Order management process, a noun phrase, refers to the sequence of activities involved in receiving, processing, and fulfilling an order. For instance, when you order a book online, the process encompasses receiving your order, verifying payment and inventory, picking and packing the book, and shipping it to you.
This process is critical for businesses as it affects customer experience, inventory accuracy, and profitability. By optimizing the order management process, businesses can improve order fulfillment speed, reduce costs, and enhance customer satisfaction. A notable historical development in order management was the advent of enterprise resource planning (ERP) systems in the 1990s, which brought a comprehensive view of an organization’s operations and streamlined the order management process.