Infor launches solution for network order management for the retail sector
The new solution of Infor for management of the orders allows companies improve the experiences with the customers, optimize DC of stores and eliminate having the inventory sub-used
Infor announces the launch of Networked Order Management solution, with the aim of helping companies and retail businesses improve the shopping experience of multiple channels, allowing greater flexibility to manage inventory. This new solution optimizes the existing network between Infor GT Nexus, the largest business network in the world that includes more than 55,000 companies and that has 6 of the 10 logistics companies and more than 40 financial institutions.
This solution improves customer service by optimizing the use of inventory throughout the supply chain network, reducing stock faults, saving sales and shortening delivery times of products.
“This new solution for order management benefits customers by leveraging the inventory available” says Wade Gerten, Senior Vice President, Retail R & D, Infor. “Infor Networked Order Management has greater access to the options than before to comply with them. This includes shipments, inventory in transit, warehouses of retail companies, network partners and also inventory throughout the network, which was not possible to achieve in the past”.
Infor’s Networked Order Management solution also facilitates the offering of multiple options to customers that include online purchase, in-store withdrawal, online purchase – in-store shipping, and a mix of different item recalls. These complex transactions can be managed within a single transaction directly against the customer. The mobile store component shares the same modern UX (user experience) that other stores use with products at point of sale, clientele, and inventory management warehouse. The UX is intuitive enough and there is no need for users training in the store.
The solution for the product configuration of Infor will be integrated with this new solution for order management, facilitating the creation of its own products and increasing the conversion rate of ecommerce purchases, billing by order and loyalty to the company.
Infor’s AI platform, Coleman, will take advantage of this new solution to determine the best way to manage options by focusing on the customer. For example, if inventory is limited, the available product can be assigned first for customers or to incentivize new customers and markets. Coleman also optimizes decisions not only by learning in the most efficient way which is the best source of the product, but also accelerates the delivery to the highest value customers.
Infor’s modern cloud management strategy greatly reduces the cost and complexity typical of older order management systems. The cloud is more than an implementation strategy for Infor. By creating ecosystems in a network and providing the massive computational power needed for machine learning, the cloud allows problems to be accessed and resolved in ways that were previously not available in previous systems.
Corey Tollefson, General Manager and Senior Vice President of Infor Retail added, “We are excited to provide the industry with a network strategy based on machine learning for order management. This solution is the basis for our ecommerce platform, which was developed to provide sales through multiple channels and an alternative fulfillment for modern retail. Greater value is achieved by combining the integration of solutions for supply chain management, warehouse management, transportation management, and product configuration”.
This new tool for the management of orders not only breaks the traditional barriers between digital commerce and the on-site store, but also creates an opportunity for cooperation between companies and retail businesses to unify and provide better service to customers.