Are you searching for ways to streamline reverse logistics for your organization? The Reverse Logistics Association defines reverse logistics as all activity associated with a product/service after the point of sale. The ultimate goal of reverse logistics is to optimize or make more efficient aftermarket activity, thus saving money and environmental resources.
Product returns and reverse logistics can be a costly operation. However, with the right strategy in place, it can be an efficient element of the supply chain.
Here are 3 ways to streamline reverse logistics.
Use Data to Reduce Time & Increase Efficiency
The longer a product is out of rotation, the more value it loses. Even if it is quickly returned to the store, the cost of shipping and handling can impact the revenue it delivers. Using data to establish KPIs can reduce time, labor, and other hard costs associated with the returns.
Align In-Store & Supply Chain Procedures
Implementing supply chain strategies at the store-level can create a more efficient and effective returns process. Understanding what products to return and how to get them where they need to be can greatly reduce costs.
Review the Process
Product returns are an expensive part of doing business. Discovering what triggers consumer returns can help reduce them. Implementing processes throughout the supply chain to mitigate the specific factors contributing to returns can not only decrease the volume, but tower the cost of reverse logistics.
Please take a look at the Reverse Logistics Infographic below.