Returns can be costly for your business, but they are an inevitable part of doing business these days. While brick-and-mortar stores have about 8-10% of products returned, online sellers see rates about double that at 20%. The more expensive the item, the more likely it is to be returned, with high-end goods purchased online returned at a rate of 50% or more. If you can manage your returns effectively, though, it presents a great opportunity to build loyalty with your customers and bring in new business.
One of the areas where many businesses struggle is disposition management, or figuring out the best disposition channels to reduce waste and limit the financial burden of returned materials.
CHOOSING A DISPOSITION CHANNEL
The right software can help you streamline decision making for how to dispose of products, helping you decide between:
- Return to vendor
- Return to stock (resale)
- Liquidation or clearance
- Waste disposal
Reducing the time it takes to figure out which disposition channel is appropriate can help you move items back to stock or to a clearance channel if they can be resold. This helps recoup some, most, or even all the lost profit from the return by getting it back out in front of potential customers sooner. For items that cannot be sold, getting it out of your warehouse to go back to the vendor, be recycled, or be disposed of in some other way limits the cost of warehouse or storage space to keep items in your inventory longer than is necessary.
IMPROVE CUSTOMER & VENDOR RELATIONS
When a customer returns an item, one of the first things they want to know is how long it will take to get a refund or store credit. Speed this up by automating more of the reverse logistics process so your team can quickly verify the authenticity of a return, determine which items can be refunded, and issue refunds to the customer right away.
Our disposition management tools are part of a larger suite of software for reverse logistics, which also streamlines the process for you and your customers. Begin the process with a quick and easy RMA form, then use the software to track returns through every step of the way.
POWERFUL REPORTING TOOLS
We also offer powerful reporting tools that help you identify bottlenecks and inefficiencies in the system as products flow from customers, back into your system, and eventually to disposition. Quickly check the status of all items, track methods of disposition to ensure profitability and reduce waste, and ensure full integration with the rest of your reverse logistics process.