- by Best Inc.
- October 31, 2020
Sometimes, when consumers purchase your products, it does not mean that it is the end of logistics. Some products can be reused, disposed of, or used to add value to other products. Because of that, monitoring your products’ life-cycle should be a continuous process. For example, some products are to the manufacturer by the end-user after they have been used completely. Therefore, the manufacturer may use them to create new products or improve existing ones. You can leverage reverse logistics in various ways to benefit your business. For example, did you know that return goods can be a source of additional profits for your company?
Managing the Return of Sold Goods
For most companies, tracking and monitoring the supply chain stops when the customers receive a product. Once they now that it is delivered on time, it will be the end of the process. However, smarter managers know that there is more to the process than timely delivery. For instance, have you ever wondered what would happen when your customers receive the wrong product? What about an incomplete one? They will be thinking of how to get it back to the manufacturer and get a replacement or refund in such a situation. Because of that, you have to follow up and know what happens after delivery.
Using the Process to Retain Customers
Proper reverse logistics can help you retain customers because they know that they can count on you to return products whenever they have to. If the products are a health hazard when disposed of improperly, they will be hoping that they can return them to you for proper disposal. Such customers will also feel safer when using your products than when they are let on their own after delivery. The most successful companies in various industries discovered this trick, which is why they have effective ways of managing such logistics.
Another reason you should monitor the reverse logistics channels is to minimize losses. You can easily use the process to know which products are frequently returned, and therefore, you can improve them. If you notice that a product is returned severally, it is an indication that you need to engage the customers about the problem. It also allows you to plan and avoid similar mistakes, and so, your profits will be cushioned. In addition to that, customers often return products with information showing why they did so. You can use this information to gather enough feedback and create products that meet their expectations.
Monitoring reverse logistics may be an overwhelming task, especially if you have lots of products to supply. However, you can avoid all the challenges associated with it by working with a reliable transportation and freight management company such as BEST Inc. You need to work with a partner that is dedicated to your success. To be sure of effectively managing the return of sold products, retaining your customers, and reducing losses, contact BEST Inc. today and get a solution that is customized to the needs of your company.