Our Mission to Make Retail More Sustainable
At Optoro, we’re transforming retail by eliminating waste from returns. Inefficient reverse logistics in customer returns is responsible for 5 billion pounds of waste and 15M metric tons of carbon emissions every year in the U.S. alone. With better technology, retailers can manage returns in a more sustainable way, reducing waste and enabling a circular economy. Learn more about how solution has a positive impact on the environment in our annual impact report.
Our technology platform uses data science and machine learning to route each returned product to the next best pathway, be it recommerce, donation or recycling. By partnering with leading retailers and brands, we’ve achieved the following to date:
Traditionally, returned and excess inventory is sold in bulk, then shipped multiple times over the course of several months before reaching an end consumer. This process is inefficient and wasteful, and provides almost no transparency on the full life cycle of a product. Our software gives store and warehouse operators unit-level accountability to ensure each returned product is routed to the most optimal path. We give retailers tools and data to make their reverse supply chain as efficient as possible, with a focus on reuse and resource maximization. Retailers using Returns Optimization Platforms are able to divert over 99% of returned product to landfill, eliminate waste by up to 70% and reduce emissions by 51%. Read more in our whitepaper on Sustainable Reverse Logistics.
Using a Returns Optimization Platform to manage returns gives retailers unit-level data on where every returned unit ends up in the supply chain. If products are not functional or cannot be resold, Optoro works with certified downstream partners who refurbish, harvest parts, or properly recycle them. Optoro protects consumer privacy and data for all electronics. With Optoro, retailers gain insight on the volume of product being resold, recycled and disposed as well as cost savings associated with each of these channels.
Close the Loop
The move to create circular systems in retailers is growing fast. According to Gartner, 58% of supply chain leaders will implement circular economy activities in the next year. Returns are a critical component of creating a circular system in retail. Using an Returns Optimization Platform gives retailers tools to instantly relist returned products to recommerce channels, route products that need repair to refurbishers, or recycle materials that can be manufactured into new products. Read more in our whitepaper, Technology to Power the Circular Economy.