Increase Return on Your OMS Investment with Omnichannel Automation
In our last post, we took a closer look at how an integrated order management system (OMS) works across a variety of channels. While OMS can help you better manage e-commerce growth, it can also spark innovation and positive change across your business. You might have implemented an OMS to help better manage your supply chain but there are significant upsides to the transition that can transform your business. We’ve outlined below three anticipated business innovations due to OMS:
Innovation 1: Effortless Order Management Allows You to Expand Business
Today's consumer marketplace is shifting more towards direct-to-consumer orders. Using an OMS to automate the manual steps of order fulfillment will enable you to support each customer type, regardless of the channel.
The use of an OMS to quickly and accurately fill orders, debit inventory, and order new products can enable your organization to incorporate consumer-focused business ventures into your supply chain. NikeID, for example, is a service on Nike.com that allows customers to design their own bags and sneakers. These customized products leverage OMS to enable shipping directly from Nike to the customer.
Finally, OMS allows you to easily consolidate order data from trading partners and consumers, providing the support you need to introduce new SKUs, customize products and meet customer demand.
Innovation 2: Data Insight Will Help You Better Understand Trends and Demands
When you integrate OMS into your supply chain, each transaction yields critical data, including total order volume by channel, region, and SKU. This will allow you to understand trends and consumer demand more clearly so you can better manage your supply chain and effectively serve individual customers. The best manufacturers use data to develop a complete view of their business needs, including the demand for individual products. When you take each transaction and turn it into actionable insight, your business will be able to both grow and innovate.
Crane, the humidifier manufacturer mentioned earlier in this series, is one business that has innovated far beyond their expectations. Initially, much of their business was handled manually, but over time they were able to slowly ramp up the use of EDI and e-commerce throughout their business. Adopting OMS has improved their relationship with trading partners by ensuring that inventory is available to meet increasing demand. Thanks to an integrated omnichannel OMS, Crane has complete visibility of their inventory of more than 100 products with 400 trading partners worldwide.
Now, Crane seamlessly exchanges data with their trading partners through an EDI solution and an OMS integrated with their 3PL. The built-in demand forecasting module analyzes sales from previous years and forecasts trends for upcoming automated inventory replenishment. The processes and capabilities of the system close the loops on order management and grant Crane the transaction capacity of a much larger organization.
Innovation 3: You Will Evolve Your Brand Value
As you embrace OMS, you will begin to develop a better perspective of your value as a company, ensuring that you're positioned to make informed decisions to help your business advance. An integrated OMS will help you uncover the expertise and niches that can differentiate your business in a crowded market.
With a direct connection to the customers who purchase your products, along with stronger wholesale trading partnerships, you’ll be able to learn what other services or operational changes will support the long-term growth of your brand.
For most companies, growth comes from a unique combination of products and services that add more value and that build brand loyalty. For example, premium brands like Miele appliances can leverage order data to offer full installation and maintenance services in areas of high customer concentration. Consumer brands like HP can leverage an integrated OMS to manage their Instant Ink automated ink replenishment program for owners of their printers.
The strategic growth of your business depends on capturing, combining and utilizing data from all aspects of your operation. An integrated OMS offers one of the best first steps to gaining valuable insight into improving business performance while laying the foundation for future growth.