What does Order Management System (OMS) mean?
An order management system (OMS) is a comprehensive business tool that is used to track orders, inventory and sales. An order management system helps to accomplish order fulfillment transparently, and ideally, provides multichannel support.
Techopedia explains Order Management System (OMS)
When experts talk about why businesses need an order management system, channel proliferation is one major aspect. Businesses want to have a central portal that can accept orders and payments across all channels, while also handling inventory and order tracking. The order management system needs to work well with a back end for accounts payable and accounts receivable. Order management systems are very much in play in today’s businesses as companies modernize IT operations in a way that is scalable and supports multiple channels in a complex consumer market.
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