Your business may use various channels to collect orders from clients. To name a few, it could be online through your website, via e-mail, or over the telephone. Regardless of the method, it is highly recommended that you employ an Order Management System (OMS). This will allow you to consolidate, manage and track all orders in one centralized place.
In your research for an OMS, outlined below are the 5 must-have features:
The software you choose must have the ability to sync orders with your inventory. Doing so will update your inventory as soon as an order is recorded in the system. Utilizing barcode and RFID technology is another way to seamlessly integrate the two. Ultimately, you can provide customers the most up-to-date information on your stock levels.
Selling fast is great for your business! However, chances of backordering will also increase, meaning you might get orders for items you don’t have enough in stock. But if your system syncs orders and inventory, you can manage backorders easily. Knowing the stock levels on hand and allocated inventory, you can gauge the effect of potential orders and prepare your business accordingly.
If you directly control inventory for your customers, use an Order Management System that gives them the ability to automate their replenishment. In fact, let them set min, max and re-order points based on their needs. The OMS will create purchase orders for appropriate quantities at the right time. As a result, your clients will always be happy and so will be your bottom line!
A good system will help in streamlining your order management but an efficient system will go a step further. It will allow you to complement the organisation’s reverse logistics. As a business, you have to deal with returns, repairs, or even disposals at times. Thus, another must-have feature for an OMS is its capability of managing your reverse orders. You should be able to create and track them easily.
At first glance, it may not seem like a necessary feature. However, with the increasing competition, you may have to do business on-the-go. Choose a system that is no less. You will know your system is efficient if you can create and process orders using your mobile phone.
In conclusion, your order management system should provide you the visibility you need in your supply chain. Having all this information at your fingertips will allow you to streamline operations and manage your business better. Interesting in learning more about an OMS that can do it all? Click here.