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Needs for efficient reverselogistics systems continue to increase as e-commerce claims greater market share, and as so many traditionally functioning businesses grow and inevitably incur increasing volume of returns. This presents opportunities for developing new revenue streams, an exciting challenge to logistics professionals.
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.
While conventional logistics optimizes the flow of goods from producer to consumer, reverselogistics manages the processes for inverting that flow to deal with returned parts , materials and products from the consumer back to the producer. 5 Benefits of ReverseLogistics Management for Asset Recovery.
Diving deep into these swirling waters, Brian McLean, Director of Sales for North America at Locus, offered enlightening insights in a recent InFocus Webinar. Reactive Tactics: A lack of structured, data-driven strategies leads to inefficiencies in returns management. Quick reverse pickups. Enhanced customer satisfaction.
Speaker: Cathy Morrow Roberson, Research Manager for the Reverse Logistics Association
Businesses need to leverage advanced tracking systems and data analytics to identify bottlenecks and improve supply chain visibility. Register now for our webinar on recognizing and addressing hang-ups in the supply chain for a more seamless return experience!
Combine this with the fascination in industry for “big data” and you have a recipe for a specialised, cloud-based archiving language. In fact, the main reason for this post was spurred on by a Linkedin discussion we started around ReverseLogistics. Without reverselogistics, my company would not exist.
However, I encourage you to browse the entire logistics category so you may see the most recent posts as well, because typically, the earlier the post was published, the more views (but that is not always the case). What is ReverseLogistics and How Is It Different than Traditional Logistics? Read the full Post.
The blog reports on recent changes to policies, best practices in supply chain management, whitepapers detailing procurement through reverselogistics and much more. Logistics Viewpoints. Topics include blockchain, Big Data, retail accomplishments, news from major carriers and more. Inbound Logistics. TechBullion.
This is a primary focus of an upcoming FreightWaves webinar this week on Thursday, January 14th, 2020, at 2 PM EST. Panelists for the event are Sudarsan Thattai, Chief Information Office for Lineage Logistics, and Ketan Karkhanis, Turvo’s Chief Product Officer, moderated by FreightWaves’ VP of Sponsored Content, Mary Anne Hensley.
As most warehouse strategies are formed to combat issues of product shortage or provide important accounting data regarding a product, technology has been created to help reverse supply chains and drive larger recovery by serving the business needs for selling surplus. Identify waste streams and inefficiencies.
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.
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.
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.
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. Automated Data Transfers. For example, a subtle change in hydraulic pressure may still permit the machine to operate.
In a thoughtful webinar today digital freight forwarder Zencargo co-Founder, Richard Fattal, and Bis Henderson ‘s Louisa Hosegood debated the unprecedented pressures in the global supply chain this year and how they jeopardise retailer’s profitability. Reverselogistics and the management of returns has become even more important.
One that is integrated with TMS offers more value for customers and better leverage when negotiating contracts with additional features providing the latest data. Make sure that the data is reliable and as real-time as feasible. TMS can provide supportive real-time data. The Basic Functionality of a Freight Rating System.
Unfortunately, meeting this ever-changing demand means companies must have a way of generating and analyzing real-time data reflecting what customers want now. Ultimately, customers work with your B2B partners, who then request orders or freight quotes based on their data. Big data is another issue entirely.
According to Mitchell’s NY , last mile logistics is seen as the least efficient leg of shipping, and it accounts for up to 20 percent of the total shipping cost of a product. An effective last mile logistics strategy must be focused on consumer needs. Be Consumer-Centric. Manage Returns Thoroughly, Effectively.
Here are the key insights from the webinar: Top SCM Challenges The ongoing inflation crisis is hitting supply chain leaders hard, putting pressure on them to cut costs. You can learn more about how Locus supported Avian Brands in our webinar. Watch Webinar 3. Advanced Analytics: Improvement relies on quantification.
To throw light on the issue, Locus recently hosted a webinar featuring Ali Aarafat, Regional Director, SEA, Locus, and Wahyu K. Key takeaways from the Avian webinar Supply chain challenges for FMCGs : FMCGs often encounter various obstacles in their supply chain, particularly in the final mile.
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. Automated processing of claims.
