5 Ways a Quality Order Processing Service Will Accelerate Your Ecommerce Business by 50%

Order Processing

With an estimated 2.14 billion online shoppers worldwide in 2021, ecommerce businesses need to keep up with customer demands rapidly. Your order processing service can now make or break your business. The significant impact of order processing services on the acceleration of your business is more than enough incentive to invest in increasing its quality and efficiency.

Streamlining your order processing management ensures a good customer buying experience. A quality order processing service has high ROI and improves your business operations. These are just some of the benefits that uplevel your business, and there are many more ways how order management can help your business.

Things That Improve The Quality Of Your Order Processing Service

Any order placed should be greeted with excellent customer service partnered with efficient and accurate order management and fulfillment processes. You need to constantly improve your processes to keep up with the rapidly changing ecommerce landscape and consumer expectations.

You can take many techniques or steps to improve your order processing management. Though not all strategies may work for you, you just have to choose the one or two that make the most sense for your business.

Below are some of the things that might help:

Process Automation

Order processing management is one of the business processes that you can easily automate through order management systems (OMS). When you use trusted OMS software, automation can be cost-effective in the long run and have an impact on the improvement of your business processes.

Some steps in the order processing management process can be repetitive and easily automated. It reduces the workload of your order processing staff and speeds up order processing and fulfillment.

After-sales Engagement

By building a relationship with a customer, your brand has a greater chance of influencing their purchasing decision. And an after-sales engagement strategy considerably increases your influence on customers to buy your product over another brand.

Thank-you messages and discount offers are the most common after-sales engagement techniques, but surveys, review requests, and strategic emails are far more effective. You’ll just need to tailor the contents of your email to align with your business objectives.

Order Processing Outsourcing

You can level up your business and outrank your competitors by outsourcing order processing services. A team of trained professionals will handle everything from payment processing, shipping, and tracking to return orders. Thus, ensuring fast and flawless service. They understand the value of customers and provide a hassle-free sales experience.

Inventory Management

Excess inventory or shortages can be challenging for businesses when managing orders. Insufficient stock can result in reduced sales or an increase in order backlog, while excessive supply can increase storage costs without creating much value.

Inventory control and demand forecasting prevent instances of having too much or too little stock on hand. Effectively managing inventory takes into account recent purchases, reorder rates, customer satisfaction, and turnover data.

Then, you can analyze customer profiles and past buying trends to forecast future demand accurately and plan the volume of products to store in your warehouse.

5 Ways Order Processing Services Accelerate Your Business

Whether you own a small to midsize business or a large enterprise, you can level up your business through quality order processing management. Proper management of the entire order process can significantly boost your success.

A quality order processing service enhances many aspects of your business, but here are five ways it can accelerate your entire ecommerce business:

1. It helps build a positive reputation

Accuracy is essential in order processing management. Wrong items and addresses, delayed or damaged shipments, or any other mistake in order processing ruin the reputation of your ecommerce business.

Negative experiences with a brand prompt American consumers to tell 15 other people about it; if order processing mistakes happen, that will become negative word-of-mouth marketing for your company. But people share positive experiences with at least 11 other people.

Accurate and high-quality order processing service is an easy way to ensure a positive brand reputation. It will help you get your brand name out there and make it easy for potential new customers to trust and do business with you.

2. It increases customer satisfaction

Customers love receiving updates on when their orders are processed, prepped, shipped, and delivered. You can provide timely and accurate order updates to your customers with top-quality order processing service. When you’re able to provide exceptional order management service, you’ll have happy customers.

Consistent, high-quality order processing service leads to fewer complaints or negative feedback and a better customer experience. It can also increase your chances of retaining customers and establishing a loyal customer base. And high customer satisfaction and retention rates could improve ROI and increase profits by 25% to 95%.

3. It improves business operations

High-quality order processing management makes your day-to-day order processing workflow simpler, faster, and more efficient. Since order processing is a huge part of ecommerce business operations, your entire company will benefit from it when it goes smoothly.

A fully integrated order processing management system increases your efficiency and productivity in handling orders. This means you can reduce the time and capital spent on resolving order-related matters and reallocate the resources to other aspects of your business. 

