Discovering Why Collaborative Order Management Is Required for Business Success
How confident are you in your ability to deliver every order on time, every time? Approximately 69% of consumers say they are less likely to shop with a retailer again if an item purchased is not delivered within two days of the date promised, according to a study published online. The question likely to arise in this scenario: Why not get another customer since one is gone? The answer is not that simple. You may have to spend a lot more to acquire a new customer than to retain an old one.
In the current scenario of lockdowns and COVID-19, most businesses were facing a lot of challenges, even as more and more customer chose to browse and purchase online. Order delays and lack of omnichannel capabilities were on the rise, leading to customer dissatisfaction. In order to counter this, inventory, purchasing, and fulfilment systems had to work together closely. This, further enhanced the need for a seamless collaborative order management across the sales channels.?
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Increased efficiency is directly equal to increased sales and return on investments. Here, we attempt to show you how collaborative order management helps to streamline the order management process and also indirectly increase sales.
For your understanding, here is an example of a B2B company that implemented a collaborative order management solution to streamline the entire order processing.?
Statement: Imagine that a confectionary company with an extensive sales and distribution network is striving to keep its leadership position in the market. Across its many countries, the company would require the assistance of a vast network of retailers and distributors.?
Needs: Suppose this seamless communication is disrupted due to problems with sales order tracking or achieving streamlined scalability. Paper-based order creation was also adding to its difficulties, causing a decline in visibility while enabling more errors. It also resulted in lack of efficiency because of the time-consuming processes.
So, the question that requires to be catered are these:
Solution: As a result, the company adopted a collaborative order management solution. Through the app, users can create sales orders from both mobile and web portals. With end-to-end visibility, users can view order history and track orders easily. Stock and collections were updated in real-time. This was a highly visible, efficient and accurate model of sales order management.
It also provides sales reps with a tool that helps them plan their monthly outlet visits. It also gives the sales manager complete visibility into the sales reps' itinerary and locations visited. Through this, high-value customers are prioritized, and such opportunities are targeted. There is also a single interface for sales order related information and processes. The solution was built using SAP Cloud platform, SDK for Android. The app was launched in partnership between SAP and Google.?
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Possible Outcome: Now, below, we have given the possible outcomes of adopting a collaborative order management solution(this can vary across industries and solutions offered).?
This is just an example of how employing a collaborative order management can help a company to streamline their processes. Elimination of paper-based transactions helps to increase Business Impact. Now, here, we will try to examine what exactly is a collaborative order management.?
What Is A Collaborative Order Management??
While B2B businesses face many challenges related to order management, there are solutions that can help them increase their operational efficiency. The Collaborative Order Management by XXX is one such solution. The product enables agile order entry and review. The solution also integrates with the backend SAP ERP and SAP HANA applications, providing real-time order status and inventory information, as well as providing multiple ordering channels, such as Self Service, Mass/Batch, EDI to manage orders. It is used by business analysts to handle the inquiry to cash process within an organization.
SAP ECC or S4 HANA capabilities are leveraged by this high-end solution, which enables seamless collaboration between manufacturers, distributors, wholesalers, retailers, and consumers. It has a unified interface for all sales order processes and information. A positive aspect of the highly interactive user experience is that it allows users to get on board with very little training. Another advantage is that the customized order management system can be used both for B2C and B2B scenarios. The omnichannel platform also allows users to perform order management across channels.
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It is daunting to embark on a Collaborative Order Management Implementation. Don't do it on your own.
An ideal process flow for Order Management is as given below:??
Creation – Enquiry, Quotation & Order > Track – Enquiry, Quotation & Order > Order Scheduling > Demand Management > Allocate Inventory > Pick Confirmation > Shipment > Invoice Generation > Customer Follow-up/Dispute Handling > Payment Settlements > Claims & Returns.?
Imagine what would happen if this scenario was disrupted at any point.?
??????Simplify, Streamline and Integrate Orders to Grow Revenues
Inability to track the order as well as disruption in between any of the stages of the order processing could be the cause for delay in delivery. A late delivery could mean a goodbye or a very disgruntled customer in the B2C world, both of which can hurt your business. This holds true for B2B businesses as well. In fact, they have it much worse. In some B2B companies, order responses must be made within 8 seconds. Now, these are just some scenarios on what could go wrong without a collaborative order management solutions.?
?????????????????Top Issues That B2B and B2C Companies Face?
In the meantime, here are some of the issues that most of these companies, both B2B and B2C, deal with.?
Traditional Order Management Processes - Shortcomings?
A business would be wise to keep tabs on market trends, as this would also enable them to make informed decisions. The company would require complete and timely information about the order and fulfilment processes. However, obtaining these high-level views can be a major challenge. In fact, most leading business intelligence tools only provide a limited view of activities. The sheer complexity of the supply chain partners, stores, channels, distribution channels, and marketplaces makes it difficult to collate and integrate information, even when you manage to break through the barriers. Last but not least, due to the large number of systems and volumes of data involved, it is difficult and time-consuming to conduct timely, meaningful analyses.
Adapting to Collaborative Order Management is like stepping into new territory for some, You can team up with an expert collaborative order management solution provider if you are planning to take your order management fulfilment to the next level.?
Improved order management leads to improved performance across the organization.
Find some best practices of order management to adopt in the meantime
Here are five order management best practices that will save you time, money, and hassle.
Our goal is to make your order management system run smoothly, on demand, everywhere
It is possible to create orders, quotations, etc. using our Collaborative Order Management application. Additionally, it enables tracking of orders, quotes, and inquiries in real time. Multiple systems, workflows, and numerous tasks can all be consolidated into one Inbox with features such as universal search, filters, approvals, and tracking of task progress.
Businesses can now work with a qualified, collaborative team who are passionate about helping them achieve exceptional performance and an optimal return on investment for their project. While the professionals focus on streamlining the order processes, businesses can now focus on their customers and other core business functions.?