How eCommerce is Shaping Today’s Supply Chain - Top Stats
The global eCommerce market has become a dominant force, expected to exceed $5.4 trillion by the end of 2024. This rapid growth has dramatically reshaped supply chain processes, pushing businesses to innovate, adapt, and meet evolving consumer expectations. Today, supply chains are no longer merely back-office functions; they are at the core of operational success. From eCommerce order management systems to cloud-based WMS, businesses now need to adopt a wide range of solutions to stay competitive.
In this blog, we’ll explore the top statistics of 2024 that reveal the deep connection between eCommerce and supply chain management and how businesses can leverage this connection for sustainable growth.
Top Supply Chain Statistics
43% of companies believe data analytics is the top tech priority for supply chain professionals in 2024(Finances Online)
What it means:
In today’s fast-paced business environment, supply chains have become more agile and responsive, largely due to the power of data analytics. By harnessing real-time data, businesses can make informed decisions, optimize inventory levels, and ensure smooth, on-time deliveries—an essential factor in the eCommerce world. Inventory management systems play a crucial role in ensuring that real-time inventory tracking is seamlessly integrated into operations.
Companies that don’t incorporate data analytics into their supply chain risk falling behind, as eCommerce requires speed, precision, and the ability to predict and meet customer demands.
58% of businesses view supply chain management as a competitive advantage in 2024
What it means:
Supply chain management isn’t just a cost center; it’s a critical driver of competitive advantage. Businesses that excel in optimizing their supply chains enjoy faster fulfillment, better customer satisfaction, and greater scalability. In the fiercely competitive eCommerce landscape, where consumer demands shift quickly, businesses with streamlined warehouse management and order management systems can outpace their rivals and tap into new growth opportunities.
By refining processes such as warehouse management software and inventory control software, companies can turn their supply chain into a strategic asset.
Only 24% of businesses have a proactive supply chain network in 2024 (Procurement Tactics)
What it means:
Despite the rapid advancements in technology, only a small percentage of companies have developed proactive supply chain networks. This leaves many businesses vulnerable to disruptions—whether from shortages, shipping delays, or fluctuations in consumer demand.
For eCommerce businesses, having a proactive supply chain is essential to ensure smooth operations, prevent stockouts, and maintain customer satisfaction. Companies that use predictive analytics to monitor potential disruptions are better positioned to handle these challenges. Implementing a warehouse control system can also mitigate risks by automating key areas of inventory flow management and reducing errors.
The global supply chain management market is projected to reach $10.3 billion by 2024
What it means:
As eCommerce continues to grow, so does the demand for more sophisticated supply chain management solutions. This surge in demand has fueled growth in the global warehouse management system market, providing businesses with a wide range of tools to optimize their operations.
The expansion of cloud-based WMS platforms and inventory management solutions means that businesses, particularly in the UK Warehouse Management System market, now have access to scalable solutions to meet growing consumer demand.
Supply chain disruptions could cost businesses up to 65% of their revenue (BCI 2024 Supply Chain Resilience Report)
What it means:
Disruptions in the supply chain can have a catastrophic financial impact. For eCommerce businesses, where seamless operations are crucial, disruptions can lead to significant losses—up to 65% of revenue in some cases. This underscores the importance of risk management and having resilient supply chain systems that can anticipate and adapt to unforeseen challenges.
Businesses must invest in supply chain resilience by using cloud-based eCommerce warehouse system software to predict potential disruptions and mitigate their effects.
eCommerce Supply Chain Statistics
70% of retailers have fully integrated their supply chains with eCommerce platforms post-pandemic (Statista 2024)
What it means:
The COVID-19 pandemic dramatically accelerated the shift to eCommerce, forcing retailers to integrate their supply chains with digital platforms. Today, over 70% of retailers have achieved full integration, enabling better management of inventory, order fulfillment, and last-mile logistics.
This statistic highlights the necessity for businesses to remain agile and flexible to meet the demands of the digital consumer. The need for efficient eCommerce warehouse management systems is more prominent than ever.
Nearly 50% of businesses plan to increase investment in warehouse automation in 2024 (Procurement Tactics)
What it means:
Warehouse management is one of the most challenging aspects of eCommerce fulfillment, with businesses handling larger inventories and tighter deadlines. As a result, nearly half of businesses are increasing their investments in warehouse management software and automated warehouse inventory to boost efficiency, reduce costs, and keep up with the surge in online orders.
Automation solutions, such as cloud-based WMS and stock control solutions, are now seen as essential tools for improving accuracy and speeding up fulfillment in eCommerce.
33% of supply chain leaders prioritize faster and more accurate fulfillment in 2024 (Invesp 2024)
What it means:
Fast and accurate fulfillment is no longer a luxury; it’s a necessity for eCommerce businesses. One-third of supply chain leaders focus on improving fulfillment speeds and accuracy, as online shoppers expect quick delivery and error-free service.
To achieve this, businesses are investing in last-mile delivery optimization and eCommerce order management systems, ensuring that the customer experience remains seamless from order placement to final delivery.
85% of supply chain professionals agree that advanced analytics help reduce costs in eCommerce (Invesp 2024)
What it means:
Data analytics has become a cornerstone of supply chain optimization, particularly for eCommerce businesses. Advanced analytics can help companies predict demand, reduce overstocking, and minimize costs related to inventory management and logistics.
With real-time insights provided by inventory management system software, businesses can not only save on costs but also enhance the customer experience by avoiding delays and stockouts.
77% of supply chains have expanded their delivery capabilities to meet eCommerce demands (Invesp 2024)
What it means:
As eCommerce continues to grow, consumers expect faster and more flexible shipping options. To meet these demands, 77% of supply chains have expanded their delivery capabilities. Whether through partnerships with last-mile delivery services or investments in cloud-based inventory management solutions, businesses are scaling up their logistics to offer same-day or next-day delivery.
This focus on delivery is critical to ensuring customer satisfaction and remaining competitive in a crowded market.
Additional Insights: The Future of eCommerce and Supply Chain Management
Sustainability
With increasing consumer demand for eco-friendly products and services, businesses are adopting sustainable supply chain practices. This includes reducing waste, optimizing routes to cut down emissions, and adopting circular supply chains.
Artificial Intelligence (AI)
AI is transforming supply chain management by enhancing demand forecasting, optimizing routes, and improving inventory management. By integrating AI, businesses can make their supply chains more resilient and adaptive to changes in consumer behavior.
Blockchain Technology
Blockchain offers greater transparency and traceability, particularly in global supply chains. As eCommerce continues to expand, blockchain can provide greater assurance for consumers about the ethical and sustainable sourcing of products.
Conclusion
The eCommerce boom has fundamentally altered the way businesses manage their supply chains. To succeed in 2024 and beyond, companies must embrace the power of data analytics, automation, and advanced technologies like AI and blockchain. By optimizing their supply chains to align with eCommerce demands, businesses can reduce costs, improve customer satisfaction, and maintain a competitive edge.
If you’re ready to transform your supply chain for eCommerce success, explore solutions like Canary7, a leading eCommerce fulfillment software designed to streamline operations and boost your business growth. Check out Canary7’s best warehouse management software at Canary7 WMS to learn more about optimizing your operations.
Namrata Chawla
Author
UPDATED ON: 16th Dec 2022
Namrata Chawla, a professional writer, crafts compelling weblog content on warehouse management, inventory control, logistics, and beyond. With a wealth of experience in this niche, she's dedicated to delivering unique, informative, and top-tier posts. Her commitment to exploration ensures fresh perspectives in each insightful blog post.
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