4. It helps you gain relevant data

Order processing management, especially when automated, collects customer and sales order data that can be useful for analysis. Collecting customer information, like the number of orders, order history, frequent delivery locations, contact information, and more, is also beneficial. You won't have to ask for the data every time they place an order if you collected and saved them the last time.

Analyzing customer order data can give you valuable insights regarding the customer experience and help you make informed business decisions. You can also use order data for demand forecasting, which can help you plan your inventory, predict sales and revenue, and meet customer expectations.

5. It improves supply chain visibility

An organized order management service, especially when using an OMS, can help you keep track of activities throughout your supply chain and, most importantly, monitor inventory levels. Gaining insights from supply chain visibility while reducing disruptions and risks helps you to efficiently manage and optimize your inventory levels to meet customer demands.

Knowing and understanding what’s happening in your supply chain will help you make informed decisions and create well-thought-out strategies to improve sales and margins. Thus, contributing to the success of your ecommerce business.

Conclusion

Accelerating your ecommerce business may take a lot of effort, but one of the easiest ways to do so is through an exceptional order processing management system. As one of the core processes in an ecommerce business, improving it can positively affect the entire business operations.

You can do many things to improve your order processing management, like an OMS upgrade, refining your workflow, hiring experts to oversee the process, or tightening your inventory control. All these improve your order management process, which will impact other aspects of your business and lead to growth.

Having an efficient order management service is shown to have a significant positive impact on your brand reputation and customer satisfaction. With an ecommerce business, how customers view you and their experience with your business is really important. More importantly, it improves your overall operations with relevant customer data and supply chain status.

How to Make Order Processing Operations Successful? Check These Steps

Order processing management refers to handling and fulfilling customer orders. It’s a system that ensures each customer’s order is picked, packed, and shipped correctly. Depending on the size of the business, order processing can take place in a warehouse where pickers, sorters, and packers fulfill orders together or in a small, dedicated space with fewer people handling it.

Failing to manage your order processing system could lead to problems in business operations and profit loss. That’s why it’s important to keep the gears turning for flawless order management services.

The Basics of Order Processing Service

Working on accomplishing the basics flawlessly, then overdelivering on those tasks is key to successful order processing management. There are five main steps in a basic order processing management workflow, although sometimes it may continue if a customer initiates a return process. Let’s look at the major steps in order processing:

Order Placement

Order processing management starts when a customer orders a product from your store. This step aims to gather all the necessary information for collecting payment and completing delivery. It includes payment card information, delivery address, and other relevant details.

Some businesses take orders over the phone, but almost everything is done on the internet through online shopping carts and checkout buttons. Once the order is confirmed, we move on to the next part of the order processing management workflow.

Picking Inventory

In this step, a worker or automated system selects the customer’s desired product and prepares it for shipment. This part of the process requires efficiency to avoid errors. Several strategies for order picking can help speed up the process. 

Picking items off the order list one at a time is called discrete picking. Zone picking is where all items in the same area of the storage space are picked regardless of order or destination. In batch picking, orders are arranged in batches, and items are picked per batch.

Sorting Items

Another part of the process that requires accuracy is sorting orders. This is the part where you sort which items belong to which order, then separate orders according to their destination. It helps you monitor which orders were completed and ready to be shipped. Mistakes in this step cost money and waste time, so meticulousness is important.

Packing Orders

During the packing process, items are packed into appropriate shipping boxes, weighed, and labeled with recipients’ addresses and delivery instructions. Regardless of how the orders are packed, you should prioritize dimensions and weights that can be easily handled and are cost-effective.

High-quality packaging contributes to a good customer experience. Improper packaging may cause lost or damaged orders, which ruins the shopping experience for customers.

Shipping

You must analyze and decide the best methods to deliver a product efficiently. Proper order management service also ensures that the order is handled and delivered correctly to the customer. 

You should have a trusted courier partner that provides tracking information for you and the customer to monitor the package’s whereabouts. An estimated delivery time will also benefit customers and ensure their orders will be delivered.

How to Make Order Processing Management More Effective

Order management service is crucial in ensuring a great customer experience. Efficient order processing management benefits your overall business operations and strengthens customer loyalty.

Ecommerce businesses encounter a lot of challenges tackling order management services. However, there are also many ways to resolve those challenges and improve your processes. Let’s revamp your order processing workflow and replace bad practices with the following steps and strategies to reduce mistakes and increase efficiency.

