For many e-commerce retailers, one of the largest challenges of doing business today is dealing with the chaos caused by returns. If you are struggling with the reverse logistics process and the result is an ongoing battle to meet your goals, primarily because of return policies, it is time to rethink your strategy.Read More
How well do you understand your reverse logistics strategies? Do you know if you have the most cost-effective outbound shipment plan in place? Understanding the costs within your supply chain is just as important as reducing them. The more details you know and the more you understand about your reverse logistics strategy, the better you can manage efficiencies and maximize ROI.Read More
Concerns about your business are never more founded then when it’s time to ensure data security in disposing of outdated or damaged technology. A surprisingly high number – 80 percent – of organizations admit to losing track of assets during the disposition process.Read More
As the end of the quarter draws near, many companies are preparing for a corporate refresh of their IT equipment. For most, the process of keeping data secure and disposal of the company’s outdated assets can be a stressful, logistical nightmare.Read More
You love your business, but you hate dealing with returns. You are not alone. If you are like most, dealing with returns has consumed too much of your time, is constantly challenging, and somehow presents new dilemmas to solve on a regular basis. It drains you and your company’s energy, and you want this year to be different.Read More
A wide variety of businesses today, especially those in consumer electronic IT devices, depend on multi-channel online sales to drive their business. This format (omnichannel) is now widely utilized to market, sell, and distribute inventory, but these businesses also know that online returns are the biggest hurdle they must face in the smooth operation of their supply chains. This especially holds true in instances where the rule for returns is “the customer is always right,” a philosophy that holds true with the ecommerce giant, Amazon.
A recent survey found that online returns can run as high as 30%, which, of course, is incredibly costly and time-consuming for any business.
Added to the cost factor, 8 out of 10 supply chain experts who participated in that survey said the high cost of online returns to a store, particularly when the item is not carried in that store, makes a huge impact on the business’s bottom line.
So while online holiday sales boomed, a survey conducted by the National Retail Federation revealed that, this year, retail returns were higher than in previous years, with an estimated total of about $260.5 billion.
You may know it all too well; when your product is returned to a fulfillment center or supplier, your business incurs incremental freight costs, the possibility of shipping-related product damage, as well as a lost opportunity for a replacement sale in-store.
Unless you have fully integrated inventory and fulfillment between the online and actual store channels to assist with the overall omnichannel logistical challenges, you are probably feeling this impact on a daily basis.
As inventory makes its way through your supply chain, it is vital to be able to pinpoint its location at any given moment. But in many warehouse scenarios, inventory seems to develop the power of invisibility, perfectly ill-timed for that moment when it is suddenly crucial for you to identify its location. If this stress sounds all too familiar, it may be time to examine your logistic strategies and tracking system.Read More
Reverse logistics can be the black hole of your warehouse and a part of doing business that many of us don’t choose to focus on. But, if you manage a high volume of returns, the process you have in place may be costing you money.Read More
Sometimes too much of a good thing is, well, not so good for your business. Take inventory for example; your company needs it to meet customer demands, but what do you do when your inventory begins to take over the warehouse? Holding on to excess inventory ties up your capital, while bringing nothing in return.Read More