About the Episode

We are here at Shoptalk 2024 at the Mandalay Bay in Las Vegas, where retailers and the platforms that support them are gathered to talk about reimagining retail for the omnichannel consumer.

In the retail world, social media virality blows up brands overnight, but a great supply chain strategy is critical to keeping customers. So much so, 77% shoppers will write off a brand after experiencing shipping delays, according to Körber Supply Chain Software. 

Today we’re going to talk about how retailers can keep pace with customer expectations via sophisticated solutions, like order management software (OMS). 

To help me discuss this topic, I’d like to welcome Craig Moore, VP of Sales at Körber Supply Chain.

About Craig Moore

Craig Moore is Vice President Sales North America for Körber Supply Chain Software. Focused on digital and automation capabilities of Körber‘s solutions, he works with prospects and customers to enable their supply chains. Craig’s previous roles in sales and sales management allowed him to work with retailers, manufacturers, distributors and many other points of influence within global supply chains. Identifying supply chains as mission critical systems and addressing their constraints is his professional motivation which is why he chose to continue his professional engagement within the industry. He joined Körber in 2011 (formerly HighJump, acquired by Körber in 2017).The introduction of technological improvements and the adoption of these new technologies in the supply chain is creating a complex landscape. With the supply chain at the foundation of an organization’s strategy execution – both in response and direction – he sees Körber as the world leader in providing digital, automation and services to tie it all together. His aim is to “listen first” to find the right solutions upon understanding a customer’s requirements and help them dominate the markets that they serve. This also includes taking them on to the path of continuous process improvement by leveraging their partnership with Körber. Craig spends his time off mountain biking and surfing.

Resources

• Korber Supply Chain website: https://www.koerber-supplychain-software.com/en

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Synopsis

Evolving Customer Expectations in the Retail Industry

Customer expectations in the retail industry are rapidly evolving, placing a strong emphasis on speed and convenience. As discussed in the podcast episode, modern customers expect quick and seamless access to products. The traditional in-store shopping experience is being replaced by the convenience of online shopping, where customers can receive their orders at their doorstep within a short timeframe.

Retailers are under increasing pressure to meet these changing customer expectations. The demand for swift delivery, often within 24 hours, has become the standard. Customers expect their orders to be fulfilled promptly, and any delays in shipping can result in dissatisfaction and potential loss of customers. Research mentioned in the episode reveals that 77% of shoppers are likely to abandon a brand due to shipping delays.

To tackle these challenges, retailers are turning to advanced solutions like Order Management Software (OMS). OMS plays a vital role in consolidating orders from various channels, providing visibility into inventory levels, and facilitating efficient order fulfillment processes. By leveraging OMS, retailers can streamline their operations and meet the demands of today's fast-paced retail environment.

Looking ahead, the future of customer expectations in the retail industry will continue to center around speed and convenience. The demand for quick delivery times is expected to intensify, with customers anticipating even faster turnaround times for their orders. Retailers will need to invest in technologies that enable them to fulfill orders rapidly and deliver seamless customer experiences.

In conclusion, the retail industry is witnessing a significant shift in customer expectations, with speed and convenience emerging as top priorities. Retailers must prioritize meeting these evolving expectations to remain competitive and retain customer loyalty in an increasingly digital and fast-paced retail landscape.

Order Management Software (OMS) is a critical tool in the retail industry, as highlighted in the podcast episode. OMS plays a crucial role in consolidating orders from various channels, providing visibility into orders, and managing inventory effectively.

Consolidating Orders: OMS helps retailers consolidate orders from multiple sources, whether online, in-store, or other channels. By centralizing order-taking mechanisms, OMS ensures retailers have a clear view of all incoming orders, enabling efficient processing and fulfillment.

Managing Inventory: With the rise of omni-channel retailing, managing inventory across different channels has become increasingly complex. OMS helps retailers track inventory levels accurately and ensures orders are fulfilled from the most suitable location, whether a store, warehouse, or fulfillment center. Real-time inventory management is essential for meeting customer expectations and avoiding stockouts or delays.

Meeting Customer Expectations: In today's fast-paced retail environment, customers expect quick and seamless order fulfillment. OMS plays a crucial role in meeting these expectations by streamlining the fulfillment process. By providing insights into order status, shipping times, and delivery options, OMS enables retailers to deliver a superior customer experience. Additionally, OMS facilitates processes like returns management, ensuring customers have a smooth and hassle-free experience even when returning products.

Overall, Order Management Software is a key enabler for retailers looking to optimize their fulfillment processes, improve inventory management, and meet the evolving expectations of today's customers. By leveraging OMS effectively, retailers can enhance operational efficiency, drive customer satisfaction, and stay competitive in the dynamic retail landscape.

The Future of Order Management Software (OMS)

In the podcast episode, Craig Moore, VP of Sales at Körber Supply Chain, emphasized the importance of Order Management Software (OMS) in meeting customer expectations for seamless experiences. Looking ahead, the future of OMS will continue to focus on enhancing customer experiences by prioritizing quicker delivery times and efficient returns processes.

Quicker Delivery Times:

• Customers increasingly expect faster delivery times, with the current standard being 24 hours for many retailers. However, as technology advances and customer expectations evolve, the 24-hour delivery window may become insufficient.

• The future of OMS will likely involve even faster delivery times, potentially moving towards same-day or even within-hours delivery options. Retailers will need to optimize their supply chain and fulfillment processes to meet these heightened expectations.

Efficient Returns Processes:

• Streamlining returns processes will be another key aspect of the future of OMS. As mentioned in the episode, a seamless returns process is crucial for maintaining customer satisfaction and loyalty.

• OMS will play a vital role in facilitating efficient returns by providing visibility into the return process, ensuring timely refunds or exchanges, and enhancing communication with customers throughout the return journey.

Implications for Brands:

• Brands that invest in advanced OMS capabilities to meet future customer demands will gain a competitive edge in the market. By offering faster delivery times and seamless returns processes, brands can enhance customer loyalty and satisfaction.

• Efficient OMS systems will also enable brands to adapt to changing customer behaviors and preferences, such as the increasing demand for convenience and speed in shopping experiences.

The future of OMS will revolve around providing seamless customer experiences through quicker delivery times and efficient returns processes. Brands that prioritize these aspects of OMS will be better positioned to meet the evolving expectations of customers and drive success in the retail landscape.