LONDON–(BUSINESS WIRE)–SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the reverse logistics and supply chain challenges.
Reverse logistics is one of the most complicated terms. Assessing, repairing, repackaging, relabeling, restocking, reselling, recycling, and refurbishing are the additional steps involved in the reverse logistics process. At times, this cost of reverse logistics reaches four to five times of forward logistics. However, it represents huge opportunities for value creation. Best-in-class companies directly correlate their reverse logistics to positive impacts on customer satisfaction, brand equity, competitive differentiation, and profitability.
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SpendEdge offers customized procurement market intelligence solutions to help companies across various industries make better purchasing and reverse logistics decisions, stay informed, mitigate different types of procurement risks and gain a complete picture of the supply market. Our solutions help procurement and sourcing professionals to transform structural capabilities, improve execution efficiency, and fast-track time to savings.
Major Hurdles for Supply Chain Managers
Difficulty in value assertion
Ascertaining the value of products in reverse logistics is a major task for companies. For instance, if a product worth $1000 is being returned by customers due to minor defects, it is neither worth the original cost nor can its cost be brought down to zero. Firms must adopt a proper mechanism and consider the usable status of the goods to reach the value of the product.
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Search for an efficient repair process
Any reverse logistics system requires an efficient repair process for its smooth functioning. A software that can streamline this process and provide visual guidelines for technicians can drastically improve the process. Video tutorials can help companies compress the learning curve and speed up the entire repair process.
Improving the reverse logistics process is crucial for companies to keep pace with changing customer needs. Register for free and gain instant access to 1000+ procurement reports.
Keeping track of the warranty status
Handling warranties is one of the complex tasks and leads to financial losses. Many times, companies find it difficult to track the second warranties. RL software fails to track second warranties back to OEMs, thereby making the process of placing claims more difficult and losing warranty reimbursement amount from the suppliers.
To obtain more information on reverse logistics and supply chain challenges faced by companies, read the complete article here!
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