Concerns about your business are never more founded then when it’s time to ensure data security in disposing of outdated or damaged technology.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
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.
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
No two snowflakes are identical and no two customers are exactly alike. We know this from the plethora of marketing research that has been done, attempting to identify the best single way to approach online sales. But you are not trying to appeal to a single type of shopper. You are trying to reach a myriad of different types of shopping personalities.Read More
Drowning in a sea of warranty returns? You are not alone. It is that special time of year when warranty returns, combined with other product returns, can physically overtake your warehouse and what feels like every spare moment of your time. If your stress level is on the rise and your valuable employees are more focused on returns from yesterday than the business of tomorrow, you need a solid strategic solution. A third party logistics service provider can help create a customized plan to maximize results.Read More
It is that time of year when the pressure to deliver- and dare we dream- excel, with excellent customer service, inventory management, shipping schedules, and the inevitable influx of returns, can completely overwhelm the flow of your business. Trying to maintain your profit margins and your sanity, often with limited staff and high volume consumer demands, is a very real challenge that many businesses must overcome.Read More
Managing your company’s online store can be a daunting task, especially during the busiest periods of the year when demands for your attention may outweigh the hours in any given day. This stress has become an expected aspect of doing business for many companies that rely on Business to Consumer (B2C) or Business to Business (B2B) online sales channels. So naturally, finding easier methods of management and support for your online store is critical, not just for today’s bottom line, but for your company’s future growth.Read More
A company can see warranty returns as either a hassle or an opportunity. If you are questioning how this aspect of your business can be viewed with positivity, you may require a better solution to expertly manage your warranty returns and eliminate the hassle, for both you and your customers.Read More
Let’s face it, dealing with product returns can be a time-consuming, challenging aspect of doing business. It is, at best, one of your least favorite tasks and, at worse, a huge source of stress and uncertainty. But when you have a solid strategic plan in place to manage, track, and quickly resell returns, the weight of this responsibility suddenly lifts and you can be assured of profitable ROI.Read More