An Order Management System (OMS) enables retailers to take customer orders and direct those orders to the designated fulfillment center, warehouse, store, or third-party logistics provider.
An OMS also provides information on inventory across all business channels and locations, so retailers can see the products that are available in real time and where they are located. This insight is critical to ensure that customers are always able to find the products they want and that you can fulfill their orders quickly and efficiently.
Without an OMS, retailers have to manage orders with a legacy system, ERP or commerce platform, which can be time-consuming and error-prone. And without visibility into inventory levels, retailers can lose sales—which makes for unhappy customers.
5 Benefits of an OMS for Retailers
There are several benefits of order management systems, including:
1) Lower Inventory Costs
A digital order management system can help lower inventory costs by understanding your supply chain. This process lets your company decide where products should go and how much inventory should be on hand. This option also helps to avoid overselling or underselling, which leads to lost sales and canceled orders.
2) Order Tracking
An OMS provides visibility into the status of all orders, so retailers can see where an order is in the fulfillment process at any given time. This information can resolve any issues that may arise proactively and ensure that orders go out promptly.
3) Managing Inventory
A digital order management system allows retailers to track inventory availability across each of their company’s channels and locations in one system, which is critical for managing inventory availability and avoiding stockouts.
4) Quicker Turnaround Times
An OMS provides retailers with accurate inventory availability reports and the status of orders so they can quickly fill orders without any issues. This insight is derived from the streamlined order management process of routing everything to the correct destination.
5) Simplified Returns
Get more control over your reverse logistics process. Quickly identify which items are returned and the steps you need to take to get them ready to resell. Streamline the returns process and offer self-service returns to empower your customers.
Find the Right OMS
An OMS is a critical tool for any established retail business. It enables retailers to quickly process orders and route them to the appropriate fulfillment location, provide accurate inventory reports, and ensure that the order management process operates efficiently.
Now is the time to start if you’re not already using an OMS. The benefits when using the right order management system are too beneficial to ignore, and they are critical for success in today’s competitive retail landscape.
Fluent Order Management acts as the inventory availability master that can sync inventory data across all your systems (ERP, POS, WMS, etc.) to show stock in near-real time. Schedule a free demo to learn more about the ways implementing an order management system, such as Fluent Order Management, can advance your business to the next level.