The Robin Report blog quotes Newmine Check out the blog, “Fewer Than Half of Returned Goods Are Resold at Full Price: Here’s Why,” for more...
Returns: The Wild West of Materials Handling
According to Modern Materials Handling, “With few rules and even fewer positive outcomes, returns processing will be a pitched battle with real financial implications in the new decade. Don’t hesitate to join the fight now.”
MMH interviewed Newmine about the lack of ownership within a retail organization with regard to returns.
And, oh yes, someone has to own returns, explains Navjit Bhasin, founder and CEO of Newmine. He says research done with the Retail Value Chain Federation shows that business areas from merchandising to supply chain and the executive team are often considered the owner of returns. And, the executive with ultimate responsibility is equally broad.
Bhasin strongly advocates that a chief returns officer be designated. Who that person is depends on the organization. But in every case, that person needs to take responsibility for returns and collaborate with many functional groups including merchandising, marketing, supply chain and finance. Good returns management is not an island.