Buying Behavioural changes are blurring the line between in-store and online shopping.
Customer search online, check prices on a marketplace, stroll through your aisle in-store, place an order through endless aisle, pay on their mobile and pick up from another store nearby their home.
Retailers need to have the capabilities to meet the expectations of new customers.
That’s where Omnichannel Order Management System comes into picture.
OMS integrates your stores, ecommerce and customer experience all together to give a unifed customer experience
What is an Order Management System?
OMS is a solution that automates all processes from Store to customer door, for example order receiving, routing, fulfiling, tracking, notifying, returning and collection.
OMS actually brings all retail channels together and allows retailers to connect with their customers exactly where they want to buy and when they want to buy – online or in-store
Why OMS is important for business?
50% consumers won’t buy from a retailer if they get a poor experience.
The most vital system to acquire and retain customers today is deployment of an omnichannel order management system.
It is critical as an omnichannel customer has 30% higher lifetime value as compared to a single channel shopper (Google)
Pain points solved by OMS?
Customer pains:
- Cancel an order shortly after placing it
- Get item replaced from an alternative location if local-store is out of stock for that item
- “Buy online, pickup in store”
- Buy Online, return in store”
- Endless Aisle – virtual inventory
- Visibility into their orders when in transit
- Full support across order lifecycle
Retailers pains:
- Build company of future
- expand into new channels like marketplace, international, virtual stores etc.
- Scale up quickly
- Realtime and on demand order processing
- Flagging Fraud orders
- Provide personalized experience
- Prevent customer service agents to sing into multiple systems like POS, CRM, ERP, SCM to locate and service customer
- Reduce support calls to agents
- Simplify communication between backend and frontend
Benefits of OMS
- Control your customer experience and convert them into lifetime customers
- Reduce fulfilment cost through unified inventory and intelligent delivery and routing solution
- Increased visibility of your order from receiving to fulfilment and return.
- Optimize inventory management by identifying where the item is available in realtime to fulfil an order
Must have features of OMS
- Order aggregation from multiple channels
- Global visibility of the inventory across channels
- Full order lifecycle management from time the order is placed to the time of customer appeasement.
- Omnichannel fulfilment orchestration
- Customer service system
- Intelligent Delivery Management System
- Smart Dashboard for different teams like Finance, IT, Sales, Purchase and Management
Add your thoughts to the above insights at sachin@mitigoconsulting.com on how an OMS can help a retailer grow and scale up faster.
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