Order Management ERP Systems – What is it and How does it work
The Order Management System can be accommodated well within ERP Systems to help businesses streamline their larger part of Order Management with ease of accessibility, tracking, efficiency, and accuracy.
Businesses do face a lot of challenges in terms of managing their day-to-day orders as the scale of orders may sometimes require huge efforts to manage it all smartly and smoothly without failing. In the traditional order-taking system, it was observed that there were a lot of inconsistencies and inaccuracies due to which businesses have to bear huge losses. In order to solve such challenges, the order management system can help businesses by taking care of the tasks related to managing orders with utmost efficiency and productivity. Since businesses do operate on multiple channels these days, it requires them to have a dedicated system so that everything can be managed with ease through a common order management system that can be retrofitted within ERP.
Order Management System
OMS supports the entire lifecycle of an order, from receiving the order to fulfilling it. It also integrates with other applications such as ERP, CRM, or eCommerce platforms to help create a seamless buying process for consumers and an efficient management process for businesses from start to finish. This results in increased productivity and better visibility into all aspects of an order’s life cycle. ORM also ensures that Key Performance Indicators get tracked at every stage of the order process to make it transparent and accountable in the prospect of businesses.
Order Management ERP Systems: Integration of OMS & ERP
The Order Management System and Enterprise Resource Planning can be combined to help businesses manage their resources and operations with ease. Since order management is an integral part of business, it can be integrated well within ERP solutions to make use of it in a robust way. It can help in seamlessly synchronizing data and essential points related to comprehensive order to the delivery process.
How does the Order Management ERP System work?
The OMS (Order Management System) is a dedicated system that streamlines orders from various channels such as ecommerce, offline retail, online stores, affiliates, etc. and tracks them throughout the process by taking necessary actions step by step. It uses a technology stack to automate manual processes so that they are optimized and can be performed at scale. By using an OMS, businesses can gain operational efficiencies without any additional staff costs and get end-to-end visibility across the entire value chain. This allows them to make faster and smarter decisions which ultimately save time and money.
Order Management System in Tech-Enabled Commerce
The Order Management System is capable of meeting all business criteria on key steps which are as follows:
- Order Taking & Processing: Fetching sales from various platforms and directing them on a common dashboard or platform.
- Inventory Tracking: Keeping a track of inventory and stock on a real-time basis so as to meet supply and demand.
- Order Fulfilment: As businesses are moving to E-commerce, fulfillment becomes a crucial aspect to align with commitments at the consumer end. It may include everything from timely pickup of orders to on-time delivery.
- Returns: Tracking returns to ensure that the order reaches back to the associated vendor and warehouse.
What are the benefits of OMS?
Inventory optimization
Using an OMS you will have access to real-time inventory information, which allows you to optimize stock levels and reduce wasted inventory. This will also help you to meet the demand and supply of stocks based on the data forecast provided by OMS.
Ensures Fulfillment
The OMS enables you to track every item that leaves the warehouse. As orders come in you need to know when they are going out, where they’re going, how much it costs and what’s been ordered. The OMS will tell you everything about your stock so you never have to guess or make assumptions about the state of your inventory. You can even create shipping labels through an order management system to align the process accurately.
Improves Customer Service
Customers expect fast response times on their orders. Your OMS helps you keep up with these expectations by providing accurate order tracking. It also keeps customers informed on the progress of their orders throughout the entire process. With an OMS, you don’t have to worry about a package being lost or delivered late because you can check its status live 24/7 through a dedicated dashboard.
Assures Supply Chain Management
OMS can help companies in managing their supply chain management better. Every company should be able to track its products and services through different stages of processing an order.
Are you looking for a full-fledged Order Management ERP System? NOI Technologies can help you get the right solution that will help you meet your business needs with affordable, advanced and competitive technology solutions.
