Returns and reverse logistics are vital for reducing waste and extending the lifespan of products. In the process, businesses can increase revenues and build customer loyalty.
Here are some ways reverse logistics can reduce a company's environmental impact:
- Make returns easy. This could include offering a choice of shipping options for returns, accepting returns at multiple locations, and processing returns quickly
- Inspect returned items without delay. When products are returned, should be inspected at once and sorted to determine if they can be resold, repaired, or recycled. This can help reduce the amount of waste that ends up in landfills and minimise the environmental impact of disposal.
- Improve resource efficiency. This means recovering valuable resources from returned products and materials. According to a study by the Reverse Logistics Association, companies can recover up to 90% of a product's value through reverse logistics. These resources can be reused or recycled, reducing input costs, helping to conserve resources and reduce the environmental impact of production.
- Optimise transportation. A report by Accenture revealed how reverse logistics can reduce transportation miles by up to 30%. When products are returned, they can be consolidated with other returns to minimise transportation costs and reduce fuel consumption and emissions. This can help minimise the environmental impact of transportation and reduce costs overall.
- Extend product lifespan. When products are returned, they can be inspected and repaired to extend their lifespan. This can help conserve resources and reduce the environmental impact of production.
By implementing these strategies, companies can reduce their environmental impact while also improving efficiency, reducing costs, and enhancing customer satisfaction.
Retailers and webshops looking to improve the sustainability of returns and reverse logistics can:
- Use the right technology: the software which supports the returns process can help identify areas of excessive returns activity, helping to cut down on wastage.
- Educate customers. Educating customers about the returns process can help turn returns into a powerful customer retention strategy.
- Partner with sustainable suppliers. Working with a variety of carriers makes it easy to choose those with the lowest emissions. Identifying recycling/reuse partners can further reduce wastage while maximising revenues for the business.
nShift Returns platform helps businesses increase revenues, and retail customers, and minimise waste. Contact us to find out more.