With returns setting back the US retail industry $351 billion each year, companies can minimize that cost by clearly explaining returns policies to consumers and defining all exceptions, such as final-sale items, writes Chargebacks911's David DeCorte. Retailers can also encourage sales by offering financial incentives for customers who accept store credit when making returns.
EBay India is no longer operating, with local owner Flipkart preparing a platform where consumers can buy and sell refurbished goods. EBay India customers will be able to file for refunds until Aug. 30, and product warranties will remain in effect.
Distributed order management systems can help manage consumer trends such as "buy online, return in store," experts say. Having the right system allows a company to step back, look at its operations and gradually add functionality, says Charles Dimov of OrderDynamics.
The cost of quality is more than part of doing business; it's an area of operations that should be continuously monitored and improved, writes Paul Critchley, president of New England Lean Consulting.
The path to operational excellence is never-ending and begins with a company culture vested in problem-solving and continuous improvement, writes AspenTech executive Robert Golightly. "By adopting lean techniques, maintenance and operations has an opportunity to change from a reactive cost center to a proactive partner in driving increased asset performance and efficiency," Golightly writes.
Artificial intelligence is a must for cybersecurity teams monitoring industrial internet of things devices, writes Christopher Morales, head of security analytics at Vectra. AI, he writes, enables teams to make the most of limited resources in detecting and responding to attacks.
Goya Foods uses a variety of lift trucks and racks to optimize operations and productivity at its distribution centers. Goya and its lift truck distributor also collaborated to develop a custom machine suited for drive-in racks, said John Quinones, director of operations in Jersey City, N.J.
The supply chain industry continues to struggle under limited capacity and the need to invest in technology to keep growing, according to a report from CSCMP. Total spending in the logistics industry has grown to nearly $1.5 trillion in 2017, with higher interest rates, tariffs and rising fuel costs expected to further increase costs.
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