Retail Solutions: Is a DOM Critical?
A growing theme in the retail industry is the idea of going back to basics. Get the basics done well to deliver what customers really want. Specifically, that message targets retail solutions. Rather than focus on interesting new tech which is frilly, get your core systems down. More customers now expect in-store pickup as a basic retail shopping method. As such, a DOM (distributed order management system) is the critical system to make it possible.
Retail Solutions: Back to Basics Of course, it's easy to think of retail solutions on the front end. The store is the main part of the retail environment. It is true of both the online and offline world. This is the sexy part, where customers interact, learn and shop. And, over the past few years, retail solutions that caught attention were the cool new whizbang concepts. Digital mirrors, AR, VR, AI, in-store robots, Bluetooth beacons, clienteling, and directional sounds have been the craze. These are all great and very exciting. However, there is an underlying theme tugging retail solutions back to the basics. Today's retail is a complex network of systems. The front end cash register, the point of sales terminals and systems, are important. But, it is easy to forget the supply chain. This is where we are perceiving an undercurrent of 'back to basics'.
Omnichannel Rising IHL points out that "the area of greatest growth in retail - Buy Online Pickup in Store (BOPIS), which was up over 46% for the holidays." Yet, for many advanced retail economies, BOPIS (click & collect) is still in its early stage. As an example, BOPIS penetration in retail is only: 27.5% for United States
31.0% for Canada
31.4% for Australia We definitely have a market gap that needs to close fast.
Closing the Gap Part of closing this gap is making a decision at the retail level. Part of it is also focusing on the core, non-frill, retail solutions that are core to merchants. It means focusing on high-quality systems that enhance customers' experiences. This, across both the online and offline retail spaces. It means getting core functionality, like providing a view of inventory online and in-store. Naturally, that has to be a real-time inventory view, not batch processed overnight. Full services like the in-store pickup, are just the basics, today. But basics need systems and processes to make sure they are done well. That's why distributed order management (DOM) systems are part of the core needs. A DOM optimizes your resources to get the job done. It... provides the inventory visibility that customer wants,
gives your staff the single global view of the shopper,
processes accurate orders,
optimizes order fulfillment, and
makes that seamless buying journey a reality.
Retail Solutions - Not in a Vacuum Order management solutions are the central unifier that keeps retail solutions together. Even traditional order management systems (OMS) are the hub that creates unified commerce solutions. The OMS / DOM is the heart of unified commerce that makes omnichannel retail a reality. Cloud-based systems (the DOM), makes it all easier, less expensive and means you are always up-to-date.
Is a DOM Critical? [caption id="attachment_11463" align="alignright" width="266"] Source: Simon Rodrigue, Staples.[/caption] Simon Rodrigue, SVP & Chief Digital Officer of Staples discussed how in-store systems have to catch up. This followed by Alexandre Toulemonde, CTO of Decathlon, who pointed out the need for retailers to get back to getting the basics right. Certainly, that means lining up both the traditional systems and processes, with the newer ones you have deployed. I point out that as one of the most critical retail solutions, your DOM has to be the top priority. It both lets you get the basics right. It also ties in your new and old systems to make the most of them. Finally, it also makes omnichannel options like the in-store pickup, a reality. Thinking about retail solutions? Then consider your DOM critical! Author: Charles Dimov is VP of Marketing at OrderDynamics. Charles has 23 years experience in Marketing, Sales and Management across various IT and Technology businesses. Previous roles include Chief of Staff, Director Product Marketing, and Director Sales. Charles has held roles in brand name firms like IBM, Ericsson, HP, ADP, and OrderDynamics. Back to List View