![]() ![]() That is why it is so important to have your stock always moving through your warehouses and avoid overstocking. So if you can’t stay in stock, and the delivery time starts to exceed 3-5 lead time maximum, your customer could end up shopping elsewhere. Since Amazon has introduced Prime shipping, customers expect have become used to very fast shipping. Now if you are a world-famous brand such as Apple, then your customers may not mind joining a waiting list for a new product.īut for most brands, a long delivery time or out-of-stock products can really turn off a customer. On the other side of the coin, not having enough stock can leave your customers waiting. On top of this, there could be a risk of the stock going out of date or becoming unfashionable. If you have too much stock, the storage fees can become unmanageable. ![]() Inventory is the most expensive part of an eCommerce business. Help To Ensure You Have Just the Right Amount of Stock Let’s have a look at how a good order management process will improve your business. Having efficient processes and Standard Operating Procedures (SOPs) are particularly valuable if you decide to sell your business one day, as many investors are looking for businesses that are easy to manage, as well as have good profitability. On top of this, a top-quality order management process will save your business time and money, and make it more efficient. It is difficult to manage all this effectively without a solid order management process in place. This is especially true if you have a complicated supply chain involving multiple manufacturers from various countries, multiple warehouses and SKUs, and a global customer base. Related Read: Ecommerce Warehouse Process: Turn It Into A Competitive Advantage Why Is Order Management Important?Īccurate order management is vital for your business, as it can affect every part of your supply chain and, most importantly, your customer lifecycle. This is why growing eCommerce businesses use Order Management Systems. On top of this, making mistakes can damage the reputation of your business. But once you start having multiple orders from different sources, it can become a full-time job just to keep your stock levels up to date. This worked great when I had one or two sales a day. I would then manually package up the products and send the parcel to the customer through Royal Mail. When I started selling online, I used a spreadsheet to track my orders from Shopify and Amazon and update my stock levels. The number of different steps in your order management process depends on the size and complexity of your business. Inventory checking and inventory management.This sounds simple, but there are a lot of steps involved and a lot of space for mistakes to be made. Order management is the process of a customer placing an order and receiving the products. In this article, I will break down all the steps in the process so you can remove any friction and give your customers an amazing experience. Without a process in place, managing your orders will eventually become impossible. That is a lot of potentially unhappy customers. Yet, for many retail businesses, the stock levels are accurate only 63% of the time! You don’t want customers purchasing a product that later turns out to be out of stock. Managing your orders across different channels can be quite complicated, especially when it comes to making sure your stock levels are accurate. This is relatively straightforward when you only have a few products, but what happens when you start selling through multiple channels? ![]() On top of this, you probably want to be able to track the order and request customer feedback too. Once the product is picked, packed, and sent to the customer, the inventory needs to be updated and the customer needs to be contacted. But this is just the start of your relationship with the customer. In ecommerce, we focus a lot of resources on attracting customers to our online stores and getting them to purchase our products. Expert ecommerce advice - straight to your inbox! ![]()
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