The rise of e-commerce has created new opportunities for retail operations to reach a larger base of consumers and drive revenue growth to new heights. However, this development is not without its own fair share of challenges too. Most notably, retailers may struggle to effectively manage their various systems that handle processing orders and deliver on customer requests. Businesses will need to account for the increasing complexity that will result from an expansion of their services. Retailers can streamline these efforts and eliminate consumer headaches by implementing a high-quality order management system.
OMS solutions offer a wide range of operational benefits that improve the performance of order delivery efforts. When implemented correctly, OMS can deliver the following system upgrades:
- Automate tasks to process orders quickly and accurately
- Generate extensive databases regarding vendor and consumer information, allowing for greater oversight
- Update inventory in real time, offering opportunities for better product management
- Keep meticulous records on customer transactions, ensuring that nothing gets overlooked
"Benefits of a well-implemented OMS include improved sales visibility, improved customer relations and efficient order processing with a minimum of delays and back-orders," TechTarget stated.
With the inclusion of e-commerce channels, retailers will have to manage those along with traditional in-store transactions. An effective OMS solution allows organizations to integrate those systems, removing complexities on both the enterprise and consumer sides. IBM explained that a omni-channel retail order management system allows businesses to establish greater continuity across its brands. Removing any confusion from the order process will also lead to an overall more satisfying experience for the consumer, resulting in reduced customer churn rates.
One of the more frustrating experiences for a consumer is coming across a desirable product online only to discover that that particular item is out of stock when attempting to finalize a purchase. Overselling items is a fairly common occurrence across the e-commerce landscape and can adversely affect an organization's brand. Omni-channel OMS tools offer more accurate insight into current inventory levels from the outset, preventing such circumstances from developing. Once an order has been placed, however, consumers can keep tabs on its status and ensure that it is delivered in a timely fashion.
Greater oversight over inventory levels also allows retailers to better manage their available stock to meet customer demand. As IBM noted, when the entire retail environment, including warehouses up and down the supply chain, are effectively coordinated, organizations can divert inventory to those areas that need it most. This way, businesses can keep their clientele happy by delivering their products as promised.
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