Automate as much as you can

Order management systems can help you automate repetitive tasks and decisions to help save time and make the process more efficient. In most ecommerce businesses, orders are processed automatically using order processing management software.

With human error as the top cause of fulfillment issues, automation is necessary to operate the business properly. Automated order processing can minimize the possibility of errors and delays, which means fewer order returns, cancellations, and negative feedback. Automation also ensures a smooth workflow, thus, reducing the issues in the overall business process.

Keep your order-processing workflow up to date

You may have to invest in high-tech ordering software to update your workflow, or you can simply refine your process. Your current system may work well for your backroom operations, but it can also be outdated enough to cause longer processing times and other minor issues here and there.

Working out the kinks in the process and updating the system means you are keeping up with the times. It guarantees smooth operations and satisfied customers all the time. Restructuring the system based on what works well for most customers shows that you care about them, leading to increased customer satisfaction and loyalty.

Monitor your inventory diligently

Keep accurate inventory records and regularly update the info on your online shop. Customers need to know which items are in stock and which ones aren’t when ordering from your store to avoid any issues in order processing management.

You must be on top of all your inventory levels, especially for fast-moving items. Ensure that all products are always in stock to keep the orders coming and the order management service flowing smoothly.

Ask for feedback

After a successful delivery, some businesses contact customers to ask for input or answer inquiries about the product. They conduct regular surveys to analyze customers’ feelings about the processing workflow, the service, or the product quality. Feedback from your clients can give you insight into how you can improve your order processing system.

Based on what your customers say, you can work with your order management service provider to optimize and improve your strategy. You can use the negative feedback to repair broken systems and resolve customer pain points. And positive feedback lets you know what you’re doing right and which part of the system doesn’t need to be changed or corrected.

Outsource it

Ecommerce companies benefit from outsourcing order processing with order management service providers, especially small to midsize businesses. Outsourcing order processing means trained order management service personnel will manage the process, leading to fewer errors and smoother workflow. 

The flexibility offered by order processing outsourcing companies can help you create a custom order processing management solution. Working with outsourced staff will help minimize overhead and process-related costs.

Conclusion

Order processing management is at the core of ecommerce business operations. The 5-step basic order processing workflow ensures that outbound orders are well prepared, packaged, and shipped to the right customer. It may seem easy to accomplish, but simple mistakes anywhere in the process can cost a lot of money.

There are many ways to ensure efficient order processing operations. Automating and updating the processes helps in ensuring smooth workflow and flawless execution. Keeping track of your inventory levels also helps in successful order prep and delivery. You can still improve even post-purchase by connecting with your customers and asking for feedback.

Most importantly, one of the best ways to ensure successful order processing management is to let the experts handle it. Outsourcing order processing operations guarantees better workflow handling and fewer mistakes, leading to increased productivity and profitability. So start looking for an order processing outsourcing vendor today!

Keep Track of Sales and Orders with Ecommerce Order Management This 2022

Ecommerce Order Management 2022

Ecommerce will change drastically in 2020. Adobe reports that the total amount spent online in May was $82.5 billion. By April, the sector had grown by ten years in just three short months. Brands were compelled to review their operations due to constrained supply chains and unprecedented demand.

Nowadays, almost all shopping is done online, and there is more competition than ever. Retailers need to be resilient and nimble if they want to succeed in this environment of extreme speed.

Brands require a larger digital footprint in order to counter the issues presented by an online-only ecosystem. This covers retail partnerships, new sales channels, and selling on marketplaces. Seventy-three percent of customers use multiple channels to make purchases, according to a recent study. Complexity is also increased by adding sales channels. How can you keep up with both the competition and customer expectations? A system for managing online orders is a component of the solution.

How Does Order Management in E-Commerce Work?

An eCommerce order management services system's objective is to deliver a product to a customer as quickly as possible. Each item in the customer's order is managed throughout its entire journey, from the time it is added to the cart to the time it is delivered to the customer's door, as well as any subsequent returns.

