Supply Chain and E-Commerce Blog
The royal wedding last week had wedding bells ringing around the globe as Prince Harry and Meghan Markle (now the Duke and Duchess of Sussex) walked down the aisle.
In 2017, there were more than 37,000 mergers and acquisitions worldwide. Notable deals in recent years have spanned consumer luxury brands to major tech leaders—with Michael Kors buying Jimmy Choo and Dell acquiring EMC, among many others.
Has any product that you’ve owned ever been recalled? Most likely, yes – as everything from tech gadgets and car parts to baby gear and food, regularly make headlines for safety issues or other defects.
One of the biggest stories of Fall 2016 was the Samsung Galaxy Note 7 recall. While the company is just now starting to move past that massive product and public relations disaster with the release of new devices, it remains an example of some of the enormous logistics challenges that can present themselves without warning.
Returns can happen for any reason: because something didn’t fit; because people received duplicates of something; because people didn’t like something – or because a product was damaged. There are several reasons why something could be returned – but whatever the reason, companies need to be set up to quickly and efficiently receive these returns and either ship out new goods or process a refund/store credit.
Smartphones are always a big-ticket item, especially around the holidays. As such, carriers need to make sure they have a strong supply chain in place to meet demand and accurately forecast for high peak seasons. Unfortunately, that doesn’t always happen.
With the summer behind us and the holiday season quickly coming up, companies are ramping up both their in-store and e-commerce operations, hiring workers and making sure everything’s set for the oncoming rush. One area that is often overlooked – but shouldn’t be – is the returns process. With research pointing towards some 30 percent of goods purchased online being returned, the importance of correctly managing this process cannot be overstated.
The retail game can be a tricky business. Customers are fickle and – put simply – there’s a lot that can go wrong during the processes involved with making, shipping, packaging and selling your product.
Whether it’s a faulty minor component that renders an electronic device useless, shoddy stitching in an item of clothing, or even damaged products or packaging resulting from the journey from warehouse to store shelf, there are a million different things that can go wrong and lead to justified product returns.
Thanks to a large boost in e-commerce in recent years, retailers are seeing huge increases in sales across the board. Now that consumers can complete purchases from the comfort of their handheld devices, retailers are working overtime to keep their distribution centers stocked and products in motion, making an efficient supply chain solution more essential now than ever before.
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