply Optimization: Streamlines and enhances the supply chain.
• Retail Optimization: Addresses specific challenges in retail planning.

Choosing the Right Supply Chain Management Software

Now that you know some of the best SCM software solutions, how do you choose supply chain software for your business? To help you make an informed decision and select the most suitable supply chain management software for your business needs, here are several things that you should consider:

1. Customization Supply chain management software should be customizable to meet specific industry needs. Customizable alerts, queries, and dashboards ensure critical data is in the right hands. This flexibility allows businesses to adapt the software to their unique processes, whether in pharmaceuticals or perishable goods.
2. Knowledgeable Vendor Select an experienced vendor with deep market expertise. They should understand your challenges and provide valuable guidance. Their support should align with your strategy.
3. Ongoing Support Ensure the vendor offers strong support during and after implementation. They should scale with your business as it grows. Ongoing support is crucial for success.
4. Advanced Capabilities Match your business strategy with the required supply chain planning capabilities. The best software integrates demand planning, inventory management, and production planning. Advanced technology should connect data and operations across your supply chain.
5. Customer Reviews Check unbiased reviews on sites like Capterra and Gartner Peer Insights. Reviews reveal vendor support, features, and capabilities. They help gauge the software’s effectiveness in optimizing supply chains.
6. Cloud vs. On-Premise Choose based on your business needs. Cloud solutions offer data speed, integration, security, flexibility, and scalability. Consider switching to the cloud if your on-premise solution falls short.

Conclusion

Choosing the right supply chain management software is crucial for thriving in Singapore’s competitive business environment. HashMicro’s SCM Software, explicitly designed for Singaporean businesses, excels with features like automated procurement, order management, and advanced analytics.

With unlimited user access and customization, HashMicro integrates smoothly with existing systems and supports diverse industries. To boost your business, take advantage of up to 50% in subsidies through the Enterprise Development Grant (EDG) and up to 70% with the NTUC CTC Grant

Interested in seeing how HashMicro can enhance your business operations? Register for a free demo or contact our team for a consultation to discover the full potential of this powerful supply chain solution.

FAQ About Supply Chain Management Software

• What are the different types of SCM software?

  Different Types of Supply Chain Management Software
  1. Lean Inventory Tools.
  2. Supplier Management.
  3. Order Processing Tools.
  4. Demand Forecasting.
  5. Logistics Tools.
  6. Collaboration Tools.
  7. Warehouse Management.
  8. Bid and Spend Tools.

• Which software is used for supply chain management?

  In supply chain operations, ERP systems assist businesses in optimizing production planning, procurement, manufacturing, inventory control, and warehouse management.

• How much does SCM software cost?

  The overall cost of software for supply chain is influenced by factors such as the supply chain’s complexity, the business’s size, ownership fees, maintenance costs, and support fees. Prices can range significantly, from as low as $30,000 to upwards of $200,000.

• What are the ICT tools used in supply chain management?

  ICT tools that are commonly utilized to manage warehouse operations and the entire supply chain include Warehouse Management Systems (WMS), Electronic Data Interchange Systems (EDI), Enterprise Resource Planning (ERP), Barcode and Barcode Scanners, and RFID.

• Do I need SCM software?

  For businesses to thrive, they must implement an efficient and effective supply chain management software. The primary objective of SCM is to optimize the flow of goods and information between suppliers and customers to enhance efficiency and reduce expenses.