Well, it’s time to handle reverse logistics as an integral part of your supply chain management strategy. Partnering with a reverse logistics company is a great move for your retail business. "They’re taking boatloads of these returns that are being sold to … The RLA offers information, research, solutions, and facilitates networking introductions for manufacturers, retail companies and third-party providers. The purpose of reverse logistics is to recapture value or properly dispose of a product. The following are common types of reverse logistics. There may be as many as 30.7 billion IoT devices in use by 2020. Some companies that successfully manage reverse logistics have implemented automated process management. Reverse logistics comprises of activities, which includes remanufacturing, redesigning, and refurbishing. The reverse logistics process is fairly easy to understand once you’ve broken down the 6 steps companies follow to carry out this specific management strategy. Reverse logistics also enables companies that rebuild, refurbish, or repair products—whether automobile parts remanufacturers or telecom or computer companies—to more swiftly recapture value by getting these products back into the marketplace faster. Planning for products to return to your company (returns management) may seem counter-intuitive.Still, for companies that offer rentals, product pick-ups, or any type of shipment logistics management, the path backward can be just as costly as the path forward. For some companies reverse logistics can be a nightmare as it’s typically not very well managed and that mismanagement can represent a significant amount of the supply chain cost. Reverse logistics is extremely important to most businesses because it can help you tackle some of the greatest threats the industry will face by 2020.. If your business doesn’t have a great reverse logistics plan, you could be losing revenue and not even realizing it. Reverse Logistics is an absolute must for any business that has a returns policy. The reverse logistics process is executed in the following manner: Step 1: The products to be returned are first retrieved from the customer or the warehouse. The reclamation of valuable parts, including OEM parts, can be a source of supplies for future production in your company. RLA is a member driven, global trade association for the returns and reverse industry. Knowledge concerning the challenges of reverse logistics facing manufacturing pharmaceutical companies in the city of Tshwane is very limited and motivated the researcher to … Ultimately, having a 3PL provider manage your returns does more than just free up your team to focus on growing your business. 3PLs Make Return Logistics Easier Expak Logistics is a third-party logistics (3pl) company working on the industry’s cutting edge, helping retail businesses streamline their reverse logistics operations, controlling costs and creating a vastly more efficient operation in the process. Reuse of materials in manufacturing processes helps stave off the misuse of unprocessed raw materials and requires less power. 34.3% of the supply chain executives said they didn‟t have the right system in place, more than one third said company policies inhibited them to do so. The Reverse Logistics research team would like to welcome you to our new reverse logistics website. However, it has been observed that companies that have an effective reverse logistics system can benefit from the return process in a number of different ways as listed below. This includes returns, … The Reverse Logistics Association is the authoritative body for best practices related to reverse logistics. Retailers want shipping companies that create new efficiencies and cut costs. Others have formed dedicated reverse logistics functions, employing a team of people who do nothing else but manage the return of unwanted, damaged or recalled products. Our updated 2018 reverse logistics diagnostic toolkit is available to download and use free of charge via the links at the top of this page. The function has been around since the Phoenicians began shipping amphorae of wine to Rome in 1,500 BC.. companies why they didnt have a strong reverse logistics program, nearly 40% said returns management didnt seem as important as other issues. Everyone Wins With Reverse Logistics Management. Reverse logistics is the movement of goods in the supply chain from their end destination (such as the customer) backwards. According to an industry survey, 60% of active online shoppers say that free returns are a vital part of a good returns experience. What Is Reverse Logistics? Committed to design and operate sustainable cost-effective reliable solutions for enabling producers to be fully compliant and provide services for EPR, while co-existing with informal channels and reaching out to 2 million+ individual households and consumers through awareness programs. Not only will your customers be happier with the way their returns are processed faster, you’ll quickly see the impact of that swift returns management on your bottom line. Reverse logistics is the process of moving goods from final destination and receiving returned products/ materials for proper disposal. 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