Consider how an employee might react when he or she discovers he or she must also oversee data entry during the order fulfillment process. Analysis of Big Data. Will the employee feel appreciated? Will the employee grow to resent his or her employer?
And, to boot, as more and more customers, and your competitors, are turning to multiple sales channels and methods of distribution (often referred to as multi- or omni-channel logistics ), there continue to be more advancements in transportation technology solutions for e-commerce and reverselogistics.
Today, wearables are becoming increasingly popular, and these devices have the potential to radicalize the typical supply chain in forward and reverselogistics processes. Workers could not logically carry around a tablet strapped to their chest and enter data manually while still performing the critical processes of the supply chain.
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.
From the increased demand to data-driven decision-making through the industrial Internet of things (IIoT) to the use of cloud-based technologies, supply chain technology will advance light years in the coming months. Automation within Advanced Supply Chain Technologies Will Increase.
Per Bill DuBois of Kinaxis , data extraction and access continues to be kept in silos, process and function goals conflict, and teams continue to be isolated. However, the solution to these problems lies in distributing the workload evenly, including access to data sources and sharing of information. Risk Management Evolved in 2016.
Fortunately, the Internet of Things (IoT), big data, and fully integrated supply chain systems have the potential to meet these demands, and e-commerce will effectively change supply chain management forever. As a result, e-commerce will have wide-ranging impacts on supply chain management.
Reduced Errors and Need For ReverseLogistics - The ability of robots to log huge sums of data and review this data for errors with pinpoint accuracy will lead to an unparalleled reduction in errors. As a result, the need for reverselogistics processes that revolve around inaccurate order fulfillment will decrease.
To achieve these results, a quality LTL-based TMS must include the following modules: ReverseLogistics. Therefore, any LTL system must consider reverselogistics in every function. Analytics systems and automated reporting help you make data-based decisions, so LTL selection and costs decrease.
But perhaps the most far-reaching changes will center around the use of large data systems to drive sustainability in logistics and supply chains. The more transparent this data is, the more effectively managers and executives will be able to use it to keep efficiency high. IoT Tech Reduces Waste of Merchandise & Goods.
as a result, modern supply chain entities must be willing to transition to a circular supply chain, which includes the entire reverselogistics process , in order to continue to grow and become sustainable in a future without an unlimited supply of resources.
Truly, the possibilities may be endless in logistics application. Logistics Providers Will Increase Partnerships and Collaborations. While many 3PLs may not want to share data, sharing data is rapidly becoming the norm. This goes back to recent conversations about lean business processes.
The term refers not only to mobile workers and mobile devices, but also to the mobility of corporate data. Enterprise mobility management products, such as data loss prevention technologies, are available to help IT departments address these risks. What is Mobility as it Applies to Manufacturing and Other Businesses?
Manufacturers will be able to improve their inventory due to the information presented by both supply chain and operations data. To accomplish these fixes, companies will rely on customer feedback provided by product sensors and on social media and a sound reverselogistics strategy to handle returns seamlessly.
Industry data for 2004 - 2013 shows an annual loss of at least $17 billion due to vacant positions, with shocking losses of around $45 billion in both 2012 and 2013. Indicators are that the worker deficit could rise to over 2 million unfilled jobs in the next decade.
Let’s take a closer look at the problem with trying to manage over the road (OTR) modes through traditional, manual data entry and freight scheduling versus using a TMS. Reverselogistics. The Challenge: Too Many OTR Modes Make Visibility Difficult Over the road modes of transit include much more than many shippers realize.
To decode the nuances behind the industry, Aman Jha, VP of Operations, and Rajarshi Chattopadhyay, VP: Product, Growth, Data & Tech at RentoMojo, got in conversation with Mehul Kapadia, Chief Growth Officer at Locus, in the third episode of Locus’ In focus webinar series.
There are many benefits that accompany the use of transport and logistics providers and their TMS systems. Are Shippers “Jumping the Transport and Logistics Providers and TMS Ship?”. However, the 10 percent buys power in the supply chain by addressing three pain points of not using a TMS , which depend.
Unlike the lean supply chain, the agile supply chain uses real-time data and updated information, as reported by Martin Christopher in Industrial Marketing Magazine , to leverage current operations and real-time data against demand forecast, which helps to improve the overall efficiency and productivity of the given entity.
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