By Marina Mayer
Liquidity Services partnered with Elastic Solutions to understand how retailers globally handled returns management and reverse logistics.
Key takeaways:
- Over seven in 10 respondents said that the supply chain department was responsible for their returns management—more than twice as much as any other department. Other departments also well represented included operations (36%) and planning (35%).
- About 61% of those surveyed mentioned that various departments in their organization shared the responsibility for managing returns. On average, two departments were involved in returns management, but some companies had as many as five departments taking care of returns.
- Over 60% of respondents are returning product to vendor to recover costs, 45% are refurbishing at least some portion of their returns, and 30% are liquidating in the secondary market. More than one-quarter returned to stock.
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