How Omnichannel Order Management Can Help Streamline Your Order Processing
The e-commerce landscape today has gotten ridiculously competitive. As there are no barriers to entry, new brands keep cropping up every day. Of course, the total addressable market has expanded considerably. But there are still more brands than you would ever have the time to look at.
So, what then is the solution?
You need to have an omnichannel strategy. It pertains to managing orders from multiple sales channels like marketplaces, social media, your own website, as well as any retail outlet that you may have. You’ll be able to access it all from a centralised platform.
By integrating omnichannel order management solutions, you can provide a seamless shopping experience for all your customers, no matter which source they come from. These platforms can also provide real-time inventory updates, automate order processing workflows, and provide valuable data insights into customer behaviour.
Keep reading to find out more about why you should use omni order management.
Benefits of omnichannel order management systems
- Centralised order management
One of the primary benefits of omnichannel order management solutions is that they provide a centralised platform for managing orders from multiple sales channels.
With a centralised system, you can manage orders from multiple channels in one place, reducing errors and improving efficiency. For example, if a customer places an order online and then decides to pick it up in-store, the centralised system can update the order status in real time, ensuring that the correct items are available for pickup.
This is especially beneficial if you have complex sales and distribution networks. By having a single view of all orders, you can optimise your order processing workflows and reduce the risk of errors caused by manual data entry.
Apart from that, you can use centralised order management to track inventory levels across channels, ensuring that you always have the right products in stock. - Real-time inventory updates
Another benefit of omnichannel order management solutions is that they provide real-time inventory updates across sales channels. With real-time inventory updates, you can avoid stock outs and reduce overstocking.
Real-time inventory updates are especially beneficial for high inventory turnover and frequent order volume fluctuations. By tracking inventory levels in real time, businesses can quickly identify trends and adjust their inventory levels accordingly. This can help businesses avoid stock outs during peak periods and reduce overstocking during slower periods, improving their bottom line.
Suppose one of your products becomes very popular. You start getting multiple orders for that product every day, and soon it goes out of stock. But, because you forget to update the inventory on your social media platform, you still receive about 10 more orders for that product.
Now, you either have to risk dissatisfying the customers by cancelling their orders or asking them to wait till you restock the product. Bit of a catch-22 situation, isn’t it?
These problems can be solved instantly by using an automated system. - Faster order fulfilment
Omnichannel order management allows you to fulfil orders faster by automating and optimising your order processing workflows. By streamlining manual tasks such as data entry and order tracking, you can improve order accuracy and reduce the time to process orders.
For example, if you have an online retail brand, you can use order management software to automatically route orders to the nearest warehouse for fulfilment, reducing shipping times and improving the customer experience. You can also optimise your order processing workflows, such as batching orders for more efficient picking and packing.
This is ideal for any business that is looking to go the extra mile for your customers. After all, anything after Amazon’s one day rush seems like a consolation prize. By reducing the time to fulfil orders, you can ensure that your customers are happy and they keep coming back. - Improved customer experience
It improves the customer experience by providing accurate order tracking information and flexible delivery options. You can provide customers with real-time order status updates, enabling them to track their orders from placement to delivery.
If you were running a brick-and-mortar store, you could easily interact with your customers, strike up conversations and help them find exactly what they are looking for. With e-commerce, your options are limited. But offering your customers extra flexibility and a smooth journey can definitely help.
You can use omnichannel order management solutions to offer same-day or next-day delivery options and easy returns, providing customers with more flexible delivery options. This can go a long way to build customer loyalty. - Data-driven insights
Finally, omnichannel order management solutions can provide valuable data and insights related to order trends and customer behaviour. By tracking sales and order data across channels, you can gain a better understanding of customers’ behaviour and preferences.
For example, you can use the software to analyse customer data like purchase history and shopping patterns. You can identify trends and make informed decisions about inventory management and marketing strategies. You can also track sales performance across channels to optimise your operations and improve the bottom line.
Data-driven insights are the key to improving your bottom line and staying competitive in this ever-changing landscape.
Conclusion
Omnichannel order management solutions are essential if you want to scale your e-commerce business. But don’t just jump before looking, for it can be difficult to manage on your own. Using a full-service platform like Ordazzle can help you provide a seamless shopping experience across channels. It can help you realise the true potential of your e-commerce brand.