Guide to Magento Order Management: Boosting Sales and Efficiency
You cannot effectively manage orders without an order management system. The more orders, the better. This is a known fact. However, it is also a real challenge for administrators to manage such a large amount of data, as it is difficult to keep track of all orders unless they are collected in one place for convenient management.
Magento order management system by Mirasvit is a tool that will assist you in efficiently managing your orders.
Let’s explore the concept of “Order Management” and the possibilities it offers. Additionally, we’ll discuss how the Mirasvit extension can be a helpful solution.
МОМ (Magento Order Management)
MOM is a comprehensive and sophisticated cloud-based system designed to empower sellers to effortlessly handle orders, manage inventory, and coordinate the entire order lifecycle.
This system offers a unified platform that interacts with various channels, payment gateways, and delivery services, from order creation to fulfillment. Magento OMS supports all shopping channels: websites, mobile apps, and physical stores. It is an open-source code that provides an excellent order management system.
MOM is an integrated part of Magento Commerce, now known as Adobe Commerce, designed to streamline order processing, improve customer satisfaction, and optimize operational logistics management for multi-channel retail businesses, whether B2C or B2B.
The primary goal of an order management system (OMS) is to furnish users with comprehensive information about the demand for goods or services at a specific moment and to offer effective tools for managing those orders, including delivery options, payment, and notification systems.
What is the function and significance of OMS?
- Using OMS makes customers happier. When orders are managed well, they are processed accurately and quickly, improving delivery speed. Happy customers who value dependable service and fast delivery are likely to come back and tell others about your business.
- Increased efficiency of operations. An order management system automates numerous facets of order processing, diminishing manual effort and the risk of errors. This enables the processing of more orders without a rise in staff costs.
- Efficient inventory management. Real-time monitoring prevents product shortages.
- Data-driven analysis. OMS gathers and analyzes sales, customer behavior, and supplier performance data. It aids in making informed strategic decisions, forecasting demand, and optimizing inventory and marketing.
- Financial management. Order management directly influences the company’s financial position, with accurate data assisting in planning and budgeting.
- Scalability. A robust system can swiftly scale as the business expands, accommodating more products and orders.
- Strengthening relations with partners. Effective order management simplifies communication with suppliers and partners, ensuring timely deliveries and efficient order fulfillment.
- Adherence to standards and error reduction. Order management systems assist in complying with regulations and preventing errors during order processing.
- Enhancement of sales. Well-established processes and seamless operations contribute to successful sales, consequently boosting the company’s profits.
Ability to modify orders in Magento by default.
Of course, mistakes are possible during the work process. Next, there arises a necessity for order modification.
By default, Magento restricts the ability to edit most order details. Instead of implementing changes, you have to cancel the existing order and generate a new one. Unfortunately, this method is time-consuming and inconvenient for both you and the customer, and it can potentially result in errors when creating a new order.
Moreover, Magento doesn’t exhibit complete details in the order grid, requiring managers to open an order to view the details.
There are several drawbacks to canceling and recreating the current order:
- Time wastage. Canceling and creating a new order consumes additional time that could be utilized more efficiently. This is especially important in situations where every minute counts.
- Potential loss of information. Cancellation of an order may lead to the loss of specific customer information or details about their order.
- Errors in accounting. Transferring to a new order can introduce errors in the accounting of goods and create confusion in the system.
- Negative impact on statistics. Canceling an order may affect store statistics.
Ways to Manage Orders Better
- Pick a good OMS. A dependable tool can make your job easier, boost sales, and make your store more efficient.
- Keep an eye on inventory. Watching it in real time helps avoid selling too much, running out of products, and delays in orders.
- Process orders in one place. Centralized order processing. Having all order data in one place is convenient. This visibility helps in avoiding mistakes.
- Automate repetitive tasks. The right tool will help you automate your routine, which will save you time and help you avoid mistakes.
- Effective communication. Establish clear communication in the company and with customers. Keep customers informed about their order status and make sure your team knows about any issues or delays.
- Make sure the products are of good quality by taking steps to avoid shipping wrong or defective items.
- Keep an eye on key performance indicators (KPIs). Check order-related KPIs regularly, such as order fulfillment time, accuracy, and customer satisfaction. Use this information to find areas where you can improve.
- Flexible order editing. The ability to edit an order without canceling it provides a time-saving and confusion-free solution.
Introducing the Magento 2 Order Management Extension by Mirasvit
This tool enhances order processing speed and accuracy by adding necessary information to the order grid and enabling easy modifications without canceling orders.
Edit products, shipping information, invoicing, apply discounts, and more effortlessly. Generate order, invoice, and shipment numbers conveniently.
The Magento 2 Order Management Extension by Mirasvit comprises the following components:
Order Editor. Easily edit and correct orders swiftly and without hassle.
Advanced order grid. Get more details in your order list. More columns and filters to keep everything under control.
Custom order number. Create your unique numbers for orders and other documents. It helps to organize everything.
Order tags. The ability to attach tags to orders was added. It is an easy way to categorize and find the orders you want.
Order history and timeline. Get a complete history of everything that happened with each order. Nothing will go unnoticed here.
Quick viewing of orders. View order details quickly and conveniently without leaving the current page.
The main features of the extension
Order Editor.
- Change the status, number, and date of the order.
- Edit payment, shipping, and order details.
- Modify the list of products: add, delete, and change the price and quantity.
- Set the tax rate and insert discounts.
Automatic recalculation of the order.
- List prices, taxes, and discounts automatically.
User document numbers.
- Create unique templates for numbering orders, invoices, and shipments.
Support for multi-page viewing.
- View information about products and documents in a convenient list.
- Get more details about products, billing, and shipping on the “Order” page.
Mirasvit clients share their positive impressions about the expansion:
“I use 12 Miravit modules; all of them are beautiful, and my sales are increasing
support is beneficial.”
“MY WEBSITE IS 5 TIMES FASTER NOW, THANK YOU.”
If you want a reliable and convenient OMS, visit the Mirasvit website and learn more about this great tool.
Conclusions
Efficiently managing an increasing volume of orders is essential for e-commerce success, making a centralized system like the Magento Order Management System (MOM) by Mirasvit crucial. This system streamlines the order lifecycle, offering a unified inventory, payment, and delivery management platform across various channels.
MOM improves customer contentment and operational logistics for both B2C and B2B enterprises through real-time inventory management and global sourcing capabilities. Nevertheless, the inherent constraints in order flexibility and visibility within Magento can impede overall efficiency.
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