The Power of POS & OMS on a Single Platform
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The document discusses the advantages of integrating point of sale (POS) and order management systems (OMS) on a single platform to enhance inventory visibility and improve customer service. It emphasizes that better inventory management can lead to increased sales and reduced costs associated with unproductive inventory. The text highlights the importance of inventory turnover and how multiple fulfillment options can help 'save the sale' when items are not available in-store.
The Power of POS & OMS on a Single Platform
- 1. The Power of POS & OMS on a Single Platform
- 2. Agenda § Paths to Purchase § Enterprise Inventory § Save the “Sale”
- 3. Leveraging a point of sale solution tied to an order management system can provide greater visibility to inventory across all channels and ultimately lead to more sales and better customer service. Having visibility to inventory can also help “save the sale” when an item is not available in store but could be ordered from another inventory channel, such as a warehouse or through a partner. The Power of POS and Order Management Systems on a Single Platform
- 4. Multiple Paths to Purchase Customer Engagement Multiple System of Records Item Inventory Customer & Order Payment Brick & Mortal Point of Sale Physical Physical Physical Physical Online (desktop and mobile) e-‐Commerce Platform Virtual Virtual Virtual Virtual Market Place Market Place Platform Virtual Virtual Virtual Virtual Customer Call Center OMS Virtual Virtual Virtual Virtual Path to Purchase
- 5. Importance of Enterprise Inventory Visibility • Your largest investment is inventory (working capital) • Unproductive inventory costs retailers millions $$$ each year • Clearance (lost gross margin)….. GMROI • Discontinued or obsolete inventory • The goal is to improve your Inventory Turnover which improves your cash flow. • Merchandise/Inventory Turnover of 4 is better than 2 • For example the avg. turnover for a clothing store is 3.91 (1) • It is about conversion. Exposing inventory can improve comp sales for retailers between 4% to 8% (1) Source Thomson One Banker Data Base)`
- 7. Save the “Sale” • Ship from another store • Ship from vendor • Ship from distribution center • Ship from 3PL • Ship to Store • Pick up at Store Power of POS with OMS
- 8. Order Management Flow Order Capture Channels Distributed Fulfillment Order Management • Centralized Inventory Availability • Order Life Cycle Management • Distributed Order Routing • Distributed Fulfillment Store NetworkWarehouse Network Vendor Drop-‐Ship Network Inventory/Orders ERP Customer View e-‐Commerce Marketplaces Point of Sale Call Center