Did you know that the B2B eCommerce sales reached $1.63 trillion in 2021?
This massive number proves that B2B eCommerce is going nowhere but up. More businesses are now catering to other companies.
And to make sure you can meet customer satisfaction... it's crucial to improve your overall business. That includes your order management system.
You need an efficient order management system in place to ensure your customers will buy again from you. You can increase your profit margin, and they can be your loyal customers.
If you're wondering how, stay tuned because we'll discuss...
- What does B2B eCommerce order management mean?
- Why is it essential to improve your order management systems?
- What are the common challenges in order management?
- How to improve your order management systems?
Let's get started!
What is B2B eCommerce order management?
First, let's talk about B2B. What is it, anyway?
The business-to-business model is a type of business model that refers to transactions within businesses. It means your business caters to other companies, not individual consumers.
While order management is the process of handling your sales orders. This includes receiving, fulfilling, and tracking orders.
So, if you want to create a more profitable business... it's important to enhance your order management process.
Let me tell you more reasons why...
Why is improving your order management systems important?
The first reason is you can...
1. Scale your business
Streamlining your order management platforms and system makes it easier to scale your business. Why? Because you won't have to spend so much time and resources in order fulfillment.
This makes it easier for your business process because you wouldn't need to spend a lot of time if there are fulfillment issues.
You can focus on scaling your business and doing other things to reach more potential customers. Aside from that, having an effective order management system will help you...
2. Manage inventory accurately
Inventory management is another tricky thing in running a business. But not when you have data and advanced order management systems in place.
You can avoid understocking and overstocking because you know what products need more stocks. You don't need to waste money on products that wouldn't sell.
Another thing is this plays a significant role in customer experience. Because if you understocked specific products and your customers placed an order, they might have to wait until you fulfill them.
But if you overstock particular products and customers ordered them... the products may not be in the best condition anymore. Especially if the stocks have been sitting in your warehouse for months.
So, you should invest in inventory management services to make the process smoother. And of course...
3. Reduce supply chain complexity
Let's define the term first. The supply chain involves people or technologies that fulfill products or services for customers. And complexity means complicated.
Sometimes, having a lot of networks or organizations involved in your order fulfillment process can cause some issues.
And many factors make a supply chain complicated. It can be the rising customer demands, expanding product lists, and more.
But having an order management system can centralize your fulfillment process. You can also figure out complications and resolve them immediately.
Now, let's talk about...
Common B2B eCommerce order management challenges
1. Lack of customer support
When a customer experiences a problem during the fulfillment process, they turn to the customer service team.
And if you don't have a centralized order management process, you or your staff might have difficulty tracking or resolving customer issues.
Speaking of which...
2. High-volume orders
Since the eCommerce industry is booming, many new products and promotions are popping up every day.
And one of the reasons why it's becoming challenging to fulfill orders is because of high-volume orders. Another one is...
3. No proper integrations
Integration plays a big role in streamlining your order management process. And if there's a lack of integrations, this could be a problem.
This means your website, CRM, inventory, and other channels must be integrated to reflect accurate data.
So, I'm sure you already want to know...
How to improve your B2B order management system?
1. Automate your process
Automation is a must to improve your order management system. This will ensure that everything is moving faster and trouble-free.
For example, once a customer places an order... you need a system that will sync the order from your website with your 3PL or third-party logistics. By doing so, the fulfillment process will be faster.
Automating your entire sales order process benefits you and your customers. You can speed up the delivery process, make payments faster, and reduce errors.
This will also result in a great customer experience.
Of course, if you give your customers a seamless process from ordering to receiving their orders... they'll come back to you. They can also leave positive reviews, which is great for social proof.
You see, automations are crucial in the digital age. As I said, customer demands are changing. They want a faster and more efficient experience.
To make your life easier...
2. Invest in the right order management software
You can invest in order management software to streamline your process.
First, let's talk about OMS or standalone order management software. This software will help you manage orders across different platforms.
Not only that but the customers, inventory, shipping information, order printing, sales channels, and more.
Another solution you can check out is ERP software. ERP means Enterprise Resource Planning.
It's a management software that manages all your company's processes... like finance, marketing, accounting, inventory, supply chain, etc.
The difference between the two is OMS handles the order fulfillment in different sales platforms to make it easy for you.
While ERP acts like the "back-end" because it handles the processes beyond orders. Some OMS and ERP tools are...
Veeqo is a free inventory management tool for your eCommerce store. You can download it from the Shopify app store if you're selling on Shopify.
Brightpearl is an ERP software but can also be your OMS. It has inventory management, warehouse, accounting, retail, and more. You can manage your business in one place.
You can also access data, and through that, you can...
3. Forecast trends and demands
Trend forecasting means predicting future trends. This will improve your order management system because you can expect which products will have more demands.
There are different ways to do so. You can check your customer data and analyze the orders of your customers.
- What are the products they usually order?
- When do the orders start pouring?
- Did this happen before?
The key here is seeing a pattern in your customers' buying habits.
For example, you're selling kitchenware. You noticed that during the holidays, Product A gets the most number of orders. And it's been happening for a few years already.
You can prepare and stock products in advance. This way, you can avoid understocking. You can also prevent overstocking products that your customers don't usually purchase.
So... are you ready to take your B2B order management to the next level?
Use these tips to improve your order management system!
Fulfilling orders is not an easy task. You must ensure that everything will be smooth for your customers— from placing their orders, tracking, fulfilling, shipping, to receiving the items.
Since some tools and apps can support you... it's easier to upgrade your order management system.
If you're still hesitant, here's...