What is order management?
Order management is a process used by businesses to digitally manage the entire lifecycle of a customer’s order. The typical order management process begins when a customer places an order, and ends when the customer receives their purchase. In between, the order management process includes other essential operational functions such as order processing, inventory management (including inventory visibility), sales, order fulfillment, and returns. Because order management is so closely tied to customer satisfaction, it is an essential consideration for customer relationship management.
What is an order management system (OMS)?
An order management system is the way that businesses organize their order management processes and strategy. Order management systems can take a variety of different forms, including various types of order management platforms and order management software. As businesses grow, order management needs may gain complexity. Certain manual processes of order fulfillment may be subject to human error—but by automating those business processes, businesses can better meet or exceed customer expectations.