Why Order Management is Important and how can you speed up your order management process with Focus Software!
What is Order Management?
An Order Management System (OMS) is an electronic based system developed to execute orders securely in an efficient and cost-effective way. Dealers and Brokers use Order Management Systems while filling orders for various types of securities. You can track the progress of each order throughout the system.
Order Management Process!
OMS keeps track of customers orders and handles the steps involved in fulfilling them.
OMS consists of accepting the order, picking, packing and shipping the items mentioned in order, and taking them until they get delivered.
ORDER MANAGEMENT SYSTEM
STEP 1
CUSTOMER PLACE ORDER
STEP 2
ORDER DETAILS
STEP 3
ORDER PICKING, PACKING AND SHIPPING
STEP 4
CUSTOMER SATISFACTION
STEP 1 CUSTOMER PLACING ORDER
This is the first stage in the order management system. Here customers will place an order with your business and then you will receive and accept the order from the customer. After that payment will be made by the customer.
STEP 2 ORDER DETAILS
This is the second stage in order management system, Here order payment receipt and order details are provided to customers.
STEP 3 ORDER PICKING, PACKING AND SHIPPING
ORDER PICKING here we have to pick an order from the warehouse, specifically what the particular product customer ordered, this is a very important stage while picking a right order from the warehouse.
PACKING here has more responsibility, it’s not just picking an order from the warehouse and packing items and sending them off for shipping. They are also incharge of using the right packing materials for each product so that it can reach the customers in good condition.
SHIPPING after packing the right order, the next is to ship it. In the shipping station, mainly three tasks are necessary to take care of.
1. Attaching the right label and invoice to the order.
2. Making the order as shipped in all over your sales channel.
3. After shipping, confirmation and order tracking details are sent to the
customer.
HOW ORDER MANAGEMENT SYSTEM IS ESSENTIAL FOR A BUSINESS ?
An organized and well-planned process in order management can do wonders for a business’s cash flow and inventory. It can save time and money, it gives info about how well your business is running in different regions and helps you forecast your business stats. Let’s take a look at each of these reasons.
In every order management process itself is made up of several individuals that need to coordinate with each other from start to finish. It gives an idea whether different parts of your business are working together or not. So that you can deliver orders quickly, accurately and efficiently with minimal changes of errors.
It also helps you to predict the level of your demand you will receive. It avoids overstocking and understocking, this keeps you ready to sell customers that product they want, when they want them.
Everything from accepting orders and keeping track of them to fulfilling them and taking care of the after-sale activities.
Conclusion
Having a defined order management system in place improves your customer satisfaction. It’s the crucial part of warehouse processes and it improves the essence of how your customers place the order and receive them.
As your business increases its productivity and handles loads of customer orders, manual order management becomes challenging.
No need to worry ABSOLIN got your back!
Enjoy seamless order management features with ABSOLIN’s ERP Management Software.
“ABSOLIN offers the best ERP software in India that can help you streamline all your fulfilment processes as well as manage the customer orders efficiently.”
Are you ready to decrease downtime and improve productivity?
