Retailers across the country use Optoro to create more value from excess and returned inventory.
Retailers are facing a growing set of challenges. Ecommerce sales are increasing, and with them come return rates that can be as much as four times higher than traditional retail return rates. In addition, omnichannel investments are optimizing fulfillment but creating reverse-related problems, such as inventory becoming “stuck” at the store when an online return doesn’t match SKUs carried in the physical location.
These challenges threaten to add cost and complexity to retail budgets that are already under pressure. Retailers looking to remain competitive in this shifting landscape must turn their returned and excess inventory into assets. Optoro helps retailers improve their customer experience by providing returned and excess handling they can count on.
Improving return-right utilization
Many retailers manage vendor return rights and agreements through spreadsheets and email. This leads to complicated and confusing processes that often deliver less than their maximum allowable return percentages.
Optoro’s customers use Return to Vendor management tools that deliver near-100% utilization through item-level tracking and reporting. With these tools, they reallocate labor, improve recovery, and improve negotiations with vendors and suppliers.
Sustainable Reverse Logistics
The retail industry faces a large and growing challenge in managing the 3.5 billion products consumers return every year, resulting in financial losses as well as environmental impacts, including 4 billion pounds of waste and 11 million metric tons of carbon emissions.
Optoro has developed an environmental impact model to quantify the environmental benefits retailers can achieve using sophisticated reverse logistics management systems. We use our model to measure carbon and waste savings for every returned and excess product in a retailer’s reverse supply chain. To date, we’ve seen waste and carbon savings of up to 60% and 31% respectively.
Optoro can work with retailers of any size to quantify the impact of the reverse supply chain. Click here to contact our sustainability team for a free baseline assessment.
Efficient handling of shallow inventory
Effective returns management requires the ability to receive and process a wide but shallow mix of inventory. Returns Centers therefore need to configure their space and train their staff for inventory they cannot anticipate, which results in inefficiencies throughout the system.
With Optoro, retailers can receive and remarket diverse inventory without worrying about warehouse inefficiency or oversells. That’s because of Optoro’s warehouse management tools specifically designed to facilitate reverse operations and its software that optimizes marketplace listings of single items.