If you own any business, you are well aware of the fact that returns processing is an essential service you have to provide the customers. It is important to ensure efficiency in the returns management process so that the customer is always satisfied with your services. It also strengthens the reputation of your business. In this post, we will explore the best ways of executing and processing returns to ensure the ultimate satisfaction of the customers.
What are the main elements of a good returns management process?
Returns management generally covers multiple processes like inventory management and logistics. For planning the returns management efficiently, businesses need to take into consideration the scenarios of multi-pickup and multi-drop. By this, we mean that drivers are usually expected to deliver items and also pick up the returns from various locations at the same time. This can prove to be quite complex during the actual execution. In this post, we will discuss the elements of a good returns management process and how these can be used to address issues related to fulfilling returns.
1. Visibility
The most effective way to achieve more visibility into the returns management process is through an automation platform and bar code identifiers. AI/ML-based automation platforms allow authorized users to execute tasks regardless of their physical location and time zone. Reverse logistics software is an amazing tool, especially when considering global supply chain expansion. With it, a wide range of manufacturers and third-party service providers can access important data points and real-time updates.
AI/ML-based platforms can help you have real-time visibility into all the trips from a single place. The platform calculates real-time trip and delivery times for all trips in progress. By doing so everyone involved can be informed of the exact status of the deliveries.
Bar code identifiers ensure that the inbound shipment’s data points are accurate. These identifiers contain a wide range of information from the product name to the current condition of the product. Bar code identifiers also ensure that repair depots and receiving docks have the necessary resources for the returns management process to run effectively.
2. Speed
Another pillar that supports the returns management system is speed. To ensure that the processing and execution of returns take place in a fast and efficient manner, businesses should consider using reverse logistics software. This can help in speeding up the returns processing in the following manner –
- Automating the workflows: The processing of returns uses data at various points. You would have to update the data about the materials used in the item, its value, and the customer service contracts that exist with the company. Besides this, you would also need data about the source of return and the cost and cost of return. You can automate the repeatable processes and also use the software to make the returns routing efficient and faster.
- Generate the shipping documents: Through automated workflows, you can generate the necessary shipping documents and labels. There would be lesser setbacks in the inbound return stream when the shipments are attached with accurate labels and the necessary paperwork.
- Simplification of returns through user profiles: By using the users’ profiles for data, you will be able to simplify the process of returns. This user data might consist of physical location, product return eligibility, service contracts, and payment terms.
3. Control
The third pillar that supports a returns management system is control. A common problem that is faced in supply chain management is synchronizing the movement of the materials. There are 3 points relating to control in the returns management system. These are –
- Compliance: Regulatory compliance is something that affects all the aspects of a returns management process. Shippers need to follow the regulations recommended by their industry, in addition to the state and national regulations. The automated workflows that help in speeding up the returns process can also be used to provide more control.
- Reconciliation and final disposition involve product engineering necessary for determining the potential of returned items and their resale value. It main objective is to help find a balance between internal financial control and customer satisfaction.
- Addressing the root problems of returns can help in reducing the costs associated with transportation and storage. Businesses can use analytical capabilities to generate insights about the root cause of returns.
A robust returns management process can improve the productivity of your fleet by efficiently processing and executing returns between pick-up and drop schedules. When planning for a scheduled return it is also important to ensure that the customer is available. The customers not being is also an issue that needs to be addressed for an effective returns management process.
Conclusion
Incorporating the above elements can ensure the smooth functioning of your returns management system. By handling and processing the return shipments efficiently and quickly, you will be able to increase value recovery. Using Mojro's reverse logistics solutions can help in this process significantly. Talk to us to know more about efficient returns management.
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