4 Reasons to Value an Order Management System

Introduction:

It’s essential for any organization to manage orders effectively in the fast-paced, cutthroat business environment of today. Order processing, inventory control, and customer satisfaction management become more challenging as organizations develop and expand. An Order Management System (OMS) is a game-changer that has thankfully been made possible by the development of technology. An OMS is a complete software system that offers firms a plethora of advantages by centralizing and automating order-related activities.

Customers now anticipate quick and flawless order delivery, which has caused a fundamental shift in consumer behavior for firms operating in the digital age. Due to their inability to satisfy these contemporary needs, the conventional manual techniques of order processing have become extinct. An Order Management System may help in this situation by offering a simpler method of handling orders, inventory, and customer relations.

In this post, we’ll look at four strong arguments for why companies should be appreciative of the existence of an order management system. An OMS turns into a crucial tool for every business trying to survive in today’s dynamic market, from increasing efficiency and inventory management to assuring seamless order fulfillment and allowing data-driven decision-making. Let’s investigate the revolutionary potential of an OMS and see what benefits it offers, which will eventually lead to increased operational effectiveness and customer happiness.

That time of year is here! It’s useful to think back on the things that got us through it in a world where every year has its own struggles and unexpected twists. The past two years have dealt retailers numerous curve balls, including supply chain delays, excess inventory, inflation, and an impending recession. 

The order management system used by merchants has been one success story. Due to market and customer expectations, once “nice to have” features like purchase online pick up in store (BOPIS), curbside pickup, and real-time inventory visibility become essential. 

This year, buyers have four reasons to be grateful for their order management system (OMS).     

Reduce Expenses 

Although it may seem contradictory, purchasing software may help companies operate more efficiently while also lowering costs. 

An order management system may handle returns automatically instead of taking up to 15-20 minutes each order when done manually, for instance. A store will save around 2,000 minutes (or 33 hours) every day if they process 100 returns. Time that businesses may put back into their operations.

Additionally, smart order routing enables merchants to send goods from the fulfillment facility that is most convenient for their consumers, be it a warehouse or a nearby retail location, reducing transportation costs and improving the last mile.     

Optimize Inventory

Moving extra stock is a challenge for businesses. To resolve this problem, it is essential to have insight over inventories across all selling channels. A product that has plenty of inventory available via another sales channel should not have an “out of stock” message sent to customers by a merchant.

Retailers may utilize inventory across their whole network—regardless of where it is—by using an order management system. They may readily assign items where they are required to minimize lost sales chances by having a comprehensive view of all inventories.     

Deliver Orders Faster 

One thing hasn’t changed despite all the external challenges merchants face: rising customer expectations. Still, customers anticipate receiving their orders within a reasonable amount of time, or at the absolute least, inside the delivery windows specified on a company’s website. Retailers must provide their goods to customers as quickly as feasible while maintaining a healthy bottom line.

Your order management system will be useful in this situation. Up to 98% of purchase procedures, including refunds, cancellations, and customer contacts, are automated by an OMS. Furthermore, as was already indicated, an OMS sends orders to the optimum fulfillment site to guarantee delivery timeframes.   

Increase Revenue

You may improve the experience of your customers by improving your fulfillment capabilities. According to research, stores with a strong omnichannel shopping strategy often keep 89% of their consumers, compared to those without such a plan, who only maintain 33% of their customers. 

Product availability and fulfillment choices are two important factors that may be improved with the use of an order management system.    

Product Availability: 

Offer backorders and preorders for desirable items

Display on your storefront the inventory levels of nearby stores.

Market your goods on online marketplaces to reach a larger audience 

Fulfillment Options:

Buy Online Pickup in Store 

Curbside Pickup 

Buy Online Return in Store 

Reserve Online Pickup in Store 

Ship from Store 

Fast home delivery 

Conclusion

In conclusion, a sophisticated tool like an order management system has a lot to offer enterprises. An OMS is essential to the success and expansion of contemporary businesses, contributing to greater efficiency, production, inventory control, and customer satisfaction. It’s important to be grateful for the benefits an OMS offers since they enable organizations to simplify processes, maximize resources, and create outstanding customer experiences.  

Author Bio 

Glad you are reading this. I’m Yokesh Shankar, the COO at Sparkout Tech, one of the primary founders of a highly creative space. I’m more associated with digital transformation solutions for global issues. Nurturing in Fintech, Supply chain, AR VR solutions, Real estate, and other sectors vitalizing new-age technology, I see this space as a forum to share and seek information. Writing and reading give me more clarity about what I need.