Order Management’s Pivotal Role in an Evolving Business Landscape
The pressures of today’s global economy have forced supply chain functions to play a more direct and strategic role in reducing costs, improving the customer experience, and driving added value throughout the organization. Naturally, supply chain leaders now have a significantly higher rate of interest and involvement in order management initiatives.
To get ahead of the competition, by eliminating waste and enhancing visibility, supply chain leaders are increasingly turning to order processing automation solutions to stay ahead of the competition.
Eliminate waste by reducing errors
One of the biggest contributors to the cost to process an order is order entry errors. According to A.T. Kearney, the average cost to rework an order is $200-250. Depending on the industry though, the cost can be even higher. In the food and beverage industry, perishable items are being distributed, representing even more lost value if errors occur. In the life sciences industry, lost orders, delivery delays or other errors can have dramatic effects on patient care — opening the door to potential regulatory ramifications.
How does an automated order management solution reduce hard costs? First, since workflow is completely electronic, it eliminates the reliance on costly paper-based consumables and equipment. Secondly, with human involvement taken out of order entry, errors are eliminated and the cost of reprocessing orders is avoided. Lastly, automation is a scalable solution. Allowing your business to grow without adding headcount.
Enhance visibility by monitoring KPIs in real-time
The Aberdeen Group recently found that organizations believe “improving internal cross-departmental visibility” and “streamlining processes for easier monitoring and enhanced visibility” to be the top two strategies for alleviating the pressures of today’s supply chain costs and complexities. The increasing amount of activities, logistics and channels involved in the supply chain make visibility a necessity. For supply chain owners, visibility is the key to mitigating risks, cutting costs, and meeting or exceeding customer SLAs.
Best-in-class order processing solutions come equipped with intelligent and customizable dashboards that provide full visibility and enable users to facilitate daily tasks, monitor performances, and react quickly to prevent problems or spot opportunities early. Added oversight is delivered by customizable Key Performance Indicators (KPIs) that users can easily track and monitor (e.g., orders approved, processing time by CSR, priority orders to validate, customer issues per month, etc.).
Providing immediate updates on when an order has been received, confirmed and shipped, along with instant access to documents supporting the movement of goods, better equips all departments to deliver an optimized customer experience.
Are you looking for a way to streamline your order management processes in order to keep up in a competitive business environment? To take a deep dive into solving 4 of the most common challenges in the supply chain and how order management helps eliminate your concerns – Register for our upcoming webinar: