Stord, a leader in fulfillment services and technology for omnichannel mid-market and enterprise brands, today announced its expanded order management system (OMS) software offering.
Stord One Commerce is a purpose-built OMS software for high-volume brands that need to manage orders and inventory across multiple facilities and sales channels. To better support brands as they expand into new DTC and B2B channels, and add fulfillment locations, Stord is announcing additional capabilities for smarter and more cost-effective order routing, multichannel inventory management, and last-mile optimization.
Currently, many brands store product inventory across a network of locations and rely on a static, rules-based approach to determine which facility fulfills an order. This can increase their overall fulfillment costs—including last mile—and decrease their customer satisfaction with out-of-stock messages or lengthy delivery timelines. This approach prevents brands from adapting to external changes such as 3PL failures, carrier surcharges, supply delays, or changes in demand.
The Stord One Commerce Order Routing add-on helps brands with a multi-node supply chain network continuously meet rising consumer expectations.
Stord’s Order Routing automatically routes orders to the fastest, most cost-effective fulfillment location with “ship full” availability based on facility capacity and total inventory. It can direct orders to be fulfilled from a specific location, eliminate the need to pre-determine fulfillment locations, and automate order splitting based on a brand’s preferences.
81 percent of retailers are planning to expand the number of digital channels they sell on in 2023. But when it comes to fulfilling orders for multiple sales channels, most brands are stuck with a rudimentary, piecemeal strategy. Typically, brands will physically separate inventory in their warehouse(s) or 3PL facilities in order to fulfill orders for each sales channel, and even create distinct channel-specific SKUs. This can lead to unnecessary out-of-stock messages, substantial operational inefficiencies, and added complexity and cost from increased SKU count.
The Stord One Commerce Multichannel Inventory add-on greatly improves and optimizes this process by letting brands easily reserve inventory per channel, specify minimum inventory availability levels for certain SKUs or channels, and gain visibility of their inventory to meet channel-specific customer promises.
With Multichannel Inventory, brands can also prioritize fulfillment for specific accounts or partners and set automated fulfillment workflows for specific channels, such as how to handle backorders and inventory shortages.
With Multichannel Inventory, brands can increase sales revenue and capture more demand by eliminating missed sales opportunities from out-of-stock inventory across channels while controlling inventory availability on a channel-by-channel basis.
Last-mile delivery is often the largest cost center within supply chains, amounting to 41 percent of all spend. To meet customer expectations, most brands are overspending, either by relying on a single carrier for all parcel delivery or by selecting a faster, more expensive parcel service level to ensure on-time delivery.
With the Stord One Commerce Last Mile Optimization add-on, brands can save up to 12-15 percent on parcel spend through advanced modeling and optimization that automatically identifies the right carrier service level for each order based on billions of historical data points. This way, brands can stop spending on a higher service level than is actually needed while still meeting customer expectations for fast delivery.
“Since Stord’s inception, we’ve built best-in-class technology and logistics in tandem in order to best serve high growth, omnichannel brands,” said Sarang Damle, Director of Product, OMS of Stord. “Our new Stord One Commerce add-ons—order routing, multichannel inventory, and last-mile optimization—will help brands selling from multiple sales channels and with multiple facilities make smarter, more cost-effective decisions on their fulfillment, and deliver a superior customer experience.”