What is order management?
Order management is the administration of business processes related to orders for goods or services.
An order management system (OMS) automates and streamlines order processing for businesses. An OMS provides constantly updated inventory information, a database of vendors, a database of customers, a record of customer returns and refunds, information on billing and payments, order processing records, and general ledger information.
Benefits of a well-implemented OMS include improved sales visibility, improved customer relations and efficient order processing with a minimum of delays and back orders.
Order management is important primarily in the retail industry, but also in the telecommunications, healthcare, pharmaceutical, financial and securities sectors.