1. The Procedure for Order Fulfillment

Every business has a different strategy for fulfilling orders. This may depend on the clients, the fulfillment sites, the returns procedures, and the suppliers. Although cycles can differ, the following steps are typically included in order fulfillment procedures:

  • A customer places an order with the business.
  • The business inputs the order into its computer system.
  • The client is informed that the order has been received by the business.
  • The closest warehouse or fulfillment facility receives the order.
  • The order is taken from the shelf by a worker.
  • The business prints shipping labels and prepares the order for shipping.
  • The order is sent by the business.
  • A notification that the order is being shipped is sent to the customer.
  • The purchase is made.

2. Systems for Order Management Make Order Fulfillment Easier

The goal of an eCommerce order management system is to automate, streamline, and reduce the cost of the fulfillment process. These processes are optimized to lower shipping and administrative expenses, improve data quality, and pick and pack in the most effective manner. Numerous systems for managing eCommerce orders simplify credit card processing and returns. In order to adapt to the way you conduct business, the best operational software will integrate with the top eCommerce tools and platforms.

The e-commerce order management services system may create an invoice, print a shipping label, and update your QuickBooks accounting software when a customer makes a purchase. By integrating with your 3PL, FBA, or shipping carriers like FedEx or DHL, the eCommerce order management software can even track an order's progress once it has shipped. Your customer can follow an order's progress after it leaves a warehouse all the way to their front door. This is frequently made easier by the OMS.

How to Effectively Keep Track of Sales and Orders with Ecommerce Order Management?

Ecommerce order management software is essential when running a successful ecommerce store. Without proper order tracking, you won't know exactly how much inventory you have left, how much money you've made, or how well your customers are responding to your products.

In this article we'll go over some tips on how to track sales and orders with ecommerce order management software.

1. Set Up Inventory Tracking

Setting up inventory tracking is the first step towards managing your inventory effectively. When you set up inventory tracking, you're able to view all of your current stock levels, including the quantity remaining on hand.

You can also monitor your inventory costs and calculate profit margins.

2. Create Purchase Orders

Purchase orders allow you to automatically place orders for items that you sell. They make sure that you have enough product to fulfill customer orders.

They also let you manage multiple purchase orders simultaneously so you don't have to worry about missing out on sales due to slow shipping times.

3. Manage Customer Feedback

Customer feedback allows you to respond to customer reviews and comments. You can also assign ratings to your products based on customer satisfaction.

This lets you find out which products are selling best and which ones aren't performing as expected.

4. Monitor Shipping Times

Shipping times are crucial to keeping your customers happy. With order tracking, you can easily see when shipments are being sent and when they arrive.

You can also adjust shipping rates according to delivery dates.

5. View Sales Data

Sales data gives you insight into how well your products are selling. You can learn which products are selling best, which

Key Components of Successful Order Management

Brands should look for an order management system that supports their current infrastructure in order to take advantage of the eCommerce growth. The functionality of your company's e-commerce order management services can make or break it. Here are some considerations to make.

1. It Integrates with Various Business Systems

The ability of a distributed order management system to integrate with business infrastructure, service providers, and supply chain technology is a crucial feature. The majority of e-commerce order management systems can be integrated with your inventory manager, accounting software, warehouses, and other systems. Some even offer an App Store or, in the event that neither is available, open APIs that can be used to connect to third parties. Order management will be as seamless and automated as possible thanks to integrations with your existing systems.

2. Automation Eliminates Manual Processes

The better, the less manual processes there are. Manual processes are much more prone to human error and can never match the speed of order management software. Automation is offered by a system for managing eCommerce orders, from calculating shipping costs to sending fulfillment requests.

3. It Offers a Worldwide Service

Our world is becoming more and more globalized. Every day, brands accept orders from outside their borders. The majority of order management systems are capable of facilitating international eCommerce orders and payments from any nation and currency. This increases a brand's retail footprint and enables them to benefit from their experiences in new markets as they learn and develop.

4. It Reports Stock Needs and Makes Forecasts

To prevent reordering or overselling, many eCommerce order management services systems can forecast how much safety stock you'll need. This may be crucial in Q4 and other periods of unanticipated demand fluctuations. A merchant-fulfilled strategy can also be supported by an order management system that connects to your inventory channels. You may have more freedom and authority over order management processes as a result.

