Things to Consider Before Implementing an Order Management System

For those looking to implement an Order Management System (OMS), there are a number of things they should consider and have a full view of and they include: What you can expect How you can track performance How to measure the overall contribution of your OMS The tools needs to measure the success of the OMS But what exactly is an Order Management System? According to Investopedia, an OMS is “an electronic system developed to execute…orders in an efficient and cost-effective manner”. Effectively, it’s a form of automation and enables a warehouse, and other businesses, to run as efficiently and as productively as possible. It also means that less of a workforce is needed to carry out menial tasks that could be done using an OMS. Although the implementation of an OMS could be considered as an investment, it’s a worthwhile one as it could end up saving you much-needed time and money in the long run. The excellent thing about an OMS is that it can be used across a number of different industries and sectors, making it an incredibly versatile addition to your operations. While the aforementioned seems like reason enough to go ahead and have an OMS implemented right away, there are some things you should consider before making the commitment and Refurbished Forklifts are on hand to detail those to you.

What are your business goals?

Every business should have a list of goals that they’re endeavouring to achieve. If you don’t have any solid business goals, then you should take some time out to list them, but make sure they’re both realistic and eventually achievable. Once you have those targets set, you’ll be in a better position to reach them, meaning your company will grow and develop as a result. The next thing you should ask yourself is whether or not an OMS will help you to achieve those business goals or not. If they can be executed without an OMS, then save your company some money, for now, and forego an OMS. If an OMS will help you to meet your goals more efficiently, then you should think seriously about how best to implement one into your business. Pinpoint any benefits and drawbacks of OMS implementation to allow you to determine whether goals can be met even with hurdles in the way. Will an OMS help you to overcome those obstacles or will they hinder you further? It’s important to note, however, that OMS implementation will help you, depending on your operations, with the following: Order processing Content management Company forecasting Purchasing Inventory management Customer services

How can I measure my OMS performance

OMS implementation will ensure that your data is collected and stored in one place, depending on what you’re using it for. With this information, you’ll be able to consolidate and analyse your performance and then put steps in place to optimise it accordingly, if necessary. An OMS is also beneficial as it comes complete with a number of internal and external processes that help you to determine its performance, including the following: Shippers Retail channels Marketing processes E-commerce websites Fraud prevention services E-commerce websites

What are my objectives for an OMS?

Centralised data collected by your OMS will help you to make more informed, quicker and more accurate decisions about your business and the way in which it runs. It gives you real-time information to help drive improvement, whether it be for the short or long-term. With this in mind, there are a number of factors you should consider when setting OMS objectives, including: Current and projected replenishment goals Purchasing behaviours Stock management objectives Marketing campaigns that you’d like to run Any business requirements that should be changed or updated Objectives for business growth and development The needs of the industry

How can I improve customer experience and satisfaction?

An OMS will provide you with the support you need to enhance overall customer experience and satisfaction. If you take the time to optimise the customer’s experience, then you’ll be more likely to benefit from their repeat custom or they could recommend your company to a friend or business partner; widening your client base even further. With OMS implementation, you’ll likely see a reduction in errors being made across the following aspects of your business: Accounting Shipping Delivery Inventory optimisation and inventory Order orchestration Turnaround times will see an improvement, also – ideal for B2C businesses – meaning that more emphasis can be placed on customer relationship management (CRM). An OMS will give a company the opportunity to: Experiment Learn Improve Increase margins Develop the business Deploy improved customer experience

Will I be able to reduce costs & increase profit margins?

OMS implementation will give you the opportunity to increase profit margins and reduce overall costs associated with the business, regardless of the industry you work in. Consolidating the following things will ensure that costs are cut and profits are increased: Financial reconciliation triggers Marketing tools Inventory management Customer service Shipping You’ll also find that returns and refunds made to customers will also reduce which, in turn, will increase your profit margins even further as they’ll be recorded, along with any losses, in real time by your OMS.