Technology innovation is often a competitive advantage for players in the eCommerce industry. The industry is heavily dependent on technology, which forms the basis of its business models. An Order Management System (OMS) is an example of such a technology that has proven to significantly ease the complex task of managing eCommerce operations. If you are into the eCommerce space, having a robust OMS is essential for long-term success. There are many such systems in the market; however we would recommend you to explore Ordercircle OMS which is one of the most advanced and easy to use system. An OMS helps in tracking orders from the moment of order placement until order delivery. It also maintains and analyses data for every activity in the process. This article details how an OMS can impact your business functions and in turn boost your eCommerce business.
An eCommerce business receives a large number of orders every day from multiple channels. Therefore, it is essential to accurately maintain track of all these orders. An OMS can enable you to do this very effectively by maintaining a record of:
These records are automatically organized and maintained electronically in a highly secure environment. Thus, in the future, these details can be easily retrieved from the back-end database.
An eCommerce business usually has several warehouses at multiple locations. It is essential that when an order is placed, the nearest warehouse services the order so that:
However, to ensure this, the warehouse must have an adequate stock of the necessary products. An OMS can ensure this in the following ways:
Also, Artificial Intelligence (AI) enabled eCommerce websites can provide insights on the user interest for various products. Such insights in combination with the predictions generated by the OMS can be critical to predict the demand for various products with a very high level of accuracy.
Due to the high volume of orders, an eCommerce business often has to move products in bulk. This is more relevant in the case of products that are not frequently ordered, as not all warehouses would stock those products. As an illustration, 20 orders are received for a 500-gram bottle of ketchup. Of these, 9 orders are from location A, 7 are from location B, and the rest 3 are from Location C. The warehouse at a Location D (nearest to these 3 locations) doesn't have the stock of ketchup bottles. It would be more economical to move the 20 bottles in bulk from the warehouse which has stock to the warehouse at Location D. Subsequently, the orders can be dispatched to the customers address from Location D warehouse. An OMS will provide insights regarding such bundling for bulk movement of products based on the orders. This will positively impact the logistics cost and transit time.
Further, with Machine Learning (ML) algorithms, an OMS can optimize the logistic movements to minimize the costs. Also, an OMS can help track the delivery of orders on a real-time and order-specific basis. These details can be shared with the logistics management department and also with the respective customers. This provides oversight to the management regarding the movement of products. Also, the customer gets assurance and updates regarding the orders placed and expected time of arrival (ETA).
Given the high volumes of orders processed in an eCommerce business, it is cumbersome to manually generate bulk invoices. As OMS comes to the rescue here as well. A robust OMS can automatically generate invoices in bulk. The system reads the order details and automatically generates the necessary documents with high levels of accuracy and efficiency.
An OMS plays a critical role in improving customer service and delivery. For example, an ML-powered chatbot can integrate with the OMS and provide automated chat support and order-specific details to a customer. Similarly, in handling customer grievances, the OMS can easily track the reasons for issues in delivery. The eCommerce business representative can quickly retrieve such details and provide the right answers, and in turn improve the overall customer experience. Â
Given that eCommerce businesses are ahead in technology adoption, it is certain that they invest heavily on Marketing Technology (MarTech). However, to get the best output of MarTech, it needs to be fed with large volumes of relevant data. An OMS can provide this as it maintains huge data reserves in a well-structured format. This aids the eCommerce business to implement highly effective marketing strategies, including personalized emails, intelligent product recommendations, customized product feature highlighting, and many more.
An OMS provides many more advantages as listed below. Ordercircles OMS provides you all of these and many more advantages that can help your business scale.
Given the wide range of benefits that an OMS provides for an eCommerce business, it is a must-have to ensure improved business efficiency and growth.
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