RLA News & Views

ReverseLogix Survey: Companies Name Biggest Returns Management Challenges and Opportunities

ReverseLogix

July 11, 2023


While most companies see the potential for automation in returns management, only 24% use it, according to a ReverseLogix survey conducted with Peerless Research Group. Furthermore, most (77%) don’t know what product returns are truly costing their company.

The report, 2023 Reverse Logistics Technology Study, surveyed companies primarily in the B2B (45% of respondents) and hybrid B2B/B2C (42%) spaces. Industries were wide ranging, spanning apparel, industrial machinery, electronics, food and beverage, and automotive/transportation equipment.

Respondents said they use various approaches to returns management, with 66% processing their own product returns and 16% using a 3PL partner for returns services. Of those that process their own returns, a slight majority (52%) collect returns at a store, while others rely on third-party locations, pick-up/drop-off points, or mailing to a central processing facility.

Returns Management Challenges

When it came to reverse logistics challenges, respondents noted the following as their most common hurdles:

  • The time required to process returns
  • Slow/manual tasks needed to complete the returns
  • Returns divert staff from normal warehouse operations
  • Lost revenue due to the return (both in merchandise cost and staff time)
  • Ability to resell returns efficiently

“The survey revealed that automation isn’t widely used for returns management, but automation could solve a lot of the respondents’ challenges,” said Gaurav Saran, CEO of ReverseLogix. “Purpose-built returns technology can guide and automate tasks based on a company’s rules and standards, so even complicated returns can be processed faster. Plus, the visibility into incoming returns helps warehouse managers staff up before the items arrive.”


Read the full article here: https://www.reverselogix.com/news-event/reverselogix-survey-companies-name-biggest-returns-management-challenges-and-opportunities/