In the fast paced technologically competitive world, every business environment, irrespective of being a small or medium venture or a large conglomerate, is aimed at maximizing cash flow. By establishing an order management process ensures smooth flow from approved orders, order fulfillment, payment, operational efficiency and customer satisfaction.
Order fulfillment as per Wikipedia is the complete process from point of sales inquiry to delivery of a product to the customer. In other words Order fulfillment in the broader sense describe the way firms respond to customer orders. Simple though this may sound, with every business process being different the order management system also differs. Considered as a ratio between the production lead-time to the demand lead-time, organizations work out various options such as engineer-to-order, build-to-order, assemble-to-order, build-to-forecast and digital copies to meet the order fulfillment requirements.
Further being the last link in the supply chain and direct contact point in the customer’s procurement process, order fulfillment is a vital component of every business process. The supply chain process is dependent on the success of the order fulfillment process and entails a meticulously organized operation from procurement to timely despatch and delivery of products. However, in the globalized business environment, with customers and offices spread across wide geographical boundaries, business houses have turned tech savvy. Investing in purchase order software and order fulfillment software is one way to ensure consistent quality, high visibility and timely delivery of the products.
Today, with technological innovations and procurement process going the electronic way there are number of enterprises in the service sector that have designed and developed automated cloud process based order management system. Being a demanding task, the manual handling of order fulfillment process may result in errors leading to customer dissatisfaction. The automated cloud process would not only handle the processes smoothly but also control the end-to-end flow.
The leading service providers of this sector provides their clientele a cloud-based process which by integrating the value network, executes a logical operation ensuring optimized performance in the order fulfillment process with a high degree of transparency. Further, this process with its interactive dashboard helps the organization to
- Monitor and control the procurement process
- Control packaging and transportation
- Receive real-time reporting of orders dispatched.
- Monitor the trends
- Identify bottlenecks and conduct an in-depth analysis.
The cloud based order management system works as a tactical intelligent factor in the supply chain business offering the clientele flexible, simple and proactive methods to achieve high-performing order fulfillment process to strengthen customer relationship.
Also read on - business travel management, supply chain management solutions
In this competitive and aggressive market, where every brand is working hard and smart to outshine other market players customer research plays a very important role in helping brands securing their position. At the same time, this helps to gain high returns and retain a positive brand image. A thorough customer research that is conducted on service, loyalty and customer satisfaction can make a great difference in the business.
Furthermore, in this fast paced world is it very important to concentrate on initiatives that help to find out relevant and essential news about clients, their buying habits, demands, potential customers and the like. If an enterprise is able to understand the thinking procedure that makes a probable buyers think whether to buy or not buy a product, then it can effectively manage its sales effectiveness methods. Therefore, customer mindset and behavior is of paramount importance.
When it comes to business customers, you need to have a clear idea about on the size and success of the business and the sectors that are frequently dealt with. This will further let you know the audience who would purchase your product. When it comes to individual customers, it is important to have a customer research program for being able to find out essential details such as age, gender, preferences and attitudes, income bracket, lifestyle, occupation and the like.
Eminent companies specializing in Product R& D Services today have introduced innovative customer research solutions. These solutions enable organizations to have a better understanding of the audience mindset. The innovative techniques used provide the customers with the very foundation for an ongoing collaboration when used on a daily basis. Furthermore, other integrated techniques allow clients to involve their respective stakeholders in product planning and trace new product features via the development lifecycle. The core focus areas are as follows:-
- Customer Requirements
- Product Requirements
- Product Usage / Features
- Future Products
- Pricing Models
Though product companies are aware that they have to be always connected with their target audience and other prospective clients, so that they can be ahead of their competitors and other requirements, there are few who lacks efficient procedures in making frequent, unfiltered, high-value customer research interactions with the purchasing sections. This continuous collaboration helps the enterprises to develop a clear idea about the user needs and is further able to keep a tab on the customer trends. This becomes even more important for the ecommerce enterprises if they are planning to resort to innovative ecommerce solutions.
Read on - Agile lifecycle management, Application lifecycle management
The globalized business environment calls for a smooth management of resources and workforce across geographical boundaries. Technological innovations have paved way for virtual access to all the locations for the managing the basic requirements. Though this helped to reduce the frequent travel requirements of key personnel, it has definitely not eliminated the travel requirements of the top management.
For the organizations, to maintain employees or top management’s travel administration and ensure that the travel regulations and policies are followed becomes next to impossible in the globalized arena. Hence enterprises opt for expense management software. Traditionally expense management refers to the system used by business houses to process, pay, and audit employee-initiated expenses. These include expenses incurred for travel and entertainment, policies and procedures governing the spending, as well as the technologies and services utilized to process and analyze associated data. The on demand web based applications offered by the SaaS providers help automate travel expense management with an 80% reduction in the processing and reporting expenses.
