Logistics companies make progress happen with best practices. Organizations that lower overall returns with relevant return management technology such as ReverseLogix are at the top of the pack. If you want to make good on the promise to satisfy every customer, you will find materials and products flow efficiently, and that you have a handle on things from all angles.
Get your hands on actionable data now
Capturing data at the lowest level is only half the job done. You must have the means to analyze data effectively as well. Assumptions can lead to trouble, and without relevant and usable data the only option is to assume. In the age of information overload you must have the tools to extract meaning from an overwhelming barrage of information. Web-based tools are available, and in the hands of a talented and focused team, these tools allow you to turn relevant data into action. Actionable data can help you not only with reducing overall returns but also with maximizing asset recovery and monitoring loss prevention.
Give reverse logistics the attention it deserves to recover maximum value
You already know that the value of a product declines with the length of time it spends in the system. To recover the value, you must work for minimizing the time any product stays within the reverse system. Think about allotting resources to develop reverse logistics capabilities on improving cycle time, security, inventory management, and building customer loyalty and satisfaction. Also, consider separating reverse logistics functions and having a single department handle it. You can start by assigning an individual to returns management so that it gets the attention it deserves.
Solicit outside help to accomplish the ultimate goal
To eliminate returns, you’d have to live in an alternate universe. Here, in the real world, the smart goal is to reduce returns or keep it to a minimum. It starts with having and implementing a responsive product returns management process based on common sense. You can create visibility by automating returns. This is a strategy many logistics companies have taken on with positive results, and some have done so by soliciting outside help. Reverse logistics expertise may not yet be found within your organization. Consider engaging outside help with a partner who has the experience and skill to implement a plan that will deliver the bottom line.
Unleash profitability by strengthening all aspects of your operation
By reducing returns, you are lowering costs and boosting the system’s efficiency. Nevertheless, success in logistics is defined by facilitating the rapid and cost-effective movement of goods across the supply chain. While optimizing the reverse supply chain strengthen processes and policies and invest in infrastructure.
Forward logistics and reverse movements of products present unique challenges and opportunities. You will have your hands full trying to reach targets for speed, visibility and control. As a new year unfolds, take the time to review your existing processes and think about ways of improving sustainability, increased turnover, and profitability as you work towards facilitating a smooth flow of products from the manufacturers to the consumers.