5. It Functions on All Channels

In addition to your website or online store, marketplaces, or whatever main sales channel you use to sell, ecommerce order management services systems can satisfy customer needs across all the eCommerce platforms and sales channels you'd anticipate. As your business expands, managing these orders through a single channel will become more and more difficult. Without a way to combine the sales orders and data from all of your channels, your staff will become burnt out and more prone to errors. Each channel has its own logins and procedures.

All of your channels can be integrated into a single user interface using an eCommerce order management system. Your staff will spend far less time filling orders and orienting new hires as a result. By consolidating all the information you require in one easily accessible location based on real-time data, it will also provide you with a comprehensive view of orders and data and help you avoid mistakes.

Wrapping Up

In the world of eCommerce, a system for order management services is essential. The fastest, most personalized, and error-free order fulfillment experience is what customers have come to expect, and it can only be provided by using this method. As an eCommerce retailer, you must constantly think more quickly, personally, and technologically. The level of customer satisfaction offered by today's order processing services is unmatched in these areas.

By outsourcing order processing, you can avoid managing and maintaining the order processing and fulfillment system. With regard to streamlining their order, sales, and fulfillment processes, Wow Customer Support has helped both small and large businesses across a variety of industries.

What is eCommerce Order Management Outsourcing and Its Benefits?

eCommerce Order Management

In recent years, the corporate sector has evolved dramatically. Every day, changes occur around the globe and in supply chain management. Customers have freedom in the number of orders and delivery routes. Therefore global supply chains are complicated bundles. Today, let’s look at how order management outsourcing might aid eCommerce businesses.

Management outsourcing transfers the previously outlined customer fulfillment process to another organization. This outsourced business takes over your order management process and uses its experience to guarantee that it runs smoothly. 

Based on the study by Baymard Institute 69.80% shopping cart abandonment rate has been reported because of a lack of order management process. Order Management Outsourcing may provide value to your company and help you avoid problems that could harm your reputation.

Management Outsourcing

Benefits of eCommerce Order Management Outsourcing

Order management process may be time-consuming and requires numerous steps. From start to end, a whole system run-through might take days or weeks. When you multiply this by the number of customers, what looks to be a simple procedure becomes far more difficult.

It may be difficult to prioritize this procedure on top of other internal issues for a company that is just getting started, experiencing a huge rush of orders, or seeing increasing site traffic. Still unsure whether order management outsourcing is for you? We’ve listed a few reasons why you should consider it for your business.

Helps Save Time

A foolproof order management system requires science. It takes time to create a system that is perfectly suited to the way your company runs and the type of things you provide.

This might result in a considerable lag in order fulfillment for a young company or one that is new to eCommerce, resulting in revenue loss. It’s also tough to account for everything that may go wrong with an unskilled fulfillment team. Shipped parcels can go missing, commodities can go missing, and databases can be hacked, causing havoc.

Order management services may be a lifeline for many firms, especially small ones that need time to figure out other elements of their business.

Reduce Risk

Customers expect outstanding service from new businesses as well. They anticipate that their orders will be sent and delivered on time. This might be problematic for any corporation with little expertise in cargo organizing.

Outsourcing your order management services enhances the chance of each order being processed and delivered to the consumer effectively. The outsourced business may also fix any problems a customer may have with the items.

Like Wow Order Management Outsourcing Services, these companies possessed years of experience. They possessed the skills and know-how to solve any issues that arose during the fulfillment process.

If a customer requests a difficult-to-transport item, an outsourced services provider will know how to handle the packaging and ship them together efficiently. Not only is your customer glad that their items arrived undamaged, but you also save your company money by not having to replace an item that was damaged in transit.

These enterprises, too, have staff and a set of regulations. This means you will save time and money on training and hiring new employees. Outsourcing these parts relieves you of the hassle of hiring several people for a single task.

Build Customer’s Loyalty

With so many online merchants to choose from, customer retention is vital to any business’s long-term sustainability. It may take time to win a customer’s loyalty, but regaining it is difficult.

“Customers will remember if you send defective items or are exceptionally late in shipping certain things and avoid your web store the next time you host a sale”, according to a poll conducted by Yotpo, a producer of integrated marketing solutions.

Customer voices are also easily reinforced by the power of social media, perhaps scaring off other potential clients who were thinking about using your services. Excellent shipment and fulfillment, on the other hand, may easily lead to repeat customers.

