For decades, brands have poured research and development dollars into the process of getting physical goods to customers as efficiently as possible. Their efforts have led to an amazing transformation of the retail industry, including fulfilling your online order directly from a store near you, and offering same-day delivery. In the next few years we may see inventory traveling the country in autonomous trucks, and being delivered to homes via drone. But what about when a consumer returns something?
There has not been nearly as much innovation in the reverse supply chain. Historically, customer returns ranged from 2-5% of inventory, and were relatively easy to deal with at the store level. But that is no longer the case. With the rise of e-commerce shopping, brands are facing return rates as much as five times higher than traditional rates, as well as other complications related to consumers going to stores to return online purchases.
The rudimentary returns management systems and processes that brands have relied on for the past few decades cannot accommodate this complexity and industry leaders have turned to technology to provide a solution. Those brands are implementing Reverse Logistics Management Systems, a new category of software solutions that span the entire reverse logistics lifecycle and help create more value from returned and excess inventory. They find that RLMS help them increase inventory recovery, reduce warehouse costs, and increase visibility into their reverse logistics lifecycle.
But even so, RLMS are not yet a pervasive technology. Should they be? It is hard to say without a comprehensive understanding of what makes one. Through an examination of systems embraced by leading brands, this white paper attempts to define Reverse Logistics Management Systems and addresses:
- What are Reverse Logistics Management Systems?
- What specific types of values do these technologies deliver?
- What is required to create and implement one?
Download your free copy to learn more about this new technology solution and how it could help your brand recover value across the entire reverse supply chain.