Honeywell and Optoro have partnered to help retailers optimize their reverse logistics processes. It is a near impossible task to think that every retailer can have a team of dedicated associates who completely understand the returns process and can dynamically and accurately make the right decision on every return in real time. Usually, a return goes straight to the clearance pile event though it could be sold for full price. Today’s retailers are wrestling with:
A fragmented market with little transparency
Multiple, unnecessary touchpoints
Poor retailer recovery
Items taking 4-6 months to go through the entire returns process
Optoro is designed to help retailers reduce financial, operational, and environmental waste from returns. Once a return arrives, an associate using a Honeywell Mobility EdgeTM device scans the product barcode and is guided through a predefined series of questions. Optoro’s software then uses proprietary algorithms to determine how to best disposition the returned item to get maximum value. As a result, merchandise can then get back into the forward supply chain more efficiently, coordinating efforts on the salesfloor and in the stock room.
Maximizes profitability on all returned inventory by optimizing and automating channel selection, optimizing Return to Vendor (RTV) outcomes, and connecting turnkey, brand-protected secondary channels.
Significantly reduces processing costs associated with returns by being able to lower warehouse and in-store processing costs, eliminate duplicate touches, and optimize inbound and outbound shipping.
Leverages data to enhance performance with better visibility to:
Improve performance from unit-level and program-level tracking and quantified sustainability reporting.
Gain better insights into return reasons from SKU-level profitability and vendor-level defect reporting.
Streamlines the store receiving process with guided workflows that allow store associates to spend less time managing returns and more time on front-of-store activities that create a better experience for shoppers. And better processing of returned goods means fewer items on markdown and less clogged-up clearance racks.
For more about what your business can accomplish with Honeywell and Optoro, contact us today.