The numbers that accompany reverse logistics aren’t inspiring. It’s one of the major reasons behind businesses across the globe forfeiting sales, giving unrealistic discounts and absorbing regular disruptions in supply chain operations.
According to research, in the US alone the cost of return deliveries will be $550 billion in the year 2020.
It’s true that managing reverse logistics is no cakewalk, but unless businesses take that first crucial step to address some of the key challenges, they are looking at a future where it will be extremely difficult to recover losses. Having said that, it’s still not too late. By embracing an advanced supply chain and logistics platform, businesses can optimize costs of returns, minimize risks and make the entire reverse logistics process transparent and reliable.
Even though this infographic draws a grim picture of the state of reverse logistics, but there is always hope at the end.
FarEye has empowered 200+ customers in more than 20 countries drastically optimize their supply chain and logistics operations. To know how FarEye can help you improve visibility and control of your reverse logistics processes and shrink operational expenses sign up for a quick demo here.
Noida-based FarEye gives organizations real-time visibility and predictive intelligence through its SaaS platform, which enables quick and reliable movement of goods using mobility, data analytics, and automation.
With the advent of the 'click and collect' model—which allows customers to place orders online and pick them up at a store or other designated location—would entice more retailers, as well as more consumers, to the online-grocery space.
A modern, AI-enabled logistics software can help you achieve this by automatically allocating tasks to delivery executives, depending on the available resources and the destination of a parcel.