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What is order management system (OMS)

OMS allows brands to automate the entire order management process for your business. You can track sales, orders, inventory and fulfilment of each order.

Why is order management important?

It is important to align multiple channels into a single platform to ease the complexity of business processes. Having every facet of business operations managed under one roof will improve customer experience. The smoother and quicker the flow of order processing, the more volume of orders a brand can fulfil, thereby increasing scalability of a company.

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Common challenges faced by SMEs

1. Visibility issues
   Some owners might not be able to locate their order, or identify which stage of the cycle it is at. Thus, management might not be able to have a good understanding of whether orders can be delivered on time or not. This confusion may lead to the other customer's order to delay and will ultimately result in a loss for the company.
   
   
2. Supply chain slowdowns
   

   The pandemic is the perfect example of how global supply chains get afflicted, due to the number of people, regions, and global companies affected - Upends normal operations at every stage of the production line.

3. Streamlining problem of orders
   Some SMEs try to manage their order fulfilling processes manually, which is definitely a challenge as there is larger room for error.

Tips to improve order processing:

Automation

This saves businesses time and money, plus improves the entire customer experience as well. Including automation in shipping functions and other processes largely boosts efficiency as well. Digitize the process in as many areas as possible. This reduces any possibilities of Human-error, wastage of resources and labor, thereby saving you costs.

Shipping:

- With automation, your business would be able to select the cheapest shipping option based on factors like available inventory, destination, package weight and size.
- Automated shipping systems also automatically send customer notifications for tracking and order delivery confirmation - Convenience- Current marketplaces like Lazada, Shopee facilitate such automation.

Other processes:

- An automated system consolidates all orders into 1 single platform, allowing ease of picking & order packing.
- Inventory for all online stores is synced through 1 single platform, reducing the OOS situation and easing operation updates.
- An automated communication channel significantly improves the way information passes through all the necessary employees in the order processing workflow.
- Automation helps trigger task lists for pickers, sorters and packers.
- Processes will be less prone to mishaps, and employee burnout is reduced too. 

Workflow efficiency

Businesses work better when they are in sync. Continuously track workflows to determine where they can be improved, and simplify communication to speed up decision-making, bearing in mind not to sacrifice accuracy. Also, arrange your warehouses such that it promotes better traffic flow. 

Demand forecasting
Analyzing customer profiles along with previous buying trends allows you to estimate future demand and plan more effectively, budget better and set the right order processing goals.

We spoke to experts SELLinALL to discuss in more detail about what order management is like in the real industry. 

About the company:

SELLinALL is a marketplace solution, with our own proprietary in-built cloud-based platform that supports listing, selling, and managing across multiple marketplaces in Singapore, Malaysia, Thailand, Vietnam, Philippines and Indonesia. Users will be able to manage their listing, order & inventory across multiple marketplace platforms through a single dashboard. SELLinALL’s omnichannel platform is also integrated with 3rd party logistics, warehousing, hosted carts and ERP systems for fluid processes to create a seamless customer experience. 

Trustana: Why is stock and order automation important?

SELLinALL: Automation helps to avoid overselling and/or underselling - This prevents penalties in marketplace stores, and there will be more efficient management of inventory across all marketplaces in real time. Additionally, It also increases efficiency and effectiveness in store operations and significantly minimizes human error. With an efficient order management system, we can increase scalability, sales volume and GMV over time.

Trustana: What are the key measures for success in managing inventory?

SELLinALL: With a well managed inventory system, you should be able to view all the data points a company needs. For example: SKU number; its warehouse location; any adjustments of purchase from any marketplaces should all be trackable. You should also have data and reports for better planning in listings and promotions.

There are also additional features to take note of when managing inventories, such as automating for a push notification when stocks are low. Moreover, with a well managed inventory system, you can create reliable demand plans and forecasts for next season’s merchandise plans.

Trustana: What can SELLinALL offer for SMEs looking to scale up their business? How does the platform work to maximise sales?

SELLinALL: SELLinALL’s full suite solution is optimized for revenue growth. Our platform supports inventory sync and eases order management across your website and emarketplace stores. On top of that, our team of experts support operations and growth - Support in product listings, chat enquiries, store decoration, managing campaigns and promotions for your stores, and key factors to sales growth. SELLinALL is also able to support multi-country expansion with our own team in each country.

Trustana: Do you provide any sales offering?

SELLinALL: We can have a special arrangement and offer a lower commission fee for the first 2 months.

For more information or if there are any queries, feel free to contact Trustana and SELLinALL.

References:

1. https://www.dsdinc.com/2017/04/18/why-is-inventory-management-important/ 

2. https://www.solvoyo.com/blogs/retail/retail-supply-chain-challenges-2022-and-tips-to-overcome/

3. https://www.unleashedsoftware.com/inventory-management-guide 

4. https://www.hakunamatatatech.com/our-resources/blog/inventory-management-most-common-challenges-and-solution-to-overcome-in-2022/ 

5. https://www.gep.com/blog/technology/4-challenges-in-inventory-management-and-how-to-resolve-them 

6. https://www.unleashedsoftware.com/inventory-management-guide 

7. https://www.solvoyo.com/blogs/retail/retail-supply-chain-challenges-2022-and-tips-to-overcome/