Infor, a provider of industry-specific cloud applications, has launched of Infor Networked Order Management, a solution aimed at helping brands and retailers improve omni-shopping experiences by enabling a new level of flexibility in orchestrating inventory. This new solution will leverage Infor's GT Nexus Commerce Network, which according to the company is the world's largest business network, including more than 55,000 companies, including six of the top 10 logistics service providers, and more than 40 global financial institutions.
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.
According to Wade Gerten, Senior Vice President, Retail R&D, Infor, the solution will enable brands and retailers to access an increased number of fulfillment 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," he said.
Infor's Networked Order Management solution also allows retailers 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. These complex transactions can be handled within a single transaction right in front of the customer. The mobile in-store component shares the same modern UX that other Infor in-store products use for point of sale, clienteling, and store inventory management. The UX is intuitive enough that training is no longer required when onboarding store associates, the company reports.
Infor's Product Configuration solution will be tightly integrated with this 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.
Infor's AI platform, Coleman, will leverage this new solution to determine how best to manage fulfillment 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 optimizes fulfillment 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.
Additionally, Infor's modern cloud-based approach to order management dramatically reduces the cost and complexity typically experienced with legacy Distributed Order Management systems, the company reports.