Customers Loyalty

Order Management Outsourcing Services Inclusions

When you have a fresh new business, this may not seem too difficult: a few orders come in each day, and you can swiftly fulfill them yourself. As sales increase, channels develop, goods are added to your inventory, and your client base grows, potential difficulties may occur.

As your eCommerce shop expands, an order management system may assist you in removing bottlenecks.

The journey begins when a consumer puts in an order and ends when the order is delivered. You may handle a wide range of procedures by outsourcing these services, which include the following.

Customer Support

Customer service encompasses everything from delivering quotes, receiving orders, addressing problems, and managing grievances through returns, refunds, and customer follow-up.

Business Process Outsourcing

Order data input, contract validation, customer attestation, acquisition of order validation, order status check, and order revocation management are all services provided by the back office.

Accounting and Finance Services

Finance and accounting services include, among other things, invoice data input, invoice processing, invoice production, and credit checks.

eCommerce Order Management Cycle

Order Processing Services like Wow Customer Support provides a wide range of services that simplify your company procedures, including inventory management, order fulfillment, and after-sales support. Below is the cycle of the eCommerce order management process:

Order Placement

The initial stage in any order fulfillment process occurs when a customer places an order using an automated form. After receiving the order, a sales staff member double-checks the information before confirming it.

Order Picking

Picking is obtaining products from available inventory and delivering them to a packing station by following a picking list. Warehouse picking crews, or pickers, are frequently allocated to this activity. This is where warehouse management comes into play: how inventory is organized affects how long it takes to fulfill each order.

Order Packaging

When the order arrives in the area, it is packaged in a way that reduces the dimensional weight while providing enough protection. Some let clients supply their creative packaging to give customers a one-of-a-kind unpacking experience.

Order Fulfillment

When an order is verified, it is delivered to the warehouse, where an employee validates the shipment information. Following that, the employee creates an invoice and completes the order. As a result, three critical procedures must be taken to guarantee that the order reaches the client on time: choose, pack, and ship.

Order Fulfillment

Order Processing Services Available

Order processing is a critical component in any sales process. Performing it well puts you one step ahead of the competition in generating new business and building current customer relationships.

When you run your business online, order processing becomes even more important; clients have a lot of alternatives to select from, and faster replies to their orders and inquiries almost always lead to a sale. Here are the available order processing services you should take note of:

Data Entry for Orders

Terminals and automatic data input systems that record and validate all information. As a result, the data entry services relieve you of the time-consuming chore of data capture.

Services for Purchase Order Processing

Because of data capture software, you can ensure that manual data entering labor is reduced. Furthermore, the program scans the order forms for critical information. It then records it, decreasing the possibility of a mistake.

Customer Database Administration

This service assists customers in fulfilling orders and maintaining records in an organized manner. Customer data is constantly gathered, evaluated, and maintained. With this type of service, you can be certain that your consumers will be highly respected and that they will be completely satisfied.

Services for Billing and Invoicing

The services for invoicing lets the customers get their bills by mail or email. This also helps track both paid and outstanding orders.

Services for Transaction Management

This helps keep track of critical management services and commercial transactions. Furthermore, all transactions, their impacts, and transaction-related facts are documented.

Document Digitization

The digitalization procedure provides you with the document exactly as it is. It does not modify or affect any of the information included inside it.

Services for Indexing and Archiving

Indexing and archiving services are tailored to your requirements. This organizes your data to meet the needs of your company. Any field you desire can be added and handled for your convenience.

Indexing and Archiving

Conclusion

Outsourcing order processing relieves you of managing and maintaining the order processing and fulfillment system. Wow Customer Support has worked with small and big organizations in various industries to optimize their sales, order, and fulfillment processes. 

We can enhance how you handle and fulfill client orders by gaining a thorough grasp of your present condition and business procedure. We arrange your data methodically, keep your customers delighted, guarantee that purchases arrive on time, and provide you with every other service that allows you to focus on your important duties without having to worry about these services.

Find this blog useful? Contact us today and share this with your friends!

