Streamlining Order Management for Small Businesses
Sep 8, 2022
For many small businesses, one of the biggest challenges is managing orders efficiently. A streamlined order management system can save you time and money, while also providing your customers with better service.
There are a few key tasks to consider when implementing processes to streamline your order management:
Implement a System That Will Give You Real-Time Inventory Level Reporting
Having a clear understanding of your current and required inventory levels helps small businesses to make good ordering decisions. The best way to do this is to use inventory management software that can give you real-time data on your stock levels.
Automate Ordering Rules
A good inventory management system will also automate reordering when stock levels reach a certain point. This ensures that you never run out of inventory, while also avoiding the wasted time and money associated with overstocking. One of the biggest opportunities for small businesses to increase their cash flow is optimizing the efficiency of their inventory turnover. Having the right amount of inventory to service customer demand, but not so much inventory that you are incurring costs for holding that inventory is key.
Use Technology to Your Advantage
Utilize barcoding, scanning and other tracking technologies to ensure orders are processed quickly and accurately. This data can also be used to speed up order fulfillment, streamline warehouse operations and provide insight into customer trends and help you make decisions about future inventory levels. Small businesses should try to automate as much of the order management process as possible. This includes tasks like sending out confirmation emails, generating invoices, and updating your accounting ledger.
Ensure Your Return and Refund Policy is Clear
Processing refunds and returns increases the administration required to complete an order, and can silently eat up profit margins across your product lines. Having a clear returns and refunds policy in place helps to minimize the percentage of orders that need additional processing. This will also help reduce the number of customer service issues that can arise from unhappy customers.
Why should small businesses consider upgrading their order management system to NetSuite for Small Business?
NetSuite for Small Business is a comprehensive cloud-based business management software suite that offers advanced order management capabilities. NetSuite for Small Business gives small businesses the ability to:
Automate their inventory management processes
Get real-time data on stock levels
Streamline their warehouse operations
Improve customer service
Make better ordering decisions
Interested in Learning More About NetSuite for Small Business?
NetSuite for Small Business is an affordable, all-in-one business management software solution that can save small businesses time and money and offers small business owners the opportunity to manage their entire business in one cloud application. NetSuite offers everything from CRM, accounting and order management through to e-commerce, inventory management and shipping.
If you are a small business owner looking to streamline your order management processes, NetSuite for Small Business is the perfect solution for you. Contact CEBA Solutions today to learn more about how NetSuite can help your business grow.