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ADVANTAGES OF USING ORDER MANAGEMENT SYSTEM IN OMNICHANNEL RETAIL
Omnichannel retail is gradually garnering recognition from the retailers as it improves the customer experience by offering more channels for a product purchase. It allows retailers to build a modern supply chain to cater to changing customer demands and shopping behavior.
Order management system (OMS) constitutes the core of omnichannel retail as it allows retailers to accept orders from various sources and orchestrate the fulfillment of the order. OMS systems also provide product routes from the most appropriate inventory location. The system offers real-time inventory visibility for retailers as well as customers. Here are some of the benefits of an OMS system for retailers:
Integration with Technology: Many modern OMS systems integrate with other technology tools to enhance the efficiency of omnichannel retail. These systems connect to the entire technology stack to improve the existing infrastructure of a company.
Advanced Features: OMS systems offer various advanced features like shipping rate brokering, fraud deterrence, split payment, return management, and many others. These systems also provide scalability for retailers, allowing them to function efficiently during high traffic also. OMS systems offer order management simulations and offer integration solution for demand planning. OMS systems also deliver features for inventory segmentation and virtualization, which enable retailers to manage their inventory efficiently. These systems enable retailers to consolidate their orders from the inventory to shipping with high efficiency.
Advanced Analytics: data has become the key to success for businesses. The data analytics help businesses to gain many actionable insights into their services and applications. OMS systems provide advanced analytics to the retailers that allow them to gain insight into all the offline and online channels, helping retailers to understand the dynamics of their business.
Easy to Use: Although OMS systems offer various advanced features, it provides a user-friendly interface, enabling retailers to leverage all the features without any hassles. These systems also provide automatic updates and are fully configurable by the systems administrators.