Business trends dominating economy in 2022

After the pandemic and a big hit on the economy, everything goes normal in 2022. This year, there are many trends emerging and we will explain everything in detail.

Social media gets bigger role

After the iOS update, social networks tend to keep traffic through the platforms. They don’t want users to leave the app/platform and go for another website because they will lose track duo to the new update of iOS. That’s why social networks will have a bigger role in marketing and online commerce. When you try to create an online commerce platform and promote on social media, then you’ll need help from the experts in this field. That’s where SocialWick comes into the play as they have over a decade experience in social media marketing. 

WMS implementation is growing

WMS (Warehouse Management Systems) are warehouse management systems. If earlier such software was mostly in large companies, today the trend is beginning to cover all areas: from large retail to small production facilities with warehouses. It was the COVID-19 pandemic that led to the transformation of logistics chains. Since the beginning of the pandemic, representatives of online, food and pharmaceutical retail have faced an increase in the number of orders, which in turn has significantly increased the load on warehouses. Hence the demand from the business for software that will control and accelerate processes.

Effective inventory management in the face of volatile demand requires the introduction of innovative technical solutions. Experts predict that the WMS market will continue to grow and by 2025 its volume will reach $5.1 billion.

How to apply the trend to business? Many companies already understand the need to work on the transparency of warehousing processes – this facilitates control and prevents errors and losses. SAP EWM after implementation on average brings the following results to business: 

  • increase the efficiency of the distribution of tasks of warehouse staff by 20%;
  • reduction of order processing time by 5-15%;
  • increase control over the implementation and monitoring of warnings by 30%. 

Digital supply chain management 

The hottest trend this year was the Supply Chain 4.0 concept. It is used to control and manage digital supply chains. The solution makes the whole process easier and more accessible. Many organizations have already implemented Supply Chain 4.0. And here are some key tasks she helps solve: 

  • Forecasting factors such as demand, weather, market changes.
  • Save time on delivery of goods.
  • Real-time planning. This minimizes periods of supply freeze due to continuous analysis.
  • Clustering clients into separate groups using analytics tools.
  • Choice of individual approach to each category of clients.

Digital transformation of businesses and cloud services

According to the latest data by the reputable research companies, about 70% of European leaders agree that the pandemic will accelerate the digital transformation. Many organizations are already adapting to new market conditions. For example, most Asian banks quickly adapted their internal processes to online. In today’s marketplace, companies that are abandoning the digital transformation are unlikely to stay afloat. The benefits of cloud solutions have been talked about for the last few years, but there is now a truly massive shift in business to cloud services. Due to the specifics of their activities, companies accumulate a huge amount of data, which only increases over time. Therefore, it is necessary to provide the ability to clean the system from unnecessary data, transfer archival data and create a single source in the cloud environment for rapid decision-making in all departments.