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It would be tempting to think of reverselogistics as forward logistics done backwards. Reverselogistic isn’t simply a reverse gear. Reverselogistics can also have a dramatic effect on steering a company’s fortunes. This also qualifies as reverselogistics.
One crucial yet often overlooked aspect of the supply chain is reverselogistics. Lets explore what reverselogistics entails, why its important, and how businesses can optimize it. What is ReverseLogistics? At its core, reverselogistics deals with the flow of products moving backwards in the supply chain.
However, one of the most important aspects of supply chain strategies is often overlooked: the reverse supply chain (also referred to as reverselogistics ). Basically, reverselogistics in the supply chain revolves around dealing with end-of-life, malfunctioning, or hardware upgrades.
Costco example: they sell different brands and market their brand Kirkland, which now accounts for approximately 25% of their revenue. For retailers, this is an avenue where they can build more intimacy with their customers and capture more data and loyalty. Ecommerce companies have data, retailers don’t. So, what is Costco?
What is reverseLogistics? Before we dive in the nuances of reverselogistics, otherwise known as return logistics, integration, let's briefly recap what reverselogistics is. Reverselogistics refers to all operations related to the reuse of products and materials.
In 2023, Blue Yonder acquired Doddle, an application for returns and reverselogistics. Returns, Mr. Tollefson pointed out, is an example of an application that must have the network at its core. It turns out data fabrics are the necessary foundation on which to build advanced agentic AI solutions.
Many people associate reverselogistics to simply cover returns, but it is much more broad than that. Beyond answering “what is reverselogistics,” it is important to understand the history of reverselogistics, the benefits of reverselogistics and why it’s a rising practice, especially in aftermarket industries.
At the heart of CTSI-Globals portfolio is its TMS, which supports essential logistics tasks such as load planning, routing, parcel management, and freight auditing. Designed to integrate seamlessly with enterprise resource planning (ERP) systems through APIs and batch processes, the TMS facilitates smooth data flow and operational efficiency.
Energy management solutions are products that energy utilities use to produce power and data centers use to consume power. By 2014, the company had purchased the Coupa solution, developed an internal modeling team, and created data extraction and cleansing routines. This is when the firm hired Mr. Botham.
This year, a recurring theme that I saw was about using supply chain data to improve the customer experience across the entire value chain. Here are the ones that stood out to me, especially as it relates to supply chain data. The single data cloud runs on Snowflake, one of Blue Yonder’s partners.
″, “disruptive technology” and the “Internet of Things (IoT)” are just a few examples that continue to appear time and again. Combine this with the fascination in industry for “big data” and you have a recipe for a specialised, cloud-based archiving language. Terms like “Industry 4.0″,
It would be tempting to think of reverselogistics as forward logistics done backwards. Reverselogistic isn’t simply a reverse gear. Reverselogistics can also have a dramatic effect on steering a company’s fortunes. This also qualifies as reverselogistics.
Logistics Applications of Blockchain Maintain Data for All Parties. Logistics applications of blockchain all derive from maintaining an incorruptible data resource. For example, initiating a recall is streamlined through blockchain by showing all movements of affected shipments. It also affects reverselogistics.
From remanufactured electronics to reverselogistics strategies that give products a second life, leading companies are proving that sustainability isnt just good for the planet its also good for business. This process is gaining momentum, with the global reverselogistics market valued at approximately $731.30
Blockchain is entering a phase of development that will affect every aspect of supply chain and logistics management, ranging from procurement to forward logistics and beyond. Blockchain allows for the continuous tracking of information and improvement through data analytics.
Today, the tech devices that entered the market in early 2016 are obsolescent, and more companies are looking for real-time data-driven decision making opportunities through the Internet of Things (IoT). As explained by Zvi Schreiber, CEO of Freightos, saving time for end users will be the cornerstone of all logistics operations in 2017.
The push toward a more efficient, data-driven supply chain will result in more competition among companies. As companies take steps to achieve lower rates, by utilizing third-party logistics providers ( 3PLs ), the competition will further increase. E-Commerce & OmniChannel Solutions Continue to Drive Competition.
A great example of this change is the way Americans shop for furniture. Let’s take another look at the treadmill example. Your provider should have a technology platform to collect and analyze real-time delivery data. And they should share that data back with the shipper so they can make improvements to their delivery processes.
For example, ShipMonk offers MonkProtect —a fully-integrated post-purchase suite with an automated claims portal where customers can easily self-report issues and they can quickly get automatically approved in most cases. In this case, the key to saving them time and effort also saves your ecommerce brand time and effort. Move Like the Wind!
At its core, the IoT serves as a way of gathering data and information about a process, but applications of the IoT can detect potential problems within a machine before the machine falters. For example, a subtle change in hydraulic pressure may still permit the machine to operate. Automated Data Transfers.
Just about every supply chain will be affected by this crisis, for example, with fuel prices surging although there is no shortage yet, there’s risk in supply and shipping routes being cancelled or diverted. With digital technologies, organisations can use data to maximise visibility into demand, inventory, capacity, supply, and finances.
Collaboration is poised to enable better flow of information and resources in both directions for both parts of the supply chain, which will inherently lead to more efficient processes and data-based decisions. So, why do supply chain managers not take advantage of this data with respect to procurement? But, the divide continues.
