Distributed Order Management System:What Retailers Need For Growth in Nigeria
Over the course of a decade in Nigeria and Africa at large, most retailers both online and offline have had their own fair share of distribution and management system.
In past few years, DOM (Distributed Order Management) system has surpassed from a new invention to a trending tool and at the moment it has transcended into a necessity.
Retailers need to leverage the features offered by DOM (Distributed Order Management) to deliver a seamless customer experience throughout their sales channels.
Aegis Soft Tech E-commerce development company is providing DOM solutions to many retail industry’s clients, which further assist in making their businesses grow exponentially.
One must be aware of the DOM, the distributed order management is a dynamic change and it can be little hard for merchants to make required changes in their processes if they are still using traditional order management system.
Let’s learn more about DOM and how it determines the success and development of retail businesses.
So basically the Distributed order management systems are made to arrange retail orders precisely across the multiple systems and it’s processes applied by the departments working for replenishing the order.
systems like this help’s in optimizing the inventory management and supply chains in retail business. This is that middleware, a helpful tool used in omni channel retail businesses.
Are you ready to put messy emails and manual data entry behind you?
The best way to achieve this is to provide a single, global view of all available inventory, to source the line item components of each order with purpose and consideration, ensuring that the business can meet both current and future customer demand while optimizing inventory, logistics, and asset utilization.
This must be done with powerful information systems, to avoid creation of a labour-intensive bottleneck to order fulfillment.
MAJOR CAPABILITIES OF THE DISTRIBUTED ORDER MANAGEMENT SYSTEM (DOM)
What is the distributed order management and how does it fit in with modern retail?
Using a DOM system, you are sure of optimizing your inventory management and supply chains. A distributed order management system works on challenges like these ones below:
- Single data repository for all inventory and all orders from all retail channels and fulfillment centers
- Payment processing and checkout
- Order modification or cancellation
- Synchronizing real time order and product data with sales team and fulfillment centers
- Order processing from multiple sales channels
- Evaluating the optimal fulfillment location on the basis of priorities.
- Routing the order to fulfillment center and regularly updating the inventory details
- Managing back-orders and reservations for pre-release products
DOM helps improve your end user’s experience. Since end user’s experience is the utmost thing to achieve for merchants and will remain so,this means that in the coming future, merchants will be competing on customer experiences.
Traditional order management systems which are used often by many retailers in Africa are essentially configured to link a discrete number of specific plants or warehouses.
This limits inventory visibility and fulfillment flexibility.
Without comprehensive visibility to internal and external inventory locations, including delivery and service requirements, it is nearly impossible to provide the customer an accurate ETA, while maintaining lithe inventory stock levels, or schedule orders for fulfillment from other locations.
You should know that As customers get multiple choices, they have options to shop from their choice of provider or the one who is able to provide better experience.
Price and product will be the secondary things. so human resource and good communication skill is highly required and sort after.
Customer experience excellence can be achieved only with accurate and timely information.
A modern cloud-based DOM system, like Fulfillment, aggregates orders from multiple order capture channels and provides a single source of information and ‘truth’ across these channels.
When they get a single view of entire inventory, they are allowed to optimize fulfillment, distribution, and allocation of order.
This idea will deliver better experience to the end user when they shop with the retailer. Major benefits reaped by the end user’s are namely:
- Get options like “buy online”
- Least stock-out events
- In-store associates can locate out-of-stock items in-store and ship them to a customer’s address
- Speedy and error free deliveries at lowest price
- Precise product availability throughout channels
Such benefits when offered to the customers result in customer retention, referrals, return purchase and boost in sales.
Merchants/retailers need to understand the working of the DOM(Distributed Order Management) system to deliver this type of customer experience and boost the overall ranking and credibility of the company.
Unlike conventional order management system, DOM is more dynamic. It leverages modern technologies that activate agility of the company.
It takes all parties involved in order replenishment process as a part of the organization, even though they are not. DOM solves fulfillment issues commonly found in the processes.
Integrating modern supply chain automation technology with back end systems answers numerous issues, allowing integration with 3PLs capable of managing inventory locations, and streamlining supplier transactions.
Orders can be received from businesses, consumers, or a mix of both, depending on the products. Offers and pricing may be done via catalogs, websites, or [broadcast network] advertisements.
An integrated order management system may encompass these various modules:
- Vendors, purchasing, and receiving
- Marketing (catalogs, promotions, pricing)
- Customers and prospects
- Product information (descriptions, attributes, locations, quantities)
- Inventory available to promise (ATP) and sourcing
- Order entry and customer service (including returns and refunds)
- Financial processing (credit cards, billing, payment on account)
- Order processing (selection, printing, picking, packing, shipping)
In some circumstances, such as equities in the United States, an average price for the aggregate market order can be applied to all of the shares allocated to the individual accounts which participated in the aggregate market order.
In other circumstances, such as Futures or Brazilian markets, each account must be allocated specific prices at which the market order is executed.
Identifying the price that an account received from the aggregate market order is a regulated and scrutinized post-trade process of trade allocation.
There is no more guess work for the status of the orders and this makes communication with customers easier.
ADOPTING DISTRIBUTED ORDER MANAGEMENT(DOM) TECHNOLOGY
When retailers know the significance of the DOM systems, they address various issues, come up with a decision and literally, give up on stress by adopting DOM capabilities.
Today, almost 90% of retailers are working on an upgrade and will start doing it by the beginning of the year 2020.
DOM takes away the stress involved in sales channels and boost growth in the business. Just In case you are still skeptical about considering the capabilities of the Distributed Order Management system now, you must, i mean you have to start doing it now to avoid risk of being left behind by the competition.
DOM SYSTEM IMPLEMENTATION ADVICE
The most critical component involved in a successful implementation of DOM is the requirements collecting effort during the procurement.
The successful SaaS implementation system is the result of considering these three important factors stated below:
- Seeking all the capabilities needed by the business
- Software offers functions as said including performance, uptime, and latency.
- Successful DOM integration with existing commerce technology
In the future, retail distributed order management system software market will emphasize their efforts made for innovating products to attract new customers and maintain relationship with old and loyal customers.
There are several business domains which use DOM Systems for different purposes but the core reasons remain the same:
- TELECOM: To keep track of customers, accounts, credit verification, product delivery, and billing.
- Financial services
- AUTOMOTIVE: To keep track of parts sourced through original equipment manufacturer(OEMs).
- RETAIL: Large retail companies use DOM systems to keep track of orders from customers, stock level maintenance, packaging and shipping and to synchronize orders across various channels such as e.g. if the customer order’s online and comes to the store for pick up.
- Pharmaceuticals and healthcare
The Distributed Order Management system requires multiple steps in a sequential process like Capture, Validation, Fraud Check, Payment Authorization, Sourcing, Backorder management, Pick, pack, ship and associated with customer communications. if this article has been helpful kindly leave a comment below thank you very much for reading through.