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SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the impact of reverse logistics on spend management and supply chain.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191122005342/en/
Reverse logistics plays a critical role in the businesses’ bottom line. There are possibilities that products do not perform up to their expected abilities and need to be replaced or discarded. Manufacturers then have to engage a logistics service to pick up the problem product from the customer for repairing or replacing. This can impact the company’s supply chain and spend management significantly.
At SpendEdge, we understand that manufacturing companies invest handsomely in their own reverse logistics efforts. Therefore, we have highlighted how it can be an opportunity for companies to understand if the company’s engineering and customer service standards are executed right.
Impact of Reverse Logistics on Spend Management and Supply Chain
Improving customer satisfaction
Many times, a product fails to live up to the expectations of customers. Reverse logistics provides an opportunity for the company to assuage the bitter customer experience. It provides a chance to enhance customer services as customers prefer companies that attend to their concerns in time and in a dignified manner.
Improving customer satisfaction requires companies to gain comprehensive insights into customer demand. Book a free demo to access our smart procurement solutions now!
A cost-effective source of ready customer feedback
Examining the return requests, spend analysis, probability of customer retention, and other data can help companies to identify the problems in their products and the manufacturing process. This makes it easier for companies to correct the inherent issues and develop a more robust product while improving spend management and streamlining the production process. To know how you can better manage spend, reach out to our experts now!
A chance to improve the supply chain
The insights gained during the process help companies improve the manufacturing process and various components involved in the manufacturing cycle. This helps the manufacturers to forecast the need for raw materials and avoid wastage at all levels of the process, thereby improving the supply chain.
To analyze in detail the impact reverse logistics process, read the complete article here!
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