APAC CIO Outlook
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Agile

    AI Healthcare

    Artificial Intelligence

    Aviation

    Bi and Analytics

    Big Data

    Cloud

    Cyber Security

    Digital Infrastructure

    Digital Marketing

    Digital Transformation

    Digital Twin

    Drone

    Internet of Things

    Low Code No Code

    Networking

    PropTech

    Remote Work

    Singapore Startups

    Smart City

    Startup

    Unified Communication

    Wireless

  • E-Commerce

    Education

    FinTech

    Healthcare

    Manufacturing

    Pharma and Life Science

    Retail

    Travel and Hospitality

  • Dell

    IBM

    Microsoft

    Salesforce

    SAP

  • Cognitive

    Compliance

    Contact Center

    Corporate Finance

    Data Center

    Data Integration

    Digital Asset Management

    Full Stack Development

    HR Technology

    IT Service Management

    Managed Services

    Procurement

    RegTech

    Travel Retail

Menu
    • SAP
    • Aviation
    • HR Technology
    • Manufacturing
    • Cloud
    • Data Center
    • Education
    • Salesforce
    • Digital Infrastructure
    • Bi and Analytics
    • Unified Communication
    • IBM
    • AI
    • MORE
    #

    Apac CIO Outlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIO Outlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    • News
    • E-Commerce
    Editor's Pick (1 - 4 of 8)
    left
    Enhancing POS Experience for Employee and Customer is the Key to Success

    Christopher Davis, Chief Information Officer, the Tile Shop

    The Great Tech Arms Race: How Changing Consumer Behaviour and Expectation is Driving Ecommerce Transformation

    Brett Raven, CIO, Big Red Group

    Avoid Being the Next Casualty in the Retail Apocalypse

    Sahal Laher, CDO & CIO, Destination XL Group

    Your Next Law Firm Website Project

    Vic Peterson, CIO, Stinson Leonard Street LLP

    Technology Changes to Supply Chains Demand Good Leadership

    Kevin Glynn, VP & CIO, DSC Logistics

    Retail and the Consumer

    Steve Rempel, CIO, Rite Aid

    Key to Successful eCommerce Logistics: Innovation

    Ramesh Narayanaswamy, CIO, SingPost

    The Possibility of Scan-and-Go Pos Solutions

    Rebecca Meyer, Director of it - Commerce Applications and Ecommerce, Kelly-Moore Paints

    right

    How Reverse Logistics Software Makes Returns Easier

    Apac CIO Outlook | Friday, January 28, 2022
    Tweet

    Returns management is a type of reverse logistics. It tracks products from the point of customer return and manages where they end up.

    Fremont, CA: Due to the increase in e-commerce orders during the COVID-19 pandemic, online returns are expected to double by 2022, highlighting the importance of a solid returns management program that serves both retailers and their customers. In 2020, consumers in the United States have returned approximately $428 billion in purchases to retailers. According to the National Retail Federation, this accounted for roughly 10.6 percent of total retail sales (NRF).

    Profit margins are directly affected by reverse logistics. As sales increase, companies' margins may be eroded by the cost of managing the resulting increase in returns. According to the NRF survey, the average retailer incurs $106 million in return costs for every $1 billion in sales. Businesses can recoup some of that money by implementing a returns management strategy. Many retailers and manufacturers choose to use a third-party logistics (3PL) provider to increase their reverse logistics profit margin. Using such a service can help streamline the process, save money over managing returns in-house, and free up resources to focus on other aspects of their operations.

    The majority of businesses are uninformed about the actual cost of product returns. Even if they collect return data, they lack the tools to analyze it and spend little time evaluating the role of returns in the supply chain. Instead, they concentrate on increasing sales, which leaves them with little visibility into potential revenue losses.

    All of these issues can be addressed by reverse logistics. Converting waste into sales and efficient process adds value to businesses. They can quickly and efficiently reintroduce their returned products into the supply chain, lowering storage and distribution costs and saving time and money.

    The use of reverse-logistics software aids in maximizing the cost savings from returns management. This is because it manages the entire returns lifecycle.

    Reverse-logistics software automates determining the best path for returned products in terms of cost recovery. Machine learning can analyze developments, return rules, and sales demand when the customer initiates the returns process. It can be tailored to the company's specific needs to meet particular challenges.

    The following are some of the benefits of reverse logistics software:

    • Returns management portal that is all-in-one,

    • Tracking of returns automatically,

    • Cloud-based technology allows for simple access and sharing.

    • Visibility into the causes of returns,

    • Data insights to aid in the management of future returns,

    • data forecasting, and

    • Customer retention and brand credibility have increased.

    Businesses can use reverse-logistics software to reduce the number of product returns they generate in the first place.

    See Also : Logistics Tech Startups 

     

    tag

    Startups

    Machine Learning

    Weekly Brief

    loading
    Top 10 Education Tech Solution Companies - 2021

    Featured Vendors

    Arlo

    John Mitchell, CEO

    Esri

    Jack Dangermond, President

    ON THE DECK

    Education 2021

    Top Vendors

    Education 2020

    Top Vendors

    Education 2019

    Top Vendors

    Education 2018

    Top Vendors

    Education 2017

    Top Vendors

    Education 2016

    Top Vendors

    Previous Next

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Read Also

    Benefits of Unified Communications

    Axie Infinity moves from Google reCAPTCHA to GeeTest

    Emerging Trends In Processing Big Data In The Future

    Benefits of IT Compliance

    Geetest, The Company Behind BINANCE CAPTCHA, Launched A New Product Adaptive CAPTCHA

    IBM ESS 3500 System to Tackle AI Adoption Challenges

    Loading...

    Copyright © 2022 APAC CIOoutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    |  Sitemap |  Subscribe |   About us

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://www.apacciooutlook.com/news/how-reverse-logistics-software-makes-returns-easier-nwid-8774.html