When it comes to technology and innovation, the reverse supply chain has generally taken a backseat to the forward supply chain. However, the reverse supply chain is an area where companies can create additional value from surplus or idle equipment through streamlining processes as well as maximizing recovery. In a recent article for CIO Review, I outlined the power of the reverse supply chain through big data and IT and steps that every company should take to improve surplus asset management. When surplus is left idle, it takes up valuable space or is added onto the plate of an already overburdened operations team. Every business has surplus it needs to dispose of and can benefit from best practices in its reverse supply chain.
Technology plays a key role in the reverse supply chain. When innovation is applied to the reverse supply chain – from warehouse management to database management – it enables the enterprise to work more efficiently and drive greater recovery values. With tools like AssetZone®, a web-based tool that allows employees across the company to dispose of and procure surplus from multiple locations, companies can more efficiently manage surplus.
As companies look to their own strategic planning process and how they can utilize IT to drive value in their business, the reverse supply chain is a clear place to generate efficiencies. Read the article in CIO Review for more information on how to power your reverse supply chain through big data and IT. To learn more about how Liquidity Services can maximize total supply chain value for your company, please contact us.