The advent of the cloud computing has helped enterprises develop travel and expense management software which can be delivered through the cloud process and can handle end-to-end business travel expense of an organization. Such cloud-based process used for corporate travel management controls the business travel expenses much beyond what the traditional expense management software works at. Inbuilt with best process for accounting and invoice handling, travel booking, travel-profile management and integration with the largest travel related suppliers, this software provides a clear visibility into travel management.
The benefits of using the expense management software are seen in the significant reduction in the travel expenses, faster turnaround time for business travel expenses and reduction of up to 75 % in travel administration costs. Besides cost reduction benefits it also paves way for an improved control over the business travel expenses, maintaining compliance with laws and tax regulations, maintaining company and traveler profile management and availability of real-time information from the value-network. The pre-integrated business network expedites the travel claim approval process by eliminating repetitive manual tasks. Being a web-based cloud process this is accessible anytime irrespective of the location and can be seamlessly integrated with other HR functions.
Also read on - Spend analysis, Value network
The value of customers in a cut-throat competitive environment is undeniably that of the highest priority. Gone are the days when customers had no options as few businesses had a vice-like grip on the market and made the best out of their monopolistic status. Today the scenario is completely reversed. The customer’s verdict matters the most and influences the growth of a business. Today selling your products is not everything. You have to understand the requirements of your customers so that you can provide customized products and gain the customer’s appreciation. You have to be open to your customers’ suggestions and criticisms to make improvements and maintain a long-lasting relationship.
When you decide to fulfill your customer’s demands you have to also study the strengths and weaknesses of your business also. You have to analyze all the possibilities that can help you in your endeavors without causing you too much pain. Today everything moves at high speeds. On-time deliveries and prompt responses count a lot in your effort to bag lucrative opportunities. You need to possess a repertoire of powerful tools that help you overcome any obstacles without causing expensive damages.
You need supportive tools that deliver impeccable product R&D services so that you can develop products that are high in demand. The tools provide you with an agile, secure and scalable distributed software development platform that assists in leveraging the processes. The tools provide you with impressive customer research analytics and help you to determine the products that are in trend.
Today customers are more knowledgeable and educated. They are in sync with the latest technologies and you have to match your pace with theirs. The age of mobile technology is rampant and you cannot let this opportunity pass by. The business intelligence tools are your lethal weapons that can help you achieve your goals. These tools will assist you in developing mobile applications that deliver outstanding performances and guarantee you success.
When you develop mobile applications you have to ensure that you provide your customers with quick, simple and safe services. There is no excuse for errors in this rat- race. Either you win or you lose. An encouraging attitude and competent strategies can help you achieve your dreams. If you wish to win your customers you must woo them with electrifying and consistent performances. You have to prove that your business is robust and secure and they will never be disappointed with the results.
Also read on - Agile lifecycle management, Business intelligence tools
Reverse logistics has occupied a very low place on the logistics priority list as the companies were not as diligent in reverse logistics as they were in conventional areas of logistics. It was once an almost forgotten part of the supply chain, but now reverse logistics is gaining increasing importance in the current market scenario. It is being seen as an important “value add” to the growth strategy of the companies. Reverse logistics can be defined as “Reverse logistics is the process of moving products from their typical final destination to another point, in an attempt to recapture some of the value of the product through resale, reverse auction or for the purpose of disposal of the item if not resalable or reusable.
The returns policies of most retailers in the name of customer service have caused reverse logistics to become a very visible process.”As far as managing the returns are concerned companies re-use them, re-sell them, leave them to a third party or destroy them. However, companies are more likely to benefit if they can also make use of the information that comes back with returned merchandise.Reverse Logistics can deliver a high degree of functionality through interaction with a Connectivity Platform. The main feature in reverse logistics is the source and reasons for returns. Exchanging information for return orders, authorizations and acknowledgements, stock updates, inventory specifications and sales orders, transport, pick list and repair orders, direct to/from transport providers, warehouse and repair centers and exemption handling can help understand the reason for returns.
Reverse Logistics can be a strategic asset that can reduce costs. By understanding the reason for the occurrence of returns, it is possible to identify the various prospects for enhancing the decision-making.With appropriate policies, Reverse Logistics Management
can automate returns across multiple channels to ensure you know what is being returned, from where it is being returned and the actual reason for the return.
Having such policies in place can also improve your firm’s profitability, and also help companies improve relationships with key customers.Understanding the importance of reverse logistics
management, many companies these days have chosen to either apply new solutions to better manage their reverse logistics process or, alternatively, to outsource their reverse logistics operations to service providers. A third party service provider will be able to take advantage of economies of scale and specialized expertise in planning reverse logistics operations.Also read on -order fulfillment
, business process outsourcing providers