7 Common Inventory Management Mistakes and How to Avoid Them

7 Common Inventory Management Mistakes and How to Avoid Them

Inventories are one of the essential components in retail and wholesale businesses. Poor inventory management generally leads to stock-outs, shipment delays, customer dissatisfaction and eventually financial loss. The U.S. Census Bureau says that manufacturers, retailers and merchant wholesalers carried more than $1.9 trillion in inventory in June 2018 and experts say that 90 percent of the inventory remains stationary and only about 10 percent of a company’s inventory is actually in transit. This is why inventory management is crucial for any business.

Apart from implementing best practices, a few measures can be taken to avoid huge inventory losses. These tips will prove effective in the long run and be useful if implemented in the right way. Therefore, here are seven common mistakes made by retailers and wholesalers regarding order management and how they can be avoided.

  • Conducting inventory counts once a year

Performing inventory counts once a year isn’t a good practice. Also, having yearly inventory counts can consume a lot of time to check on your stock items. One of the most effective ways to keep a track on your resources is by performing periodic checks on inventories.

This means instead of doing a physical count regularly; you can try ‘cycle counting management’ which requires you to count a small portion of your inventory. You can compare it as you go to what is listed previously within your system database. This can be performed every month until everything is eventually covered and recorded correctly.

Keeping a regular check on the number of recorded items in your database and the available items helps you determine what’s selling and what’s not!

  • Holding unnecessary inventories

Sometimes holding too much inventory can definitely act as a disadvantage to your business. Small businesses have fluctuations, and when consumer demand recedes, the value of the products reduces consequently. You would also require more staff to manage your inventories, which will burn holes in your pockets.

To maintain the right amount of inventory required for your business, all you need to do is forecast your inventory needs. Find out how many stocks are necessary for your store or warehouse by regular analysis and reviewing the inventory reports subsequently.

  • Using manual techniques

Inventory tracking can be very time consuming, labor-intensive and costly when done manually. Paper records or excel spreadsheets are very vulnerable to errors and losses. If you keep a large inventory in multiple warehouses and stores, all you need to do is invest in eCommerce Inventory Management software. It will help you track your inventory levels, figure out inventory values. This automated system also generates accurate, in-depth reports to forecast inventory needs and manage your supplier data through one system.

  • Keeping your storage space unorganized

Storing supplies carelessly will not only prevent your business from achieving higher efficiency but also slows down the process of picking and packing, which can alternatively lead to shipment delays. Therefore, it is vital to tidy up your inventories and warehouses.

To make your item sellable, you need to sell them from an accessible position. One way is to put labels or stickers on each compartment to make it easier for pickers to find the items instantly. Furthermore, you can integrate your inventory management software with the aid of barcode scanners to speed up the picking process.

  • Not training your staff properly

Even if you have made your inventory management service automated, it will all go in vain if you do not have the right inventory management services required for your business. It is of utmost importance that you train your employee correctly to manage your inventories efficiently.

Conduct regular training and upgrade your inventory management techniques with the latest technologies. Keep your staff updated on the status of your inventory. Ensure the person in charge of the inventory ensures smooth running by implementing the right inventory management solution for your business needs.

  • No game plan for the future

Being held up with day-to-day operations can sometimes make you lose track of your business growth. This can often make your business become a failure or bring your business growth to a standstill. Therefore, have a set vision of your business and have a team working towards your goal. Set achievable targets, and reward your employees.

When it comes to order management services, you upgrade your infrastructure and the automation system that you use regularly. This will not only help you grow your business but also earn profits at a higher rate.

  • Not using the right vendors

This may appear to be a no brainer, but it is a commonly facing issue by many. A good vendor is basically a fine balance between someone who is consistent and doesn’t also charge a bomb.

Before looking for a vendor, ensure you review their services thoroughly and look for customer feedback.

If you are selling a niche product, always consider a complete vertical integration to control over manufacturing, demand and therefore your inventory levels.

Final Thoughts

If you are looking for expert order management services for your business or order management outsourcing companies, Wow customer support is one of the leading organizations providing one of the best inventory management solutions at affordable rates. They provide eCommerce inventory management services to many Fortune 500 companies and top organizations. To know more about their services, click here.

Interesting posts to read:

Everything You Need to Know About eCommerce Order Management Outsourcing!

How Outsourced Order Management can be Effective for Business Growth?

How Outsourced Order Management can be Effective for Business Growth?

How Outsourced Order Management can be Effective for Business Growth

Order management is a crucial part of every business. A business needs to attract more customers which is why it is vitally important that it efficiently fulfills and processes existing client orders quickly. Order management is the very heart of every enterprise resource planning or ERP. You have to decide whether to handle eCommerce order management on your own or through a third party. Outsourcing helps to ensure that many of your daily tasks can be handled through a third party.

Lower Cost and Higher Efficiency

Outsourcing can help your business grow for a lower cost and in a more efficient manner. Third parties can be entrusted with the task of performing functions that your business would otherwise spend its valuable time on. All kinds of jobs can be outsourced and order management services are but one of the challenges confronting your business.

Lower Freight Rates

By outsourcing your business’s eCommerce order management to a third party, your business enjoys many benefits including lower freight costs. Remember that shipping costs are a huge expense for every business. The greater the volume, the lower the freight rates. Through outsourcing, your business can take advantage of high volumes and lower freight costs.

Also, shipping your products from an inhouse location does not ensure optimal costs or lesser transit times. Order management outsourcing gives your business a big advantage in the form of lower shipping costs. Not only that, but it also reduces delivery times of your products/services to your clients.

Share the Costs

If your business runs its own warehouse, it must bear all the associated costs. However, when you contract out the running of your warehouse operations to a third party, you can share the costs with them. This means that expenses like labor and rent as well as the cost of equipment and utilities plus miscellaneous costs will be shared. The result is significant savings in terms of money and time.

Manage Your Inventory

By outsourcing your business operations to a third party, your partner will bear all the shipping costs and in addition, your business gets access to the latest technology. This helps to make your business operations more efficient. Overall, outsourcing makes the entire supply chain run more smoothly. Best of all, outsourcing your eCommerce Order Management ensures that your partner handles all the shipping tasks. This frees up your time which you can spend on other tasks that will help to make your business run more efficiently.

Providing high-quality customer service is another very important part of every business. When you outsource this task to your partner, they will ensure that all processes are seamlessly integrated. Besides, they will also be able to handle the returns process in a more efficient manner. The result is a happier customer and more repeat orders.

Various functions like warehouse location and managing inventory space can also safely be entrusted to an outsourcing partner They are going to ensure that your shipments will reach your customers on time and order tracking will also be taken care of in a more efficient manner.

Best Time to Outsource Order Management?

The best time to outsource your order management process is after your eCommerce website goes live. Your outsourcing partner can help build and also customize your digital business. They can also handle your website, sales, and other miscellaneous eCommerce operations from a single location.

Another thing to keep in mind is how best to take care of customer order management.

If your business is not getting national or international attention, then it is time to outsource your order management services to a third party. Doing so will help your business save on fees and costs. By sharing responsibilities, you can free time to devote to selling products instead of managing everyday operations.

A successful business has to spend a lot of time selling its products and managing its operations. There is also a lot of competition in the eCommerce space. Unless your business becomes more visible, it won’t grow at the desired pace.

Also, if your business’s infrastructure is not geared to promoting eCommerce growth, then outsourcing is the way to go. Access to modern technology is neither easy nor cheap. If your business does not have the resources to grow rapidly, then it is the right time to outsource. Your partner will manage all of your operations giving you the freedom to spend time on marketing your products/services and scaling your business to keep pace with its growth objectives.

The best time to outsource is when you find that the cost of each order is greater than that of your provider. Keep in mind that your business is going to come under a lot of stress trying to keep pace with all the eCommerce order fulfillment services.

Volatile Order Volumes

It is normal for order volume to fluctuate with some days seeing a lot of orders and other days there will be none. If you outsource order fulfillment, your business won’t have to deal with fixed costs. In fact, processing orders through a third party ensures more accurate as well as more cost-effective order processing

Final Thoughts on Effective Order Management

Now that you know how outsourcing order management services can help your business grow, go ahead and check out an outsourcing company called Wow Customer Support. Ask them for a quote, which they will provide within 24 hours. Outsourcing can help your business grow because everything is taken care of – starting from query handling to providing a quote, and more. All in all, inventory management outsourcing holds the key to helping your business grow because your partner does all the heavy lifting for you. Our Wow Customer Support Twitter handle is @wowcsservice

Similar contents to read:

7 Effortless Ways to Find Effective Call Answering Services Provider

How to Build a Successful Offshore Team for Customer Support?