Over the years, retailers have become very good at the supply chain - the process of getting goods from the manufacturing plant to the customer. But today, many retailers face a different challenge: taking those goods back, a process referred to as the "reverse supply chain."
Challenge: A large retailer needed an efficient and cost-effective way to handle products returning from stores into the reverse-logistics channel. The company was searching for a better way to manage merchandise for redeployment, return-to-vendor and liquidation.
The 3rd annual Walker Sands Future of Retail Study analyzes the rise and adoption of emerging retail tech, with a heavy focus on gauging consumer reaction to potential tech game-changers (cue drones) and exploring consumer spending habits.
Returns have long been the bane of the retail industry. Brands and retailers know that a certain percentage of their sales are going to result in a returned product, whether it's an ill-fitting piece of clothing, an unwanted gift or a product that just doesn't work. It's part of the business, and returns are a critical part of the retail lifecycle.
The explosive growth of e-commerce sales is bringing a subsequent spike in e-commerce returns. To put it in perspective: Returns are projected to grow at a 15 percent annual rate, and 30 percent of online purchases were returned last year, according to research from commercial real estate firm CBRE.
Metro Supply Chain Group, a Canadian-owned third-party logistics provider serving North America, has acquired Evolution Time Critical, a European specialist in emergency logistics for automotive and industrial services.
The Department of Defense has retained Liquidity Services, Inc. a provider of reverse supply chain services, to manage and sell scrap assets generated by DoD installations throughout the continental United States, Alaska, Hawaii, Puerto Rico and Guam. The Company expects to commence operations under the contract on Sept. 1, 2016.
The latest news, analysis, services and systems regarding reverse logistics and its impact on global supply chains. Today’s companies are refurbishing and recycling more goods and managing more product returns than ever before thanks, in part, to the boom in e-commerce. New technologies for reverse fulfillment are transforming the way companies provide customer support - and allowing them to stay ahead of the competition in their industries. As these services continue to evolve, businesses are discovering new ways to increase efficiency and cut costs. Learn how companies are using reverse logistics solutions to power their supply chains.
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