If you think pleasing your customers is about the flow of goods from retailer to the consumer, you're mistaken. It is all about managing returns, which is undoubtedly a challenging task. This is because most supply chains and IT asset logistics management teams are developed to move the products from one point to another in the forward direction. They pay less attention to tackling and handling the situation when it moves in the reverse direction.
Online shopping is the trend these days, and more people prefer it because it offers a hassle-free return policy. The return procedure and how a company handles it will determine how it has an impact on the firm's overall success. Returns management helps manage the end-to-end returns process, optimising the entire supply chain process. Returns management is an important term in every IT asset logistics management as it relates to many aspects of a product's return process. We have elaborated on the five R's of returns management in the article below.
Reverse logistics can be defined as managing a reverse supply chain in IT asset logistics management. Here the products get shifted from the customers to the manufacturers, sellers or