Order management is the administration of business processes related to orders for goods or services.
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An order management system (OMS) automates and streamlines order processing for businesses. An OMS provides constantly updated inventory information, a database of vendors, a database of customers, a record of customer returns and refunds, information on billing and payments, order processing records, and general ledger information.
Benefits of a well-implemented OMS include improved sales visibility, improved customer relations, and efficient order processing with a minimum of delays and back-orders.
Order management is important primarily in the retail industry, but also in the telecommunications, health care, pharmaceutical, financial, and securities sectors.