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.
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Your existing TMS has been very useful till now and we are extremely grateful for that. But what got you here will not get you there. Traditional TMS solutions have limitations when it comes to making your logistics proactive.