Optimizing Ecommerce Inventory and Performance in 2024

As technology continues to improve, more and more businesses are turning to automated solutions to manage their inventory. In our latest report, we partnered with Worldwide Business Research, collecting data from 100 SMB Shopify merchants to understand their key challenges and how they plan to implement inventory software and AI to overcome them.

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About the research and respondents

This report uses proprietary data collected via surveys conducted by the WBR Insights research team, comprising 100 ecommerce leaders in the United States and Canada. These respondents are exclusively Shopify sellers who handle physical inventory and do not participate in dropshipping.

According to the analysis, adopting user-friendly inventory management systems and integrating artificial intelligence (AI) into business operations will be pivotal strategies for ecommerce businesses in 2024. Merchants in this space hope to use these technologies to enhance efficiency, improve customer service, and drive innovation in the coming years.

Key trends and observations from the report

According to our research, 83% of SMB Shopify merchants struggle with maintaining synchronized inventory, manufacturing, and accounting data due to operational obstacles. Download the report to learn how embracing user-friendly inventory management systems and incorporating AI into business processes will be essential strategies for ecommerce enterprises in 2024.

How SMBs mitigated rising materials costs from external factors

Prices have skyrocketed due to inflation, supply chain disruptions, and other events. 73% of businesses are using technology to ease financial pressures. This reflects the significance of digital tools in modern inventory management and signals a rising preference for innovative, tech-driven solutions to tackle conventional business obstacles.

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Businesses planning to implement AI into their operations in 2024

Almost all ecommerce merchants are adopting AI to enhance operations. They plan to use AI for customer service, inventory management, marketing, and productivity tracking. AI will break customer communication barriers, improve immediacy, and drive data-driven decision-making while optimizing internal processes.

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Real-time insights with Katana Cloud Inventory

Know exactly where your products are with intuitive cloud inventory software that aligns supply and demand. Katana helps you stay lean and efficient — goodbye stockouts and overstock.

Live inventory management

Keep stock at optimal levels at all times with the right data

Access the inventory data you need to make informed decisions when purchasing to prevent stockouts and overstock. Katana helps you track inventory levels across multiple locations and monitor arrival times for efficient order fulfillment.

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Built-in purchase order management

Issue purchase orders from Katana and track delay risks

Make informed purchasing decisions based on precise material requirements and reorder points. Issue purchase orders directly from Katana and track delay risks to meet customer demand.

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Omnichannel sales management

Centralize and monitor data from every sales channel in one place

The future of sales is flexible, diverse, and multichannel. Katana gives you total visibility by centralizing order fulfillment operations from all your sales channels in one intuitive overview. Manage sales orders from multiple e-commerce stores or physical locations in one place.

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Production management

Manage operations from scheduling to resource allocation

Create bills of materials to optimize production scheduling, resource allocation, and manufacturing costs. Katana helps you maintain the right inventory levels for raw materials and finished products while tracking labor costs and productivity in the Shop Floor App.

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Financial visibility via cloud accounting

Send key financial data to QuickBooks Online and Xero

Send key financial data to accounting software like QuickBooks Online and Xero and spend less time transferring data between the systems you use. Convert purchase orders to bills, create or update invoices based on sales order statuses, and sync inventory values in real time for accurate costing.

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