There is a specific chain that products flow through in the business world, specifically in the retailing of goods, to get to the consumer. They must be transported in bulk from the factory to a smaller handler, who then breaks down the bulk and sells smaller portions to the final retailer. The supplier is the person who breaks down the bulk packages into smaller chunks. They serve as a link between the factory and the retailer, who then sells the goods as a package. Today, we'll look at how they use order management software to place orders with the primary manufacturer. So what is order management software? Let's find out.
Definition of an order management software
An order management software is made to ease the ordering process by automating it. The desired effect is to save time in the order-to-cash cycle to improve efficiency in the business. When it comes to a supplier order management system, it facilitates the same efficiency to ensure that the supplier has enough stock to supply all of their clients. If something is depleting, the system automatically sends an order to the manufacturer. With such efficiency, the wholesaler will not run out of a specific item.
What does an order management system do?
This platform performs several tasks, one of them being to track sales. In this case, anything that leaves the storage is recorded, and the income the item has generated is automatically recorded. When the supplier comes to do reconciliation at the end of the day, they will have the whole complete list of the sales made that day, month, or year.
Since the system has a breakdown of every item in storage, this serves as inventory. It shows how many units of each item are available, plus extra details like expiry dates, the batch number, and so much more. Whenever the supplier wants to confirm something, they do not go counting the items; they use the system to ensure what is in storage.
This is a no-brainer as we have already established that an order management system solution does this efficiently. The system refers to the inventory in stock, and if something needs a refill, it prompts the wholesaler or automatically makes the order. It all depends on how the supplier has set it to work.
Track orders dispatched
Beyond leaving the store or outlet, the same order management systems could also offer a reference to show the status of the goods dispatched. Once the goods leave the facility and get to the retailer, it is marked as delivered, and the one that is still in transit is labeled pending. And once the order has been paid in full, the order is termed completed.
How to tailor an order management system to work for your business
There is a plethora of purchase order software Australia you can go with, but if you cannot tailor it to fit your business, you will miss on the efficiency it brings on board. So much so, here is a detailed guide on how you should do it and implement it in your business:
Select an order management system solutions with your goals in mind
You have to realize that order management software is not an all-size-fits-all. Most of them have been designed to fit into a particular business niche. That said, you should select one that aligns with your business goals. Look at the features of the software and see if they meet your goals. If yes, then go right ahead and choose that one.
After selecting your order management system solutions, the next step is to initiate the planning where you include experts who will vet the whole software and formulate a scheme to implement the software smoothly. Look at the costs, time frame, integrations, scalability, evaluation, usability, and custom functionality. While you undertake all of the above processes, ensure that everything is documented.
Test the product as you train your staff
Before you get to the implementation stage, test the software by training some of your staff members to gauge the software's functionality. If they respond well to it and attest that it does a better job, go ahead and implement it.
Once you have people on board and train, go right ahead and implement the system. Since most of your team will have the training to operate the system, it is just a matter of making a switch. Be wise in selecting the time to make a switch. Select a time with fewer orders suppose there is an issue.
A purchase order software Australia can significantly help your wholesale business become faster and more efficient. So get one and see the greatness it will bring.