This neutral third party acts as the admin and point person for managing the ins and outs of your 3PL order fulfillment situation, as well as all other supply chain partners you may work with (for example manufacturers, freight forwarders, outsourced customer service teams, etc.). 5PL (Fifth-Party Logistics) Order Fulfillment.
The two other advantages that a full asset owner in the container space can leverage is the ability to combine data and containers for new and smarter services , as well as improved exception management for actually changing the trajectory of shipments when containers are underway. A Maersk ocean liner generates some 2 GB a of data per day.
That inventory data needs to be fully transparent, super accessible within the platform, and easy to digest. If you (as a business manager/owner) have to go on an in-depth hunt for inventory data, you’re using the wrong ecommerce software. Ecommerce software needs the capability of handling all aspects of reverselogistics.
For example, consider these benefits of using blockchain for bill of lading standardization and more. Decentralized data is the hallmark of the blockchain, but companies working to develop in-house blockchain platforms will face a problem. Remember the reverselogistics supply chain use of blockchain.
Ultimately, these 3rd Party Logistics Companies may have additional resources in countries around the globe with difficult import and export regulations. However, 3rd Party Logistics Companies with existing multilateral agreements with companies around the globe may also have similar qualifications. Live tech support.
Omnichannel, where a consumer, for example, might buy online, collect in store and pick up another item there, then return something by mail. Reverselogistics and the management of returns has become even more important. For example, cancellations of orders fall if long term lead time information is more detailed.
That’s just one example. By working with a logistics provider that has broad supply chain capabilities across multiple modes, including custom LTL solutions, you have built-in flexibility. Robinson’s parcel technology takes mountains of data on your parcel shipments and turns it into actionable insights. One of the ways C.H.
Cloud computing itself is a prime example. Essentially, a product is represented as a digital data file that details its shape and dimensions, however complex these may be. Advanced analytics platforms are helping 3PLs make data-driven decisions and provide valuable insights to their clients.
For example, human and electric-powered bicycles, droids, combination drones, trucks, and collaborative cargo platforms are technology-based solutions that profoundly impact last-mile shipping. ReverseLogistics. Another challenge to overcome in logistics is returns.
For example, the Cerasis Rater enables B2B sales by allowing other B2B partners to request automatically reorders, retrieve freight rates and offer e-commerce fulfillment and shipment. Unfortunately, meeting this ever-changing demand means companies must have a way of generating and analyzing real-time data reflecting what customers want now.
Simply put, there is no more effective way to ensure accurate ecommerce inventory control than to invest in IM software that can integrate with all your sales channels to provide real-time visibility, centralise inventory data, and automate stock updates. Book a free consultation.
Supply chains at a consumer goods company, for example, make up about 80% of the company’s greenhouse gas (GHG) emissions. Here are three examples of how companies adopted a circular supply chain approach and saw significant results: RUSH University Medical Center saved more than $244,000 by reusing workplan furniture.
If Supply Chain and Procurement teams are not working hand-in-hand, the orgaizations can be caught off guard by bad press, for example if a supplier is caught engaging in employing child labor or releasing pollutants into the water bodies surrounding their facilities. As an example, the new administration in the U.S.
More and more enterprises will be focusing on processes like ethical sourcing, reverselogistics, and using green materials in response to public demands. Dubbed YAFO, the modeling tool also helps users understand how forests will adapt to a changing climate, drawing on data from multiple European countries. .
Well, this example shows how wearable technology in the supply chain was being used 3 and a half years ago in 2012. Today, wearables are becoming increasingly popular, and these devices have the potential to radicalize the typical supply chain in forward and reverselogistics processes. Speed and Accuracy.
For example, utilizing a collaborative logistics platform that brings together all existing supply chain systems of record to create a single pane of glass is one opportunity to leverage a better communications channel in managed inventory strategies. This includes much more than the inventory located within a specific warehouse.
Each decision that is made needs to respect and adhere to the following principles: Drive System Automated Decisions Reduce manually entered data All work is performed in batches Find opportunities to consolidate steps together Account for value-added services Isolate exceptions. Reduce Manual Entry of Data. Automate Decisions.
For example, while there may be enough inventory in the system, ensuring right placement of the inventory at the point of sale requires inbound logistics capacity, warehouse placement, distribution capacity, and store level deliveries all coming together in a fully connected and synchronized manner. He received his Ph.D.
More partners require significant overhead and capital to maintain." - Sarang Damle, Group Product Manager, Orders & Inventory Data and Service Capability Silos "Supply chains are too often built in and operate from silos. There are silos responsible for "manufacturing" and "inbound planning" (international/customs).
It also requires the ability for logistics and supply chain managers to look at forward moving logistics as well as reverselogistics. . The use of reverselogistics provides a myriad of benefits to include: Reduced administrative, transportation and aftermarket support costs. Increased velocity.
Knowing that at least 30% of all products ordered online are returned (versus about 9% for brick-and-mortar sales ), companies need robust forward and reverselogistics processes in order to accommodate the influx of online orders. Largeau tells companies to lean on their logistics providers during this disruptive period.
Walmart may be the most famous example of a company that has succeeded primarily because of a well-developed and aligned supply chain strategy. A disciplined approach to the collection, cleansing, and standardisation of supply chain data. So if you want to be sure of business success, review your supply chain strategy.
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