Reverse logistics has always been a crucial but often overlooked feature of the supply chain. While returns have always been a way of life across industries, the exponential increase in the global e-commerce business has fueled the increase in the return rate of overall sales multifold. Companies must be prepared with policies, processes, and infrastructure in place to manage the impact of returns on the bottom line, maintain a healthy inventory turnover, and lower operating expenses. A robust and seamless reverse logistics strategy also provides benefits such as enhanced customer satisfaction and retention, a better understanding of customer buying behavior, improved environmental sustainability, and become cost-efficient.
Our advanced reverse logistics management solutions enable our clients to identify actionable opportunities for inventory optimization, reduce waste, proactively reduce the volume of returns, protect brand image, and maximize profits. This is done by analyzing the data sets collected from disparate sources across the product lifecycle that offer real-time data-driven insights into all processes throughout the supply value chain — helping businesses create an ROI-focused robust reverse logistics strategy.
Our Solution Portfolio
Reverse Logistics Visibility
Reverse logistics across sectors suffer from a severe lack of visibility due to the limited information available — businesses simply do not know if and when a product return/replacement/reclamation will be initiated — making demand prediction a near-impossible task.
Our reverse logistics management solutions provide our clients with insights on how to capture data throughout the reverse logistics value chain using artificial intelligence and the internet of things. Once this data is captured, it can be aggregated and analyzed to track goods in real-time from the end-customers back to the supplier/manufacturer. This data also provides crucial insights that help uncover inefficiencies, reduce costs, improve customer service, and increase compliance throughout the reverse logistics chain. This data can also be shared with customers and partners to provide complete process transparency.
Reverse Logistics Profitability Analysis
One of the biggest challenges in reverse logistics is tracking the profitability of the reverse logistics process. Our advanced reverse logistics management solutions enable you to add reverse logistics cost as a product performance factor by linking it to cost of sale, include seasonal/cyclical returns data in forward planning for next season/buying cycle, and differentiate sales slump from product performance. They also enable you to decide whether to efficiently move returns through distribution centers and inventories or store them if their product value is less than the shipping cost.
All processes — be it repair/repackaging/refurbishing — must be cost-effective. Our reverse logistics management solutions can provide insights to our clients on the cost-benefit analysis of each process and recommend optimizations to reduce spends. Our advanced analytics insights also enable companies to optimize reverse logistics costs and maximize recovery of assets depending on value thresholds.
The number of returns directly impacts the inventory stock of a company. If the returns are too many, inventory can be built up and even lead to a production freeze if the return is an NTF (no trouble found) return. Deciding on how much stock to hold and how much to keep free for returns often puts companies in a bind.
Quantzig’s advanced reverse logistics management solutions provide our clients with information on the type of product returning to the inventory (NTF or product failure), customer demand, external disruptions (regulatory changes, trade wars, macro-economic factors), and inventory holding costs. This, in turn, enables them to make informed decisions to optimize inventory and reduce holding costs.
Even though they seem like a necessary evil, returns and recalls are an inevitable part of the supply chain. It is imperative to efficiently manage returns to minimize reverse logistics costs and ensure the best possible customer experience. An adequately managed returns process and an aggressive return policy can quickly turn into a competitive advantage for a business that enables them to conquer their industries.
Quantzig’s advanced analytics solutions provide you with valuable insights that enable you to proactively optimize routes, pre-empt product returns, plan inventory, and set necessary processes in place to manage returns/replacement/repair.
Warranty and Repair Management
Managing warranty returns is a challenging process. They must be reviewed, processed, and tracked in a manner that enhances customer experience while minimizing their impact on company profitability. However, a streamlined warranty and repair management strategy can enable businesses to convert this challenge into a competitive edge.
Our advanced warranty and repair management solutions will enable you to automate and expedite the warranty management process leading to improved product ROI, reduced turnaround time, enhanced customer satisfaction and loyalty, and a potential increase in sales. Our solutions also enable you to save costs by cutting down on resources and optimize products by leveraging the data from the warranty and repair management process.
Today, businesses must look beyond merely delivering products to their customers to creating an experience for them. With the rising volume of returns from the flourishing e-commerce space, companies must be prepared with policies, processes, and infrastructure to manage the impact of returns on the bottom line.
Quantzig’s unmatched set of analytics capabilities in reverse logistics management enable organizations to transform siloed returns processes and policies into a holistic reverse logistics strategy and minimize the costs involved. Our real-time analytics also facilitates business decisions on the go to prevent future supply chain disruptions.
Request a free proposal to learn how you can use our reverse logistics management solutions to manage returns, inventory, warranty, and repair, and reduce the cost-impact of reverse logistics on the supply chain while increasing customer satisfaction, improving operations, and creating a cost-efficient value chain.
Highlights of the Article - Big Data Challenges in the M&E Industry The Complex Media and Entertainment Industry - OverviewBig Data Challenges in the M&E IndustryThe Future of M&E Industry - Big Data Analytics The Complex Media and Entertainment Industry -...
Highlights of the Article - An Effective Supply Chain and Logistics Process in F&B Industry Overview of the F&B IndustrySupply Chain and Logistics Process - The NeedImportance of Supply Chain and Logistics Process in F&B IndustryConclusion Overview of the...
If you compare the retail scenario now to that of the early 80s and 90s, you will notice a considerable difference in the type of retail stores that exist. One of the main reasons for this change is the rise of the marketing era. Retailers began to realize that giving...