Reverse Logistics Market Top Key Players - XPO Logistics, Geodis, FedEx, UPS, NFI Industries

Reverse logistics Market is a supply chain activity that moves goods upstream of the consumer and customer supply chains, and the goals of reverse logistics include product maintenance, reuse, ripper Mitsubishi and recycling.

Reverse logistics helps businesses efficiently cut costs, improve asset utilization and reduce waste reaching landfills. It plays an important role in realizing the circular economy. This will help maximize material recovery and ultimately reduce material going to landfill.

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MARKET DYNAMICS

Some key drivers in reverse logistics market are:

• Increased pressure to reduce consumer goods ending in landfills and reduce efficient use of materials to reduce soil pollution. This is driven primarily by the country's growing limits for waste disposal.

• Some are raising raw material prices that are difficult to extract. Metals such as cobalt and lithium are perfect examples due to the high cost of complex extraction processes.

• Increased pressure to improve customer satisfaction e-commerce is one big player that helps drive this and customer returns to provide the best customer service compared to retailers is a key differentiator.

• Increasing pressure to reduce manufacturing costs and realize competitive pricing. A good example of this relates to the electronics industry, the number is growing, and efficient reverse logistics is playing an important role.

OBJECTIVES OF DIFFERENT INDUSTRIES FOR REVERSE LOGISTICS

• Textile and Garments Industry: Clothing recycling is a big trend to catch up with wool, and logistics players have great potential to take over the industry. The design of effective collection methods plays an important role for logistics players. Companies such as H & M use retail stores as collection centers, but are limited to their own clothes.

• Electronics Industry: Some of the key metals used in the manufacture of electronic components, such as lithium, cobalt, and gold, are likely to be reused. Due to the short product lifecycle of the industry, there is a large potential base in this industry. As each vendor now has its own collection channel, one of the key challenges for logistics players is building a scalable model.

• E-commerce: The return of plays an important role in the e-commerce arena. This helps to build a trusting relationship with our customers. The e-commerce logistics players have captured it efficiently and integrated the logistics into the future. For most e-commerce players, building a reverse logistics network plays an important role.

E-COMMERCE: LEADING THE REVERSE LOGISTICS CHANGE

• A major challenge for the fashion apparel industry in e-commerce is that reverse logistics involves a decline in product value and time sensitivity. More inventory may be depreciated as the overall return rate increases by 10% each year. Clothing loses 20% to 50% of its value between 8 and 16 weeks, creating an emergency where inventory must be recirculated and prepared for resale.

• Most companies tend to outsource return management to a third party logistics (3PL) provider to make room for forward logistics. This offers a great opportunity for 3PL, which specializes in reverse loops, including XPO Logistics, Ryder and NFI.

• Social media impulse buying is another factor driving returns, as many businesses are extending their return policies from 28 days to 45 days to attract more customers.

COMPANY PROFILES
• XPO Logistics
• Geodis
• FedEx
• UPS
• NFI Industries

Read More Information: https://mobilityforesights.com/product/reverse-logistics-market/

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