Guide to choosing the best Order Management for your online retail business
The modern business world is getting more complex. With shopping moving inexorably online, competition has never been greater. Continuous surge in online purchasing is making it tough for retailers to cope up with the demand and facilitation. Surprisingly, even something as seemingly simple as getting an order to a customer is far more complicated than earlier.
It is no surprise that many brands today need a little assistance. Fortunately, the help that’s required comes in the form of an order management system (OMS). Indian sellers, in particular, should read on and know everything they ought to know.
A smart and efficient OMS tracks orders from inception to delivery, managing orders and inventory as it goes through its lifecycle. It is the method by which companies handle their vital business process. OMS tracks orders and provides real-time information of orders from different selling platforms such as Amazon, Flipkart, etc.
Order management software is also shareable, from the customer service team to the marketing department, the warehouse staff, and you, the owner. An effective order management system improves business and doubles the chance of repeat customers.
What does an OMS do?
This software system manages and facilitates the execution of trade orders. Hence, irrespective of business size and nature, an OMS has to meet certain functions.
The order management system is crucial for any eCommerce business. It helps managers to provide excellent service to their customers. An efficient OMS enables companies to stay updated about their products in the inventory and does business accordingly.
Inventory management becomes a task if not done properly. Creating a product bundle eases the process. Product bundling can do wonders in the eCommerce business by speeding up inventory clearance.
Centralised order management
The order management system will enable managers to efficiently manage orders coming from multiple sales channels within one interface. You will be amazed by the simplicity offered by the centralisation of order management. An OMS not only directs multiple sales channels to the main point but allows management from a single point as well.
An eCommerce business is quite a unique model in itself. Its order processing includes the following steps:
Placing of order by customer
Payment is done successfully
The warehouse receives order for dispatch
Product is picked, packed, and shipped
The customer receives the order
If any problem, resolve it
What are the benefits of an effective OMS?
The benefits of using an OMS are several, especially improved customer services with increased accuracy.
Processing a manual spreadsheet is a tedious process. Moreover, it also costs your business time and money. It reduces the risk of accounting errors by a human. Automating the entire process with an efficient OMS enables you to focus on main business aspects and improving customer expectations.
Fewer chances of error
Where humans are involved, the scope of error increases. The best OMS software now incorporates AI for supply chain, logistics, and all other processes of a product’s life cycle.
The correct system provides real-time information related to orders, inventory, customers, and more. This is the information required for decision-making and has an edge over your competitors.
It is possible to manage your business at any time, from anywhere. The customers can also benefit from OMS. They can also buy and sell anything, at any time, from any part of the world.
How to select the correct OMS for your business?
Whether your firm is large or small, there are aspects to focus on when comparing OMS options. Before finalising the right system for you, think about the other applications and services with which it must engage. The better OMS is the one that does not change your whole setup for its functioning.
Indian eCommerce brands – like all businesses everywhere – often have lofty plans for the future. No one ever dreams of standing still; all want to grow and flourish in the future. While choosing an OMS, always see to it if it can scale along with your business.
It is hard choosing an order management system with so many options available in the market. Always keep in mind that no two systems are the same, with each having different strengths, weaknesses, and unique features. It is important to focus on whether or not the system you choose will support your present as well as your future needs as and when your business grows.
Hence, these are a few factors that you should consider while looking for the best fit for your business. As long as you are clear with what your requirements are from an OMS, it’s easy to find the correct one. It is advisable to define your objectives at the outset. Then, work closely with your chosen vendor throughout the complete process.
If you need any consultation on finalising the OMS, get in touch with eCommerce experts like Powerhouse91. This new-age company engages in buying and selling eCommerce brands that sell products on various online platforms such as Amazon and Flipkart among others. They buy brands and take them to the topmost level.