Returns affect not only the retailers but also goods manufacturers. It’s important to implement a method that focuses on the seamless management of returns, decreases costs, supports customer experience, and improves brand perception.
Streamlined RTV Agreements
Returned products can have a significant operational and financial impact, so creating a streamlined process for managing both retail and manufacturer returns is crucial. In every retailer-vendor relationship, Return-to-Vendor (RTV) agreements play a key role in how both parties will handle returned inventory and settle disputes.
Parties can decide whether the returns should be processed through stores or sent directly to the manufacturer. Stores can also use an RTV software to identify unused inventory and send them directly to vendors immediately. Ultimately, an effective agreement reduces touches on returns in both handling and transit so that employees can have more time for customers and stock products.
Optimized Multichannel Retail Experience
Returns can be redirected and turned into customer and margin growth opportunities. One way is to apply a multichannel approach to your e-commerce and secondary markets through the help of the right reverse supply chain partner. Employees will be able to put more effort into sales and support for customers. With this, you can deliver value to your clients as well as increase their online shopping experience.>
Break away from traditional practices that can drag return processes to no end. With new technologies and strategies, you’ll be able to transform the supply chain and seize opportunities for revenue growth.