How to Select the Right Order Management System (OMS) for Omni-Channel Retail Operations?

How to Select the Right Order Management System (OMS) for Omni-Channel Retail Operations?

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An omnichannel solution refers not only to the merchant’s ability to meet these needs—but in doing so integrates the various customer engagement channels and provides a seamless customer experience.

A customer might be looking for the perfect pair of shoes, finds them online but wants to try them on before buying. Once instore, the customer is delighted to find that the shoes are in stock and black, just as the online store described them. Now ready to purchase, they pay through a mobile app on their smartphone without having to rummage through their wallet to look for a credit card. Two weeks later, the customer calls the support line to inquire about the arrival of the same product, but in a lighter color. When the product eventually arrives in stock, the service representative communicates with the customer over online chat, demonstrating full knowledge of the customer
history. In today’s environment, customers want a personalized and integrated journey and an omnichannel solution provides an optimum experience by connecting all aspects of customer
engagement.

That’s why optimizing order management is a crucial piece of a successful omnichannel strategy. Order management is now an art form. Businesses devote endless hours to improving order management because it is so critical to maintaining margins and keeping customers happy.
An OMS can also resolve a problem when something goes wrong with an order. If sufficient inventory is not actually available at the location where it was supposed to be, the system automatically reroutes it, choosing the next best location and shipping it from there.

Benefits for Retailers

Increased customer satisfaction: Using the closest possible fulfillment centers will get packages to customers faster. And by ensuring ecommerce and in-store channels can be utilized for fulfillment, retailers have an easier time solving customers’ problems.

Decreased labor costs: Reducing the amount of time and labor devoted to making sure the business is optimizing inventory movement will mean significant savings. Staff members previously devoted to order planning can spend time on more value-added tasks to generate additional revenue instead of routing orders. In addition, in-store staff can handle a greater portion of order fulfillment, reducing the load on warehouse employees and optimizing your labor force.

Decreased shipping costs: By optimizing fulfillment by closest location, items included in an order/available inventory and more, retailers can reduce shipping costs. The OMS will always find the cheapest way to get an order to a customer while still meeting their expectations.

Increased sales and margins: Offering shoppers additional delivery options will increase conversions. In-store pick-up, for example, is vital for someone who needs a product right away. Also, safety stock can be dramatically reduced – if not eliminated – with an order management system. Ensuring any order can be fulfilled regardless of channel means safety stock – which can become quite expensive – is no longer necessary. Retailers can keep inventory in retail stores while allowing all channels to sell.

Any omnichannel strategy simply isn’t possible without a functionally rich, reliable order management system. It will help you deliver exceptional customer experiences at a lower, sustainable cost.

NetSuite Expert is proficient for providing NetSuite services like customization, implementation, maintenance and support and end-to-end solutions for retailers.

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