The holiday season is a time of giving and receiving; UPS alone is anticipating delivering about 750 million packages. However, if you work in retail, it is also the unenviable time of mass returns and exchanges. According to the 2017 Consumer Returns in the Retail Industry report, “Total merchandise returns account for more than $351 billion in lost sales for US retailers.”
This week, we examined this question in our webinar, "Making the Perfect Order in a Complex World" (view the recording!).
In part 1 of this post (read here), we spoke about key trends facing supply chain leaders in terms of customer focus, end-to-end supply chain visibility, rising customer requirements, operations still being a core issue and asking the right questions.
Over the past decade, supply chain leaders have increasingly been asked to reduce the cost associated with fulfilling of customer orders on-time and in-full. However, in most cases, they have been asked to do so with less funding while the quantity of orders has increased. Let’s face it; that is tough position to be in.