Maximizing Efficiency: How Order Management Solutions Can Save You Time and Money

Maximize Efficiency and Minimize Costs

What is an OMS system?

What are the 5 best practices of order management?

Key Features

Tips for Choosing an OMS

As businesses strive to stay competitive in today’s fast-paced world, implementing tools to improve efficiency is essential. One area where businesses can significantly make strides is through order management. Fortunately, order management software can help businesses automate their order management processes, reduce errors, and save time and money. Here, we’ll explore how order management software can help businesses maximize efficiency and minimize costs. We’ll also cover the key features and benefits and show you why you’ll want to get started with SOS Inventory.

What is an OMS system?

An Order Management System (OMS) is a software platform designed to manage the entire order fulfillment process from the time the order is received through delivery to customer and often for processing returns. An OMS system typically comes with a range of features such as inventory management, order entry, order processing, order tracking, and reporting. By integrating all these functions into a single system, OMS systems provide businesses with greater visibility into their order management process. This visibility enables businesses to optimize workflows, reduce errors, and ultimately improve customer satisfaction.

SOS Inventory takes these functions even further by integrating with other areas of your business. For instance, if you manufacture goods, you can remove a finished good from inventory to fill an order, trigger production, or initiate a purchase order.

An OMS system can help businesses maximize efficiency and minimize costs in several ways:

A. Streamlining workflows: An OMS system automates many of the order management processes i.e., order entry, processing, and tracking. By streamlining these workflows, businesses can reduce errors and save time, resulting in greater efficiency and lower costs.

B. Real-time inventory management: An OMS system provides real-time visibility into inventory levels, enabling businesses to avoid stockouts, overstocks, and backorders. This reduces the risk of lost sales, excess inventory costs, and fulfillment delays.

C. Order tracking and reporting: Order management solutions enable businesses to track orders from start to finish, providing real-time updates to customers and reducing the need for manual intervention. Additionally, they provide detailed reporting and analytics, allowing businesses to identify trends, spot inefficiencies, and optimize their order management process.

D. Centralizing data: By centralizing order management data, businesses can avoid data silos and improve collaboration across departments. This streamlines communication and reduces the risk of errors or delays caused by miscommunications.

E. Integration with other systems: While most order management solutions require additional integrations to enable ERP functionality, SOS Inventory provides manufacturing, finance, and inventory functionality for complete backend operations control.

What are the 5 best practices of order management?

1. Automate processes: Automation removes the possibility of human errors where it commonly occurs such as order entry, order processing, and inventory management.

2. Maintain accurate inventory: Accurate inventory management is essential for effective order management. Use real-time inventory tracking to avoid stockouts, overstocks, and backorders. Additionally, implementing a first-in, first-out (FIFO) system can help prevent product spoilage or expiration.

3. Prioritize customer service: Providing excellent customer service is essential for building customer loyalty and repeat business. Respond to inquiries promptly, provide tracking information, and resolve issues quickly to ensure customer satisfaction.

4. Optimize order fulfillment: Optimize your order fulfillment process by setting up efficient workflows. This can include grouping similar orders, using appropriate packing materials, and choosing the most cost-effective shipping method.

5. Analyze and improve: Continuously analyze your order management data to identify areas for improvement. Use this data to optimize your processes, reduce costs, and increase customer satisfaction. Regularly review and refine your order management strategies to stay ahead of the competition.

SOS Inventory provides many different types of sales reports to review the variables that matter most to your business. Use our templates or customize them to the parameters you want.

Order Management Solutions – Key Features of SOS Inventory

Tips for Choosing an OMS

1. Define your requirements: Before selecting an order management solution, know what your pain points are. Consider your business size, the number of orders you process, the complexity of your fulfillment process, and any integrations with other business systems you may need. This will help you to check off boxes as you compare platforms.
2. Evaluate ease of use: It should be easy to use, navigate and implement. Look for a system that has an intuitive user interface, customizable dashboards, and easy-to-understand reports. A system that is difficult to use can lead to employee frustration and errors. While most systems can take months to set up, you can be up and ready to run in just a few short weeks with SOS.
3. Consider scalability: As your business grows, so will your order management needs. Choose an OMS system that is scalable and can adapt to your changing business requirements. Look for a system that can handle high order volumes, multiple sales channels, and new integrations.
4. Look for automation features: An OMS system should automate many of the order management processes, reducing the need for manual intervention. Look for features such as automatic order routing, order tracking, and real-time inventory updates. Automation can help you save time, reduce errors, and improve efficiency.
5. Assess support and training: Choose a company that provides excellent support and training. Look for a vendor that offers comprehensive onboarding and training materials, including online resources and documentation. Additionally, look for a vendor that provides responsive and knowledgeable support, including email, phone, and chat support options.

We are particularly proud of our stellar support here at SOS Inventory and offer several different ways to get started so you can choose which best suits your business.

If you have self-starters, the DIY set up process may be just what you need. We offer free customer training and can answer your questions on the spot.

If you need more help, we also offer guided implementation.

Have more questions about how our order management solutions can work for your business? Give us a call today.