Order lifecycle management (OLM) is important for firms to assist them streamline their order process flow from order placing to delivery services. It is aimed to deliver a smooth experience for both consumers and businesses when the order reaches a customer.
New, Pending Payment, Processing, Complete, Closed, Canceled, On Hold, Payment Review are the pre-defined states in Magento. Processing, Pending Payment, Suspected Fraud, Payment Review, Pending, On Hold, Complete, Closed, Canceled, and Pending PayPal are among the pre-defined order statuses.
Go to the admin panel and log in.
Select Stores > Settings > Order Status from the drop-down menu.
Select "Create New Status" from the drop-down menu.
In the Order Status Information section,
Enter any labels you need for different store views in the Store View Specific Labels area, as seen here:
Save the status by clicking the Save button.
The work order life cycle is the process of managing a work order in an organization. It is a continuous loop that starts with an idea or request for service, continues through the planning phase, goes to execution and ends with the completion of service.
1st, create (or receive), 2nd, maintain and use, and 3rd, dispose.
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