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Sustainable profitability is the ultimate objective of organizations. The entire value chain you create to deliver to your target market involves a comprehensive procedure for an enterprise order management system. Each step you take towards developing your final product, either provides a solution to the pain points of customers or adds negative encounters of customers with your enterprise brand. It’s a cycle of steps altogether strapped with an order management system for an enterprise.  Microsoft conducted a research study with 1000 U.S consumers and concluded that 65 % of customers sever ties with brands over just one negative experience. To ensure repeat sales and continuous inflow of customers, you need a holistic approach. A robust order management process ensures a smooth cycle of the value chain of your organization and makes sure you don’t get stuck in the trap of negative customer engagements caused due to process bottlenecks. The best go-to solutions for an error-free value chain is offered by automated business processes. In this post, we will give you valuable take away inputs of the general enterprise order management process so that you can choose what’s best for you!    What is Order Management? Order management is the science of aligning the various steps involved in keeping track of orders in-flowing into the business and handling the operations or logistics required to accomplish them. This order management process is a holistic approach to achieving a sustainable value chain delivery system. It is an exhaustive combination of activities from the starting point of receiving an order, delivery, payment integrations, operations, logistics, and extending up to after-sales experience including exchange/return management administration. Order management is an aspect of business process automation. Since inventory and supply are a few of the most nettle & tricky activities for stakeholders, so it’s inevitable to use a well-implemented Order management system. Dealing with orders effectively and in a productive manner is the core of the supply chain process and is certain for profitability. It’s extremely important to collaborate with all departments with customer expectations. Improved financial progress can be achieved only through long term customer satisfaction and retention. Investing in an OMS to improve your competitive advantage is a very smart decision. The enterprises today are undertaking fractured supply chain processes and ending up with high costs of production, matchless customer pressure, etc.   An order management system is in demand today because of: National, local and global expansions: The next-Gen market is characterized by a shift towards growth orientation. Enterprises are hunting for quick alignment and wider local/global expansions. Hence the need of the hour is a solution which can be implemented easily and is flexible enough to enable business process integrations throughout globalization to compete with bigger market players. A high number of orders and multiple delivery channels: Customers prefer wide choices and hence providers need to handle multiple channels and logistics. Attaining visibility across the front end of the supply chain is unavoidable for brand experience. It’s important to stay updated with other market players in every aspect so that you don’t get left out of the competition. Complexities of global supply chains are the new pain-point: The global market provides enormous opportunities and every organization wants a share of the pie. The supply chains have become more comprehensive and composite with shorter product life cycles. To coordinate with all the pieces becomes a struggle for multinationals due to their economies of scale. What becomes more challenging for providers is keeping supply chain costs at bay. If mid-sized organizations miss on this component and local integration, they lose out on the benefits of large scale production. Extremely high customer expectations: The cost of missing a single step in customer service is really high for enterprises in a competitive industry. Globally, enterprises and providers are concerned with new product introductions, products to service quality, delivery, warranty, etc. “Quality” is the key to success. It starts from product or service quality and continues until after-sales service delivery. This makes the supply chain more demanding and failure highly fatal!  The benefits of adopting an Enterprise Order Management System: An efficient order management system (OMS) for an enterprise mechanizes and streamlines the operations, shipping, and order processing ability centrally for mid-sized organizations. It’s a very smart way of business process automation, which adds ease and efficiency in daily operations. It’s an electronic system developed to execute orders in a planned and cost-effective manner. It increases the productivity of resources involved across maximum levels. Medium Sized organizations adhering to stringent regulations enjoy the advantage of real-time monitoring positions and preventing regulatory violations round the clock. An OMS plays a key role in keeping the stakeholders updated with information. It’s a one-stop platform for key insights related to customer returns, shipping, refunds, customer database, vendor database, order processing records, billing and payment information, etc. An OMS also contributes to error-free order processing, operations, tracking, and with an assurance of minimum delays or backorders. With smart reporting, analytics, and evaluation, enterprises successfully can conduct a deep analysis of the workflow.   How does OMS work for an enterprise? The basic objective of an Order Management System (OMS) is to organize and make the work process easier for organizations. It consolidates orders from all sales channels into a single platform and is smart enough to give you the benefits of analytics. For enterprises, the Order Management System (OMS) is unavoidable if they wish to streamline workflow operations and introduce new products in the marketplace. An OMS becomes a mandate if you want to easily ramp up production in the lowest time possible.   An Order Management System covers six pillars: Orders: Pooling in customer orders from multiple channels, both internally and externally. Inventory: Undertaking accurate forecasting and syncing activities in real-time across all channels to avoid stock-outs. Fulfillment: The focus is on a well-organized warehousing process involving picking, packaging, and integration with targeted shipping carriers. Quality fulfillment techniques are futuristic. Returns: An OMS serves as a single platform for the organization to […]

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