Businesses can improve order accuracy with the help of order management system. It prevents human error, which can be costly in the long term. Businesses also meet customer expectations by delivering the order timely, improving the shopping experience. In addition, the order management system enables faster pickup, packing, and delivery. It also manages the inventory channel by channel, eliminating stockout or overstocking.
4 October 2023, India:
Every business wants growth and wants to sell its products to more and more people. In this technological era, reaching more people has become easier. Ecommerce businesses leverage the internet to sell their products to more customers. Since multiple channels are available online, businesses capture, track, and fulfill orders using multiple sales channels.
However, multiple sales channels increase online orders but are tricky due to order returning dilemmas and complexities in order management. With more returns, businesses face difficulties aligning the inventory to order from multiple channels, order fulfillment, etc. Order management system comes as B2B eCommerce solutions and helps track the stock levels, optimize data across all the sales channels, end-to-end logistic solutions, etc.
Moreover, considering an order management system brings several benefits:
Improve Order Accuracy:
No business can take the risk of not fulfilling or delaying the order. However, managing or tracking the order using a spreadsheet instead of an order management system can be prone to human error. At least one out of two retailers face inventory or fulfillment issues due to manual processing.
Not having proper B2B eCommerce solutions can be a nightmare for logistics, ruining customer experience. This can be even worse if eCommerce businesses send the wrong product. Ecommerce solutions reduce your manual efforts and streamline repetitive tasks, eliminating the cost and resources businesses invest in correcting orders.
Fulfill Customer Expectations:
Modern-day customers rely on online shopping, and they want their order within the given time frame. Timely order is a touchy point for modern customers. When they find their order is delayed, they abandon the shopping session or avoid buying from the platform they used previously.
Choosing an order management system improves the shopping experience of customers and also helps eCommerce businesses to meet customer expectations. Moreover, this also brings transparency between customers and businesses, so they can short out any problem and eliminate any negative reviews.
Pick, Pack, and Ship Faster:
The craze of online shopping has increased exponentially, and so do eCommerce retailers, but the delivery cost is one of the biggest concerns they are facing. The expectations of modern-day customers are increasing daily, and more than 30% of customers are opting for same-day delivery. However, businesses need to fulfill their customer needs to retain them.
With OSM, businesses can stream their order process, as the longer it takes to process the order, the longer it takes to arrive. With little time business can pick, pack, and ship the order in a little time.
Prevent Overstock or Stockout:
Manual management is one of the biggest problems retailers face, leading to overstocking or stockout. Many businesses don’t have the capital to invest in B2B eCommerce solutions while others have invested too much in inventory.
OMS comes with a cost-effective solution, providing eCommerce businesses with accurate reports about their inventory for multiple sales channels.
With eCommerce solutions, businesses can prevent paying storage fees due to large inventory quantities. On the other hand, it also prevents you from not having enough inventory, which can turn your customer away.
Serve Global Customers:
Most businesses want to acquire more customers, and going international enables them to sell to more and more customers. Many eCommerce businesses are going abroad using multiple sales channels. B2B eCommerce solutions enable them to provide tailored experiences to their customers, like multilingual solutions. With these solutions, businesses can reach more customers in their native language, including the selling page, payment methods, and more.
Moreover, OMS also allows them to take payment in different currencies and route orders to the nearest warehouse of the customers.
Track Inventory Levels by Channel:
Ecommerce businesses can reach a wide range of customers using multiple sales channels. For example, customers can purchase items from business eCommerce stores, other eCommerce platforms, or offline.
The sales traffic can vary on each channel, so eCommerce businesses need to maintain the inventory level. OMS is specially designed for businesses dealing with multiple channels and helps in managing inventory according to the sales channel. It also provides important insight into the best-selling across the region.
Handle Reverse Logistic:
Reverse logistics is painful for any business, and it can lead to multiple reasons, such as bad customer experience, delay in delivery, etc. Usually, 18% of customers return the items, and more than 50% abandon buying from the brand after a bad experience.
The order management system ensures the customer has a great experience while returning the item. OMS prints the return level on the item, but addresses differ from parcel to parcel.