Netstock’s 2024 Inventory Management Benchmark Report provides an in-depth analysis of the current state of inventory management, based on anonymized and aggregated platform data of its 2,400+ customers worldwide. The report uncovers significant challenges and opportunities for supply chain decision-makers and serves as an indispensable resource for small to medium-sized businesses (SMBs). According to Netstock’s findings, SMBs have held onto fewer goods this year, a promising sign of high inventory performance and meeting customer demands.
As an innovative leader in demand and supply planning solutions, Netstock is well-positioned to deliver this first-of-its-kind report.
Key findings include:
- Supplier reliability: 72% of SMBs struggle with inconsistent delivery times, particularly those sourcing from China. Sea freight remains the most reliable option.
- Shift to nearshoring: Only 25% of American SMBs now rely on offshore suppliers, reflecting a shift toward domestic sourcing and a need for predictive supply chain tools.
- Excess inventory concerns: Excess stock accounts for 38% of SMB inventory, with larger SMBs experiencing even higher levels of overstock.
- Financing challenges: Over half of SMBs use cash or credit to finance inventory, but fluctuating interest rates create added pressure, especially in retail.
- Low AI adoption: Despite AI’s potential to optimize inventory management, only 23% of SMBs have adopted it, with concerns over data security and integrity.
Explore the full report to uncover more insights on how SMBs are navigating the evolving landscape of inventory management.
Please CLICK HERE to download the Report.
