COVID-19 has taken businesses by surprise and impacted every single industry. However, we’ve seen that having an order management system (OMS) has given some companies a leg up in avoiding supply chain disruption and continuing to run smoothly during this crisis.
Surviving the COVID Crisis and Overcoming Supply Chain Disruptions
The most critical takeaway businesses are learning is that the ability to adapt during unprecedented times is key. Many companies without an OM system are experiencing challenges such as loss of revenue, negative customer experience, loss of customers to the competition, and margin erosion due to COVID-19. These companies are unable to pivot and adjust to this “new normal” due to a lack of direction and adaptable technology.
In contrast, many businesses that had an integrated OM system before the pandemic are seeing an uptick in areas such as fulfillment, inventory, availability to promise, tracking, customer service, and optimization. An OM system can provide your business with complete global inventory visibility, whether the product is on-hand, in fulfillment centers, distribution centers, in-store, with a third-party logistics provider, or en route to your company.
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Not only can an OM system build trust through delivery, but it also builds trust by proactively tracking and monitoring consumer orders and notifying your customer if there is a delay or disruption in the process. Your OM system will also provide your customer service agents all the tools and resources needed to further communicate with the consumer on resolving the issue, completing the seamless commerce experience.
Businesses That Are Thriving with OM Capabilities
A vital example of a company flourishing amidst COVID-19, Walmart has adapted by expanding its fulfillment methods through curbside pickup and buy-online-pick-up-in-store options. By remaining transparent with its inventory and available to promise (ATP), Walmart has seen its sales skyrocket during this pandemic. The Walmart Grocery App is now #1 across US shopping apps, and the company has seen a 74% growth in ecommerce because of the flexibility in its technology.
Target was able to reach its customers by emphasizing the knowledge, visibility, and optimization of global inventory and fulfillment methods to enable same-day delivery or curbside pickup. Target’s ability to optimize various marketplaces and distribution methods for a product reassure consumers that Target will deliver on its promise, thus building trust and loyalty.
Commerce Will Continue to Evolve
Those who adapt via their technology will continue to thrive in the commerce world and be able to keep reaching customers where, when, and how they want to shop. With various techniques to expand omnichannel experiences and fulfillment options, coupled with the ability to strategically deliver these orders, we will see that businesses can continue to evolve and remain a significant commerce option for consumers post-pandemic.
Contact our experts for more information on order management systems and commerce capabilities.