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Inventory Management, Order Management, Warehouse Management, Inventory & Order Management, Multi-brand Retailers

Why retailers need an eCommerce order management system

  • February 5, 2018
  • 932 Views
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  • 6 MIN READ

The online market has grown tremendously in the past few years. The digitally enabled customers like to shop on the run and that is the reason why we see a rise in online sales and e-commerce market. “The Asian e-commerce market is estimated to reach the US $1.8 trillion in 2018, accounting for 60 percent of global retail e-commerce market”, as per emarketer. Such rapid growth promises a great future for the Asian as well as Indian e-commerce industry signifying a strong market and increased customer demand. But, despite these growth trends, many e-commerce businesses are failing to take off within their initial years of commencing business. Thus, with the continuous spike in online sales, it gets tough for online retailers to cope up with the demand and facilitation.

Most online retail businesses have started relying on an order management system to streamline their eCommerce operations. Generally, retailers use basic order management features incorporated into their eCommerce platform which might run out of the fuel in case of aggravated order complexity or sudden spike during holiday or sale season. Hence, it becomes quite essential for retailers to understand the importance of an advanced order management system that can support the complexities of eCommerce retail environment. For example, a retailer who has recently commenced operations might like to choose a lighter version of eCommerce order management software in comparison to a global retailer that maintains a phenomenal inventory size and transact with thousands of customers in a single day. At this level, only an agile Order Management System can sustain the business effectively, and efficiently. In simple words, eCommerce retail operations without an impressive Order Management System in place becomes a discouraging and unproductive exercise.

This blog will help you to understand how an advanced Order management software can save your time and resources, cut down errors, boost efficiency and enhance the overall customer experience. But, before we start explaining the ways to improve your process, make sure that your business is seamlessly integrated. These integrated components include: Point of Sale (POS) solution, Order Management System, Customer care department, Inventory management system, Warehouse Management System, Enterprise Resource Planning system, and Order Fulfillment solutions (shipping, third-party logistics, in-store logistics).

Revamp your Order processing and delivering strategy

  • Start by automating your most straightforward tasks – Tasks like sending notifications to your customers, printing labels and invoices .etc., all these can be managed by your order management system saving your employees time.
  • Speed up your pick and pack process – An advanced Order Management System also includes inventory management and product management tools that simplify the said process. The tools help in locating the exact position of the item in the warehouse, issuing gate pass and updating inventory in real-time in Order Management Software. Once the item is out of inventory, the packing department uses the information from the software about its weight and proportions and packs it in the appropriate trunks.
  • Ship packed items through integrated partners – As your Order management system is integrated with the logistics companies, you can quickly choose the high rated partners and send to customers via them. The software helps you as well as the customers to track shipments in real-time.

Build an organized and managed inventory

  • Be sure that your order management system is updating the inventory in real-time – Mismanaging an inventory can get your customer experience in trouble. An out-of-stock item being displayed as available might ruin your shopper’s experience leading to wrong order placements and ultimately refunds. Proper integrations with the point-of-sale system, warehouse management system, marketplaces etc. can help you manage up-to-date inventory and foster a superior sales strategy.
  • Unleash your best fulfillment strategy – An order management system has the capability to seamlessly integrate with order fulfillment software making it easy for retailers to provide options such as pay online and pick from stores, express delivery or same day delivery. This can only be possible if you are able to view your complete inventory across all sales channels and provide your customers with all possible fulfillment solutions.
  • Use forecasting and analytics tools to the best way possible – These tools help you identify your future or maybe immediate future sales in case you are planning to offer something exclusive to your customers in the festive or holiday season. The order management software takes control of the complete stock and sends timely alerts to retailers about stock soon getting empty.

Manage multiple marketplaces effectively and efficiently

  • Ensure efficient response to marketplace changes – The benefits of an eCommerce order management system are significant. A Centralized order management offers greater efficiency in managing orders across the enterprise. With the help of an order management software, retailers can ensure faster and more efficient responsiveness to customer demands and marketplace changes.
  • Update pricing strategy based on competition analysis – With the help of repricing tools, you can update pricing in real-time on different marketplaces like Amazon. This will help you to maintain the consistency of your product’s price on various marketplaces along with consistency in the brand.

Vinculum Group, a global software company enabling the eCommerce ecosystem with SaaS-based products for MultiChannel Order management and fulfillment, has worked closely with many reputed brands in different domains (eTailers, Sellers, Marketplaces, Retailers) of online retailing space and helped them to overcome the challenges related to order, inventory, returns management with its cloud-based software – Vin eRetail. Today brands like Nykaa, PrettySecrets, Jaypore, Happily Unmarried and a range of sellers on marketplaces seamlessly manage and fulfill orders using Vin eRetail.

Learn more information on how an eCommerce order management software can help you optimize your processes and turbocharge your business, book a demo today – Click Here

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