Returns Management: Building a closed loop supply chain for a customer centric and circular economy

Companies that produce, sell and distribute products deal with customers that potentially might return a product during various phases of the customer journey. Dealing with these returns requires a well thought-out returns policy to manage customer expectations. It also requires a well-implemented returns management process to manage efficiency, accuracy and throughput time. The impact of an uncontrolled returns process can be large. It can impact both the relationship with the customer and the company's financial results. The opportunities from a controlled returns process are large as well. A well-managed returns process can create value in different areas.