Omni-channel Retail – Change the rules of the game with holistic order management solutions
Retail industry is undergoing rapid transformation with digitization and today Omni-channel is no more an upcoming trend, but the new norm in the industry. Today, customers expect to interact with businesses anywhere, anytime. Customer experience is now turning to be the key brand differentiator for businesses.
Enterprise retailers are struggling to manage the complexities of their growing multi-channel operations. Many currently operate with less effective order management and fulfillment systems which turn out to be a major stumbling block for delivering seamless customer experience.
In order to address these challenges, Order Management Systems (OMS) are becoming Omni-channel sales platforms whether it’s in-store, on the phone, via mobile or online.
Rather than simply moving orders to legacy systems, OMS can now orchestrate order fulfillment scenarios that allow customers to receive items more quickly and wherever they choose.
Changing Role of Order Management System (OMS)
New age digital customers expect a wide range of order fulfillment options – buy online and pick-up in store, buy from home and pick up in store and so on.
A few of the OMS features that can help transform processes for businesses and enable seamless customer experience are listed below:
- Real-time information flow
Real-time inventory publishing and order status across channels can help e-businesses to provide accurate information about their purchases thereby avoiding unnecessary hassles and ensure more satisfied customers.
- Holistic OMS – Best Customer Service tool
A well-orchestrated OMS can be the best customer service tool. Since OMS has visibility into the entire life cycle of an order, it can effectively provide 360 degrees customer service.
- Order Processing and Fulfillment
Unified order processing across channels, flexible fulfillment and order orchestration rules can enhance the process for the customer and thereby lead to greater satisfaction.
- Partner / Vendor On-boarding
Over the next few years, the outsourcing of business units in supply chain management is expected to rise; an OMS should help in quick onboarding of such vendors by offering order and fulfillment workflows.
- API for every channel
A modern OMS also acts as the single source for inventory, price, discount and product information with an open API built from the ground up to integrate with any business model. This is an enabler for faster time to market.
A holistic order management system needs to have the best of breed order fulfillment capabilities, order processing and real-time view of the systems across any stage of the order, reverse logistics and order orchestration capabilities. ValueLabs’ VeOrderManager is an exclusive Oracle Cloud enabled solution in this area and can be leveraged by retailers to enhance their market position.