What is Order Sourcing?
In e-commerce, order sourcing refers to the process of determining the most optimal location from which to fulfill an order. This process is crucial for minimizing shipping costs and delivery times, thereby enhancing customer satisfaction and operational efficiency.
Challenges
Sub optimal order sourcing can result in a number of issues in the supply chain. Some of them are listed below.
Increased Shipping Costs and Delivery Times
Sub-optimal Inventory Distribution
Bad Customer Experience
Increased Returns and Handling Costs
Increased Carbon Footprint
While some of the above issues impact the retailer, some of the them impact the customer directly which can eventually lead to customer churn and bad sales on a longer term. So, having a best in class Order Sourcing Engine is essential for success in today's e-commerce industry.
Fenix Order Sourcing
To handle the above challenges, Fenix has built an Order Sourcing component from the ground up that helps retailers to choose the most optimal fulfillment location that improves the customer experience while keeping the shipping costs to a minimum.
Unlike traditional order sourcing systems that rely on static, rule-based configurations, Fenix adopts a comprehensive strategy in constructing its sourcing engine. This solution accounts for real-time data and incorporates historical shipping performance, inventory efficacy, and forecasting attributes to its sourcing process.
Key Features of Fenix Order Sourcing
Below are some of the key features Fenix looks at while sourcing an order.
Inventory Visibility
Accurate and real-time inventory visibility helps in understanding what the inventory positions are which help in routing the orders orders effectively.