For numerous businesses, especially those experiencing rapid growth, managing, tracking, and fulfilling orders across multiple sales channels can be quite challenging. At some stage of their logistics operations, they still rely on outdated pen-and-paper manual processes, resulting in order inaccuracies and confusion.
Fortunately, there exists a solution to address these issues: an order management system (OMS). However, selecting and utilising an OMS involves more than simply running order data through a platform. 42% of retailers express the need for improvements in their existing OMS.
So, what tasks should an OMS handle? And how can you evaluate the most suitable OMS for your business? This article answers precisely those questions.
An OMS is a comprehensive platform that oversees various sales, orders, inventory, and fulfillment. Its primary function is to facilitate the efficient movement of products from the point of sale to the customers who have purchased them.
Here are some critical functions performed by an OMS:
Managing inventory across various sales channels is businesses’ third most significant challenge. If the foundations for scalable growth haven’t been laid, keeping track of omnichannel orders’ volume, velocity, and fulfillment can impede your business’s progress.
An OMS comes to the aid of retailers by enabling them to effectively handle inventory across the multiple channels through which they sell. By leveraging an OMS, you can accomplish the following:
Seamlessly update inventory levels across all sales channels.
Gain insights into the best-selling SKUs for each channel and restock accordingly.
Analyse regional or channel-specific data to identify top-selling products.
Advanced OMS has revolutionised business operations in modern business. These cutting-edge systems perceive the entire supply chain as an interconnected ecosystem, empowering merchants to automate their internal processes seamlessly, from order placement to fulfillment.
To expedite the processing, picking, and shipping of orders, eCommerce merchants can rely on the capabilities of an OMS, which enables them to:
Accept payments without constraints on shipping destinations or order currencies.
Seamlessly transmit order information to distributors or third-party logistics providers (3PLs) for efficient fulfillment.
Automatically generate shipping labels if you choose to fulfill orders in-house.
Many brands overlook the reverse logistics process, which involves handling customer returns and processing refunds, exchanges, or credit notes. Disregarding this crucial aspect can prove to be a costly mistake, especially considering that one in five online products are returned.
Furthermore, 96% of those customers are likely to return for future purchases if the returns process is hassle-free. By implementing OMS, your eCommerce business can offer a seamless and convenient returns experience for all parties involved.
An order management solution goes beyond its core functionality and serves as a comprehensive customer relationship management (CRM) platform. With this integrated system, merchants gain access to a wealth of customer information, encompassing their previous orders, lifetime value, and geographical location.
By leveraging the power of an OMS, retailers can harness this valuable customer data to deliver hyper-personalised marketing messages aimed at securing repeat sales. The ability to segment customers based on specific criteria is a prime example of this personalisation.
While having access to order data in a central location is undoubtedly valuable, it’s equally crucial for eCommerce businesses to assess their profitability and identify areas where they can further maximise their success.
Most OMS offer seamless integration with other back-office functions, particularly finance software. This integration enables the OMS to consolidate information from your accounting software, merging inventory and sales data. Consequently, you can obtain comprehensive insights into accounts payable and receivable, streamlining financial processes and automating tasks such as invoice and purchase order creation. The best part? No more manual data entry is required.
BladePRO is an advanced order management system offered by I-Fulfilment, a leading provider of e-commerce solutions. It is designed to streamline and optimise the order fulfillment process for businesses operating in the online retail industry. BladePRO combines powerful software and cutting-edge technology to offer a comprehensive solution for efficiently managing and fulfilling customer orders.
Implementing BladePRO as part of your order management strategy can provide numerous advantages for your business. Some of the key benefits include:
BladePRO incorporates sophisticated order tracking and management features that help enhance order accuracy. Automating various stages of the order fulfillment process minimises the risk of errors, such as shipping the wrong item or quantity, resulting in improved customer satisfaction and reduced returns.
Efficiency is crucial in eCommerce, and BladePRO enables businesses to pick, pack, and ship orders with greater speed and accuracy. With advanced inventory management capabilities, the system optimises the order fulfillment process, ensuring items are located, packed, and dispatched swiftly, leading to faster delivery times and increased customer satisfaction.
In today’s highly competitive online market, meeting customer expectations is vital. BladePRO enables businesses to provide a seamless order management experience, from order placement to delivery. Real-time order tracking, automated notifications, and timely updates ensure that customers stay informed about their order status, enhancing their overall experience and building trust in your brand.
Maintaining optimal inventory levels is a challenge for online retailers. BladePRO tackles this issue by providing advanced inventory forecasting and stock management capabilities. By analysing historical data, customer demand patterns, and market trends, the system helps businesses anticipate inventory needs accurately. This proactive approach minimises stockouts, prevents overstocking, and ultimately reduces costs and improves profitability.
Expanding your business to international markets can be complex, but BladePRO simplifies the process with multiple warehouses globally. The system integrates and has seamless control over various shipping carriers. It offers features such as international shipping options, customs documentation management, and multi-currency support. These capabilities enable businesses to cater to customers worldwide, tapping into new markets and increasing global reach.
I-Fulfilment’s BladePRO is a revolutionary order management software for online retailers, warehouses, and third-party logistics providers (3PLs). With its advanced features, seamless integrations, real-time tracking, inventory management capabilities, and scalability, BladePRO transforms order management and helps businesses thrive in the dynamic world of eCommerce and multichannel selling.
Contact us to schedule a demo and see how BladePRO can benefit your business.