Infor, a leading provider of industry-specific cloud applications, today announced the launch of Infor Networked Order Management, a new 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 - 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.
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," said Tarik Taman, VP and General Manager, IMEA, Infor. "Infor's Networked Order Management can access more 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."
Infor's Networked Order Management 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. 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, clientelling, and store inventory management. The UX is intuitive enough that training is no longer required when onboarding store associates.
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 ecommerce 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.
Infor's modern cloud-based approach to order management dramatically reduces the cost and complexity typically experienced with legacy Distributed Order Management systems. Cloud is more than a deployment strategy for Infor. By creating networked ecosystems and providing the massive computational power required for machine learning, cloud computing allows problems to be approached and solved in ways not available with legacy systems.
"We are excited to offer the industry a networked and machine learning-based approach to order management. This solution is a foundational layer in our new commerce platform which was built to provide an omni-channel selling and fulfillment alternative for modern retail. Even more value is unlocked when combined with our integrated supply chain, warehouse management, transportation management, and product configuration solutions," continued Taman.
This new approach to order management not only breaks down the traditional barriers between digital and brick-and-mortar commerce it also creates a coopetition opportunity for brands and retailers to come together and better serve their customers.
Infor builds business software for specific industries in the cloud. With 16,000 employees and over 90,000 customers in more than 170 countries, Infor software is designed for progress.
Source: Wallis PR