B2B order management involves the fulfilment of orders between companies. The main difference between B2B and B2C is, in B2B, the orders are bulk. Additionally, they are pricier. With the amount of work involved in the various B2B order management systems, it is no wonder that some challenges are facing B2B enterprises.
In this article, we are going to look at the various challenges in online B2B order management.
Let’s delve into specifics:
- Late deliveries
Some clients want their products delivered in unrealistic timeframes that are not business-critical. However, whether in B2B or B2C, late deliveries are bad for business. For starters, they leave clients disgruntled and go a long way in ruining the reputation of a business.
In B2C, late deliveries might lead to loss of money. Normally, a couple of dollars. However, in B2B, losses incurred can run to unimaginable levels – even millions of dollars.
The effects of late deliveries can further cause cancelled contracts and chargebacks. These consequences are catastrophic to a business because a single customer in B2B relationships can be worth hundreds, thousands, or even millions of dollars.
- Remote accessibility of inventories
To ensure order management is effective, there is a need to have access to your inventory from all locations. You need to remotely see delivered orders, pending deliveries as well as those in transit.
Without this accessibility to inventories, you are likely to lose orders and fail to meet deadlines, which is detrimental to your business.
- Responding to orders
Order response SLA’s are a gem when it comes to responding to orders. Unfortunately, it is only established businesses that have them.
To better manage your company, a fast response to B2B transactions is imperative. Some B2B customers want their order requests responded to in a matter of minutes. They need to know whether you possess the ability to meet their orders. Failure to which, they seek the services of your competitors.
- Meeting customer demands
We are all different in one way or the other. The same applies to business.
B2B customers have varying demands. Some of them are very specific and want their orders customized according to their preferences. Considering that B2B orders are large and bulky, meeting these demands can be challenging. Especially, if you have several customers with different demands.
As such, B2B companies need to come up with strategies to ensure customer satisfaction. These strategies should be aimed at addressing the specific pain points of each client.
- The need for customer-specific pricing
Customer loyalty does not happen over-night. These types of relationships require nurturing, and that happens over time. The fastest way to break the trust is to handle loyal clients no differently than the way first-time clients are handled.
Clients need to feel valued and appreciated. That is how loyalty is built in the first place.
One way to appreciate repeat-clients is to come up with a pricing that is specific to their needs. Introducing a contract and investing in software that automates the pricing of each customer in regards to your B2B relationship is the best thing for the business.