A mature returns management program is an investment and is key when maximizing asset recovery values. Is the rise in customer returns negatively impacting your bottom line? PTS Corp specializes in reverse logistics, and our years of experience have allowed us to develop a team of experts along with the supporting processes and tools that help customers navigate the modern returns-ecosystem.
Rising Consumer Returns
Customer demands have increased returns at an impressive and challenging rate. In fact, a recent survey by the National Retail Federation and Appriss Retail showed that average return rates at the end of 2022 have remained at 16.5%, compared to 16.6% in 2021, when Covid 19 safety measures were still front and center and online shopping was at an all time high. As consumer returns rates continue to rise, managing returns can no longer be a part time effort. High-tech manufacturers without a well-developed reverse logistics process could be losing more than 50% of returned inventory value, according to a recent UPS Report.
PTS Corp’s Modern Returns Methodology
So, what is the solution to managing these rising return rates and maximizing asset values? Working with a 3PL provider that specializes in reverse logistics and can implement a modern returns methodology can help you recover your asset values. PTS Corp can do just that. Our people, processes and tools help our clients gain visibility into their assets. Not only can we create predictable and forecast-driven outcomes, but our value-based routing allows for timely decisions that add value and reduce activity that doesn’t lead to ROI. Even in the case of a less frequent, but likely event, our controlled methods and practices provide optimal recovery. Our reporting and analytics provide visibility and insight and ensure we are increasing velocity and throughput while keeping turnaround times within goal. Once inspected, impaired devices and assets can be routed for additional value recovery through our wide range of aftermarket service offerings, including repair, refurbishment, and parts reclamation.
Adding a technology-based infrastructure to your returns management program is a must to maximize asset recovery values. If you’d like to learn more about what a modern returns program looks like, you can read more about this PTS service offering here. Contact us to start a conversation about how PTS Corp can assist with your returns management efforts.