Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)

Most businesses have outdated order management methods

Study finds 88% lack intelligent fulfilment & service systems

In the September 2020 edition of Forrester's Opportunity Snapshot study (entitled 'Get Supply Chain Right'), the company surveyed more than 200 inventory management decision makers based in the US about their intelligent order management practices and rate of adoption. Many respondents reported having an intelligent fulfillment system in place for managing supply chains and fulfilling orders.

In practice, however, the study found that 88% of companies rely on at least one manual or rules-based process, which demonstrates a gap between respondents' perception of intelligent ordering and their established practices.

"Fulfillment infrastructures are complex, and they require sophisticated order allocation to fulfillment centers for rapid delivery. Intelligent ordering systems can help companies adequately balance demanding service expectations with inventory holding costs across a large distribution network," explained Sean Breeze, director of management consulting, Perficient.

The study also found that firms base their operational strategies and decision-making on metrics that distort incentives, citing a preference to secure the lowest unit cost by buying in bulk, rather than accurate demand forecasting, improved customer service, or return on inventory investment.

Companies that invest in optimization strategies to overcome their inventory management challenges report strong results. Specifically, the study found that the top benefits have the clearest ties to business results:

• 76% increase in revenue.
• 66% increase in profit margin; and
• 61% improvement in customer loyalty.

"Our study found that seven in ten firms say one delayed order is enough to lose a customer. The margin of error is razor thin, and it's only going to become more challenging," said Pawan Gupta, commerce solutions principal, Perficient. "Successful order management systems are unique in their ability to create brand loyalty and generate new revenue streams. When executed correctly and optimized with intelligent fulfillment, they demonstrate a unified commerce approach for sellers spanning all points along the customer purchase lifecycle."

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)