FedEx has made the reverse logistics and return process much simpler and easier. It helps the company to amplify the return process and offer improved customer experience. Today, we’ll discuss FedEx reverse logistics; its definition, key elements, and benefits of doing business.
What is FedEx Reverse Logistics?
FedEx reverse logistics is transforming the return process from the cost of conducting business to gaining a competitive edge. The reverse logistical operations of the company act as a main channel for customers by focusing on gaining a competitive edge. However, it helps companies in recycling the goods, disassembling the parts and components of the returned goods, and refurbishing and repairing for resale. Such activities and processes would decrease landfill disposal, and increase the value of the returned goods.
FedEx plays a significant role in the reverse logistical process, and it employs the ReverseLogix RMS platform. The platform helps the company to perform the return process effectively for the customers and the company’s team. However, when FedEx integrates its system with the ReverseLogix RMS platforms, it helps them in the following ways;
- Decreasing manual processes
- Better communication with customers
- Business intelligence in real-time
Key Elements of FedEx RL
Some of the key elements of FedEx reverse logistics are as follows;
Happy Return or Return Bars
FedEx partnered up with Walgreen to employ the Happy Return technology and it helps the company to decrease the shipping by integrating returns into one shipment. Happy Return has the capability to organize the return products into a single brand fulfillment center by employing the RL system, and it decreases the shipment cost.
The Happy Return Service is available in more than 2,000 FedEx location points across the country. However, it allows customers to return their products without labels or packages at the FedEx offices. The Happy Return technology helps them to process, organize, and return the goods to the relevant merchants, and the streamlining of the reverse logistical process decreases the shipment cost.
Consolidated Return Service
FedEx has recently launched a consolidated return service across the US, and it helps the company offer easy e-commerce returns at low and cheap prices to customers and shoppers. It helps the company to keep employing innovative technology and offer low-price solutions for the convenience of customers. However, the consolidated return service comprises of following;
I-Eco-friendly
It decreases the carbon emission rating. Instead of packaging and labeling every single returned item, it combines all the returned items into a single package and ships it to the return center.
II-Easy for Customers
They don’t have to worry about boxing or labeling and they simply have to put it off at the approximately 2000 location points of FedEx, and they could simply return it through QR code scanning
III-Value for Merchants
Low-cost matters when you are returning a mass volume of goods, and end-to-end transparency would provide a user-friendly experience to the customers; it also helps them to gain a competitive edge in the e-commerce market
Acquired 3PL
FedEx has recently bought the 3PL (3rd party logistics) service-providing company Genco which has the special expertise and proficiency in reverse logistical processes. Genco processes approximately 600 million products annually, and it offers solutions like product liquidation, remarketing, repairing, testing, and triage.
However, the company is offering services in industries like healthcare, retail, industrial, consumer, and technology. The acquisition of 3PL company is transforming the portfolio of FedEx and expanding the supply chain management services of the company.
Benefits of FedEx RL
Some of the main benefits of FedEx reverse logistics are as follows;
Efficiency
The reverse logistical process through FedEx decreases waste and improves efficiency by organizing and rightly allocating them into their relevant category. It could be in the form of disposing, recycling, re-commerce, returning them to vendors, and returning them to stock.
Loyal Customers
If the return process is simple and convenient for customers, then it helps you to have a better comprehension of why customers are returning certain types of products. It also allows you to make informed choices about what types of changes and adjustments you should make.
High Value
Some of the options for the returned products vary from refurbishing or repairing the returned inventory and recycling to disposing of the material. All of these options would increase the value of the company.
Competitive Edge
It offers you a key insight into the return process, and you would find out the type of products that are working and the ones that aren’t. It allows you to transform your product recognize the one that is working and implement it for your business and customers.
Conclusion: FedEx Reverse Logistics
After an in-depth of FedEx reverse logistics; we have realized that FedEx is the world’s leading delivery service providing a very large network. If you are learning about the reverse logistics of FedEx, then you should keep in mind the abovementioned elements and benefits.
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