Cloud software provider Infor has developed a new solution aimed at helping brands and retailers improve omni-shopping experiences by enabling a new level of flexibility in orchestrating inventory.
Infor Networked Order Management enables companies to improve omni-channel customer experiences, leverage stores as fulfilment centres, and tap into an underutilised supply of global inventory.
This new solution will leverage Infor’s GT Nexus Commerce Network – the world’s largest business network which includes over 55,000 companies, including six of the top ten logistics service providers, and over 40 global financial institutions.
According to the firm, this networked approach to order management improves customer service by leveraging inventory throughout the entire supply network to reduce out-of-stocks, save the sale, and shorten delivery lead times.
“Infor’s approach to order management better serves customers by taking advantage of inventory available across all network participants,” says Wade Gerten, senior vice president, retail R&D at Infor. “Infor’s Networked Order Management can access more fulfilment options beyond what has traditionally been available. This will include drop shipments, in-transit inventory, warehouses owned by retailers and network partners, and even store inventory across the network – all of which are nearly impossible with past approaches to order management.”
The new solution also makes it easy to provide multiple options for customers including buy online pickup in-store, buy online ship from store, and a mix of take-with and ordered items, which can all be handled within a single transaction in front of the customer.
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Meanwhile, the mobile in-store component shares the same modern UX that other Infor in-store products use for point of sale, clientelling, and store inventory management, while the UX is intuitive enough that training is no longer required when on-boarding store associates.
In addition, Infor’s Product Configuration solution will be tightly integrated with the new Networked Order Management solution making it easy for customers to create their own unique products and express themselves while increasing e-commerce conversion rates, revenue per order, and brand loyalty, says Infor.
The firm’s AI platform, Coleman, will leverage the new solution to determine how best to manage fulfilment options at scale and in a more customer-centric way. For example, if limited inventory exists, available product can be allocated first to customers or to support the acquisition of new customers and markets. Coleman also optimises fulfilment decisions by not only learning the most efficient way to source products but also by making it possible to auto-accelerate delivery for higher value customers.