The product return process has long been neglected at companies, written off as a necessary expense that adds no value. The returns function and any process related to it is often given the bare minimum of time and consideration. Typically, once an item is returned, it's thrown into the back of a warehouse and forgotten about while a new product was shipped to the customer.

Narvar has developed Narvar Returns, a platform for managing product returns for retailers.

OnProcess Technology, a vendor of applications for post-sale supply-chain management and optimization, has created the OPTvision platform.

Whether it's a toy, automobile, medical device or food item, not a day goes by without news of another product recall. Unfortunately, recalls are a reality of the global economy and it truly is a matter of when, not if, a company will be impacted by one. Navigating a product recall tests customer relationships, puts pressure on the supply chain, affects sales and can paint brands in an unfavorable light. Given the serious nature of these and other recall execution challenges, it's critical that organizations have a recall plan in place long before an event occurs.

Lack of innovation over the past few decades around how organizations approach disposing of their returned, excess and obsolete inventory has resulted in billions of dollars lost and can no longer be left to inefficient, reactive or outdated methods.

A conversation with Tom Enright, research director of Gartner.

Product returns are typically seen as a necessary headache and a cost drain. But companies can use their return policies to enhance customer loyalty and increase profits.