Accelerating returns: innovative technology and expertise to maximise net recovery
With the growth of online shopping over the past year, it’s never been more important for retail, e-commerce and third-partly logistics companies (3PLs) to solve the reverse logistics puzzle. G2 Reverse Logistics has arrived with a technology-driven solution that unlocks revenue and value for customers.
“We started G2 to reinvent reverse logistics,” said Herb Shear, Executive Chairman and Cofounder, G2 Reverse Logistics. “We saw a need in the marketplace to build on what we had accomplished in our past and do so with modern tools, technology and innovation. We’re not a typical start-up. We’re more of a shake-up for the industry and a wake-up for businesses looking to maximise net recovery.”
The G2 platform is built on a rules-based software engine that leverages data, artificial intelligence (AI) and machine learning to provide valuable insights into returns management with an unbiased approach that maximises efficiency and revenue. The innovative online portal also offers customers visibility into their entire product returns life-cycle.
“Nobody is looking at the entire reverse logistics puzzle the way we are at G2,” suggested Tom Perry, CEO and Co-founder, G2 Reverse Logistics. “From the customer experience at the initiation of the return, to the processing and recovery process, G2 has considered every aspect of the reverse logistics puzzle to provide customers with the highest net recovery. We’ve developed a software solution that operates like a neutral ‘control tower’ by collecting and analysing data to determine the best outcome for our customers. We also provide a completely outsourced solution that is adaptable to each customers’ unique needs.”
Returns have become a critical component of the retail customer experience. More than ever, shoppers are expecting an omni-channel retail experience, and reverse logistics plays a significant part in the overall customer experience. The rise in online shopping saw customer returns climb by 70% in 2020, ultimately driving up costs for retailers.
“Customer service, technology and innovation is at the core of everything we do,” said Perry. “Managing returns effectively is just as important for customer experience and bottom-line growth as the more traditionally emphasised elements of the supply chain.”
“Reverse logistics is a complex process and for many retailers and businesses new to e-commerce, it is often an afterthought,” commented Perry. “G2 can help improve profitability, brand credibility, and sustainability efforts with ROI coming from lower costs, higher revenues, and enhanced brand reputation.”