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Recent Price Trend - Inventory Management Software
Inventory management software prices have been increasing at an estimated annualized rate of 0.2% during the three years to 2017. Growing demand for the product has encouraged increases in market prices. However, lower supplier costs have mitigated software price growth. Furthermore, low price volatility has benefited buyer power by allowing them to more accurately anticipate future financial spending. As a result of the marginal rise in prices, buyers have not been pressured into rushing the procurement process or engaging in long-term contracts.
In the three years to 2017, demand for inventory management software has been rising. Private investment in computers and software has been increasing, indicating rising demand among buyers seeking to integrate software, including inventory management software, into their daily operations. Additionally, as more businesses have used the internet in their operations, demand for cloud-based business software solutions has risen, resulting in an increase in demand for inventory management software in general. Rising demand for the software has, in turn, driven up market prices.
However, falling supplier production costs have been placing downward pressure on inventory management software prices during the past three years. Purchase costs have been falling as prices of key inputs, such as computers and peripheral equipment, have fallen. Declining input costs have helped restrain price growth in the market. Furthermore, vendors have continued to release newer versions of their software, driving competition and placing downward pressure on prices. Moreover, multiple industries, including manufacturing, retail and wholesale, seek innovative inventory management software as a means of more efficiently tracking inventory levels, orders, sales and deliveries. As demand for inventory management software has risen, new companies have entered the market, which has further boosted price-based competition and limited software price growth.
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