<![CDATA[The Omnichannel revolution is obviously roiling the retail sector in many ways, providing enormous opportunities but also an equal number of challenges. ECommerce sales continue to rise rapidly, up 14-16% quarter after quarter according to data from the US Commerce Dept. Many retailers - notably Amazon.com - are seeing their own on-line sales increase at even greater rates than those robust overall levels.
Efficiently and cost-effectively getting a shirt, hat and shoes delivered to a customer in Billings, Mont. when a retailer’s stock spans warehouses from Burlington, Vt. to Bellevue, Wash. and a physical store in Baltimore is no small feat. Yet, for even the smallest retailers, it’s imperative to balance customer expectations with profitability — whether the order is shipped from a warehouse, shipped from a store, drop shipped or picked up in store.
That’s why optimizing order management is a crucial piece of a successful omnichannel strategy. Order management is now an art form. Businesses devote endless hours to improving order management because it is so critical to maintaining margins and keeping customers happy.
Benefits for Retailers
Increased customer satisfaction: Using the closest possible fulfillment centers will get packages to customers faster. And by ensuring ecommerce and in-store channels can be utilized for fulfillment, retailers have an easier time solving customers’ problems.
Decreased labor costs: Reducing the amount of time and labor devoted to making sure the business is optimizing inventory movement will mean significant savings. Staff members previously devoted to order planning can spend time on more value-added tasks to generate additional revenue instead of routing orders. In addition, in-store staff can handle a greater portion of order fulfillment, reducing the load on warehouse employees and optimizing your labor force.
Decreased shipping costs: By optimizing fulfillment by closest location, items included in an order/available inventory and more, retailers can reduce shipping costs. The OMS will always find the cheapest way to get an order to a customer while still meeting their expectations.
Increased sales and margins: Offering shoppers additional delivery options will increase conversions. In-store pick-up, for example, is vital for someone who needs a product right away. Also, safety stock can be dramatically reduced – if not eliminated – with an order management system. Ensuring any order can be fulfilled regardless of channel means safety stock – which can become quite expensive – is no longer necessary. Retailers can keep inventory in retail stores while allowing all channels to sell.
Any omnichannel strategy simply isn’t possible without a functionally rich, reliable order management system. It will help you deliver exceptional customer experiences at a lower, sustainable cost. With inoday team of extensively knowledgeable SuiteCommerce Advanced developers. Deliver extensible re-architecture to previously existing NetSuite eCommerce Application for increased flexibility, elevated performance and good control over development and implementation process. For More http://inoday.com/how-netsuite-can-help-omni-channel-retail-management/