Retailers are recognising or indeed have already recognised that the game has changed in winning and keeping customers. Fulfilment has become the battleground for competitive advantage with retailers competing with each other over latest order cut-off, same day delivery, one hour delivery slots and click and collect within the hour. However, offering them and completing them, profitably, are two separate things.
It is no longer a case that retailers can use guesswork, spreadsheets or a patchwork of systems to give them a single view of available inventory, in real-time. It needs to be more scientific to satisfy customers who just want their purchases at their quickest and easiest convenience. But also, retailers want to satisfy customers, so they spend more but ensure they are fulfilling these commitments profitably to the business and not eroding their margins.
This is what a smart order management can provide retailers. It takes the guesswork out of fulfilment and turns a single, real-time view of multichannel inventory into fast, profit-driven stock decisions.
Any product in stock anywhere within the network now needs to be available for delivery to any channel. That requires more than just a single view of inventory – it demands total control. An order management solution provides a rules-based engine which can be programmed to make the right fulfilment decisions every time, using the real-time status of stock. Organisations gain visibility into every detail of an order and can manage changes, returns and exchanges in the most effective way for their business.
For more thoughts around the science behind retail, please see the science lab: www.manh.co.uk/science