Reverse logistics is the process of goods or raw material flow from customers to manufacturers. It is a backward movement of goods where customers return products for refund or replacement. Reverse logistics involves manufacturers, retailers, consumers, logistics providers, manufacturers, and so on.
It falls into two categories-- 1) Planned reverse logistics. 2) On-demand reverse logistics.
What is Planned reverse logistics? --> Planned reverse logistics is a business model where returns are driven through product recycling, exchange, and repair. This logistics process occurs when consumers make a purchase and simultaneously return old items for recycling.
What is on-demand reverse logistics? --> Store closures driving on-demand reverse logistics. Supply chains are struggling to cope with unplanned reverse logistics requests. On-demand reverse logistics is a lot different than the more traditional forms of reverse logistics.
Why should logistics providers focus on reverse logistics?
-->It takes time to resell a returned product. -->There is a waiting time involved in reprocessing a returned product. -->Keeping products in the inventory for a long time increases inventory management costs.
-->Gain the trust of customers and improve brand loyalty. -->Minimize failed delivery attempts. -->Improve the quality of their products.
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