If you have implemented sustainability goals for your business – as most companies have, today – you may be missing out on some prime aftermarket opportunities to help you achieve your objectives.
Businesses face a myriad of challenges when pursuing a sustainable business model. You can help overcome these challenges by tracking and managing your reverse business activities, including warranty returns, repairs and asset disposition.
The Importance of Sustainability in Commerce Today
During the latter half of the 20th century, Americans fell into a pattern of consumerism that tolerated – or, often, outrightly celebrated – disposable products. Granted, most of this mindset was well-intentioned but, unfortunately, it was misguided.
As society came to realize the negative effects that disposable consumerism exerted on the environment, consumers began to seek out products that were sustainable. Today, a large portion of American consumers favor those providers and purveyors who have also made sustainability a priority in their business.
Whatever your personal beliefs on this subject may be, implementing sustainable practices gives you an advantage with your prospects and customers. Even better, you can potentially increase your company’s competitiveness and profitability as a result.
Sustainability Challenges Are Inherent in the Reverse Business Cycle
You can implement comprehensive policies and procedures for improving sustainability in the supply chain but, unless you’re including the reverse supply chain in those considerations, you’re potentially missing out on key opportunities to improve sustainability.
How much do you consider a given product’s lifecycle or the processes that should apply to its end-of-life? What happens when a product comes back for warranty repair or replacement? What is the current disposition of assets in the reverse supply chain? What about your overstock inventory?
Anything that ultimately ends up in the landfill is degrading your sustainability quotient but it’s also not returning anything to your revenue stream or your brand’s reputation.
Applying Reverse Logistics to Improve Sustainability
You can improve these aspects of your business by implementing best practices of reverse logistics. This may mean streamlining the returns process to minimize transport impact. It may mean finding redirect options for returned and overstock assets you don’t currently add to your salable inventory.
Practicing sustainability alone, however, is not enough. You must be able to track and measure it.
Adopting a reverse logistics management system – such as the ReverseLogix SaaS technology platform – allows you to manage and track the sustainability of your reverse business cycle.
At ReverseLogix, we put our logistics and supply chain expertise to work for you, improving the efficiency of your reverse business cycle.
Connect with us today to learn more about how we can put reverse logistics to work for you, to help you meet your sustainability goals and improve your company’s profitability while increasing the value of your brand.