Sylvia Ng, CEO of ReturnBear, is leading the charge in improving the ecommerce reverse logistics process for brands, customers, and the planet. Ecommerce returns have become a major concern for many merchants, with trends like Bracket Buying and Try Before You Buy leading to high return rates that can eat into profits. Despite the prevalence of return issues, many merchants lack visibility into the extent of the problem, with only 6% of companies reporting full visibility into their supply chains.
The lack of visibility in the supply chain, particularly in reverse logistics, can be attributed to the fact that reverse logistics is often an afterthought for merchants who prioritize sales. The fragmented landscape of systems used by merchants also contributes to visibility problems, with data connections often difficult to establish. Additionally, the preference for software-as-a-service solutions over physical logistics by investors has led to a gap in solutions that address the real-world challenges of reverse logistics.
The impact of the lack of visibility in reverse logistics goes beyond just the internal operations of merchants; it also affects customers. Uncertainty about refund statuses, confusion about rejected items, and lengthy assessment processes can lead to customer dissatisfaction. To address this issue, merchants need to create a comprehensive map of their return process and consolidate data in a central system, act on data insights, simplify the process, and consider using an end-to-end solution to streamline the process.
By recognizing returns as an opportunity for growth and taking steps to create visibility in the reverse logistics process, merchants can transform their returns process into a strategic advantage. This proactive approach can help merchants avoid patching together various solutions and invest in collecting all the necessary information to improve their return process. With the support of organizations like Forbes Business Council, business owners and leaders can access resources and networking opportunities to help them navigate the challenges of ecommerce returns and improve their overall operations.
