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What is an Order Management System (OMS)?
An order management system (OMS) is the back-bone of a progressive multichannel retail business. Summarizing, an OMS manages the coordinates the systems processing customer orders, designate them to be fulfilled and shipped, record status from end to end, and ensure real-time information across all systems and for all the people that require it.
With online shopping and smartphones becoming the predominant mode of shopping and information abundance bringing true price transparency, today’s shoppers have taken the perquisite to compare, review and buy products on the move. This advantage becomes even more apparent during holiday season such as Black Friday and Cyber Monday, where customers hunt from a plethora of deals. True price clarity that is a corollary of the information explosion
The pressure to sell through multiple channels is immense. From Amazon Marketplace to brick-and-mortar stores, and from catalog orders to eBay, consumers are driving commerce across more channels and platforms than ever. And customers care. Aberdeen Group Inc. claims that companies with the strongest omnichannel customer engagement strategies retain an average of 89% of their customers, as compared to 33% for companies with weak omnichannel strategies. Macy’s reports that omnichannel shoppers are 8X more valuable than those who shop in a single channel.
Enter the modern Order Management System (OMS)
Unlike traditional inventory management software, the modern OMS is designed with the end-customers’ experiences in mind. An OMS generates a holistic, centralized, 360 degree view of customer orders and available inventory across all sales channels (stores, marketplaces, ecommerce storefront, distributors), fulfillment centers and customer service channels.
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