Supply chain managers fight a tough battle in trying to meet management demands to decrease costs while creating efficiencies and implementing sustainability measures. Economic growth has improved but lacks the stability to provide companies comfort to budget for implementation of many of the innovations in their long- or short-term plan. However, companies can stagnate without taking the time to identify opportunities to innovate. With pressure to sustain its competitive edge, leading organizations are beginning to consider their reverse supply chain to find hidden value.
The forward supply chain has been a popular topic in recent years, particularly within the realm of tapping technology to advance the full effort of enterprise operations. Companies have taken action to incorporate automated techniques and enhance sustainability planning in the traditional supply chain. The opportunity ripe for harvest now lies within the reverse supply chain. This broadly defines all surplus inventory and assets, whether they are goods returned to retailers, shelf overstock, or assets sitting idle or at the end of their lifecycle in warehouses. Your team may currently be managing all or some of the activities around the reverse supply chain, estimated at $150bn globally. From asset sorting to tracking and reconciliation reporting across continents, this aspect of the business can no longer be dismissed as simply a
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