An IDENTITY column might have gaps. Just imagine an insert which is rollbacked out of any reason...
You could use ROW_NUMBER() OVER(PARTITION BY CONVERT(VARCHAR(6),OrderDate,112) ORDER BY OrderDate) in order to start a sorted numbering starting with 1 for each month. What will be best is depending on the following question: Are there parallel insert operations?
As this order name should be unique, you might run into unique-key-violations where you'd need complex mechanisms to work around...
If it is possible for you to use the existing ID you might use a scalar function together with a computed column (might be declared persistant):
CREATE TABLE OrderType(ID INT,Name VARCHAR(100),Abbr VARCHAR(2));
INSERT INTO OrderType VALUES(1,'Normal Order','NO')
,(2,'Special Order','SO');
GO
CREATE FUNCTION dbo.OrderCaption(@OrderTypeID INT,@OrderDate DATETIME,@OrderID INT)
RETURNS VARCHAR(100)
AS
BEGIN
RETURN ISNULL((SELECT Abbr FROM OrderType WHERE ID=@OrderTypeID),'#NA')
+ '/' + CAST(YEAR(@OrderDate) AS VARCHAR(4))
+ '/' + REPLACE(STR(MONTH(@OrderDate),2),' ','0')
+ '/' + REPLACE(STR(@OrderID,5),' ','0')
END
GO
CREATE TABLE YourOrder
(
ID INT IDENTITY
,OrderDate DATETIME DEFAULT(GETDATE())
,OrderTypeID INT NOT NULL --foreign key...
,Caption AS dbo.OrderCaption(OrderTypeID,OrderDate,ID)
);
GO
INSERT INTO YourOrder(OrderDate,OrderTypeID)
VALUES({ts'2016-01-01 23:23:00'},1)
,({ts'2016-02-02 12:12:00'},2)
,(GETDATE(),1);
GO
SELECT * FROM YourOrder
The result
ID OrderDate OrderTypeID Caption
1 2016-01-01 23:23:00.000 1 NO/2016/01/00001
2 2016-02-02 12:12:00.000 2 SO/2016/02/00002
3 2016-10-23 23:16:23.990 1 NO/2016/10/00003