Among all such businesses, the retail industry is by far the most profitable and successful one that has seen consistent growth in the last few years and is poised for more success. In this industry, apparel & fashion, luxury goods, jewelry, sporting goods, footwear, books & periodicals, consumer goods, beauty & healthcare are some of the segments that are experiencing demand from both types of customers – shoppers in the store as well as online customers.
Retailer are pursuing an omni-channel strategy
This is the reason why retailers are practicing an omni-channel strategy. They are re-furbishing their stores, making displays more attractive, engaging shoppers with trained staff, curating their stocks and offering complete product assortments.
At the same time, they are also investing on their online business – improving their ecommerce website, optimizing the checkout process, displaying shipping costs, offering different payment options, creating a blog, running email marketing campaigns, doing automation of simple tasks, gathering analytics and implementing an OMS (order management system) with the help of a hire Magento developer.
This approach is working well for retailers who operate physical stores as well cater to online customers.
What is an order management system?
An order management system is a platform used by online retail businesses to track sales, orders, inventory, and fulfillment. It connects all stakeholders in the retail value chain right from the time of order booking to till the delivery of goods.
Why is an order management system necessary?
Such a system has become necessary because of changes that are happening in customer expectations and product demands. Digitally-connected customers are today driving the buying journey and making merchants adjust quickly, so that they are able to deliver a seamless customer experience.
Retailers hire Magento developer to implement an order management system. The reason is that such a system is much more than just a method of traditional order management. It provides additional capabilities such as seamless order tracking, customer service, and omni-channel functionality – all of which are needed to meet the growing demands and expectations of customers.
Are there any benefits of an order management system?
Magento has an order management system that helps small and mid-sized businesses create seamless cross-channel experiences cutting across multiple brands, sites, stores, warehouses, etc.
It delivers an excellent omni-channel shopping experience to customers. The gap between the physical and digital shopping worlds is reduced and customers have a seamless experience while traversing the journey from warehouses to stores to websites. Hiccups, glitches and interruptions in service are removed and in its place customers experience a smooth, flawless process flow across all touch points.
Benefits of Magento order management system
To enjoy the benefits of Magento order management system, online retailers need to hire a Magento developer who has hands-on experience in understanding business requirements and implementing a customized solution in a time bound manner. Numerous benefits can be realized from such a system:
(i) Customer service becomes centralized
Magento’s order management system combined with its centralized customer service ensures that all customer and order information is centralized and kept in one location and not in silos. This ensures that customers are always kept informed about the status of their orders across all sales channels and fulfillment centers and can quickly be informed, if they have any inquiries related to shipping, delivery, or cancellations.
This is a tangible benefit as customers always want to be informed about the status through email updates, tracking information and delivery status alerts. They don’t need to phone a call-center to get an update and therefore this system brings more transparency in the shipping and delivery process.
(ii) Store fulfillment has multiple touch points
Magento’s biggest benefit is the numerous flexible options that it offers when it comes to fulfillment. The customer has the freedom to order from a global inventory and to seek delivery at any place, based on the choice of the customer. Customers can:
a) Order same-day shipping.
b) Buy online/pickup in-store (BOPIS).
c) Order delivery using a mode and a date & time that suits them.
With so much choice and flexibility in the channel of delivery, level of customer satisfaction increases. Each touch point in the journey offers online retailers an opportunity to provide great customer experience and boost retention and revenue.
(iii) Inventory is global
Retailers who hire Magento developer are quickly able to implement an order management system. This enables them to display a global inventory to their customers. Customers have the option to pick and choose an item and select the manner of fulfillment. That’s because they are able to view in real-time information on where products are available for purchase. Retailers are able to determine the fastest and most cost-effective way to get their products to their customers.
Retailers managing multiple channels are able to further optimize the system to suit their needs. As they have a more granular control of their inventory, they are able to specify which SKUs and in what quantities would be sold on which channel. This enables them prioritize the channels and align them with the demand. Such a scenario is visible on days when there are major holidays such as Black Friday, Easter, Valentine’s Day and Christmas.
Getting your order management system up and running
From the above, you can see that there are numerous benefits of Magento’s order management system, irrespective of the fact whether you are a small, or a mid-sized retailer. Even if you are small, you can keep up with the platform. As your business grows, you can hire Magento developer who can add customizations and extensions to make the order management system work as per your needs.
If you operate in different countries, and have several stores, warehouses, sales channels and websites, then it makes perfect sense to have an order management system. With such a system, you’ll be able to manage and supervise all the different platforms for different countries together and in one place.