Mitigating Risk from Rising Costs in the Circular Economy
The benefits of strategic partnerships in managed reverse logistics services
27th July 2022, 1pm PDT / 3pm CDT / 4pm EDT
Online
27th July 2022, 1pm PDT / 3pm CDT / 4pm EDT
Online
This session will cover circular economy and recommerce issues that many retailers and manufacturers are facing in today’s economic environment and how partnering with a managed reverse logistics service can help ease many of these issues that are impacting your bottom line. Surplus inventory has always been a challenge to retailers and manufacturers but recent trends, including supply chain delays and the surge in online returns, have left many holding unprecedented amounts of late-arrived, out-of-season, returned, and otherwise slow-moving inventory. This can negatively impact cash flow and tie up warehouse space, imposing significant opportunity costs on businesses that count on high inventory turnover to function. Unfortunately, quick sale to traditional liquidators isn’t a scalable or profitable strategy, donations may not be financially feasible, and product destruction may hurt your brand image. By partnering with online recommerce professionals, retail and manufacturers can realize the benefits of a scalable reverse logistics strategy that will provide cost and labor savings, free up warehouse space as well as significant improvements in operational efficiency. With benefits like powerful automation capabilities and network-wide analytics for data-backed decision making, outsourced recommerce solutions are critical for any modern retailer or manufacturer wanting to expand its bottom line and stay focused on its core competency.
During his time as COO of B-Stock, Mr. Shen has overseen strategy, product, engineering, business operations, and finance. He has been instrumental in B-Stock’s continued growth and
played a key role in recruiting top talent to the company. Prior to B-Stock, Shen was CFO and Head of Operations of Content Analytics, an e-commerce analytics solution for retailers and brands. And before that, he spent over five years at Yahoo!, where he was Vice President of Corporate Development with strategic and operational responsibility for the company’s acquisitions, investments and key partnerships. Shen brings over 20 years of experience in the internet and software industries, specializing in SaaS, e-commerce, and marketplaces.
He earned a bachelor’s degree in economics from the University of California, Berkeley, and an MBA
from the Marshall School of Business at USC.
TBC
a. In 2021 a record 16.6% of all merchandise sold was returned, up from 10.6% in
2020. The average rate of eCommerce returns 20.8%, up from 18%. Processing a
return can cost retailers up to 66% of an item’s original price. (NRF)
b. Inflation comes in part from a “huge number of returns that have to be sold at a
loss…detracting from the profitability that a company normally has and they have to
raise their prices” (Tony Sciarrotta, Executive Director, RLA)
a. American 3PL market gross revenues grew a whopping 50.3% in 2021 bringing the
total to 347.9 billion dollars (Armstrong & Associates)
b. The liquidation market has more than doubled since 2008 reaching a reaching a
whopping 644 billion dollars and 2020 (Colorado State University)
US returns generate 16M metric tons of carbon emissions during their complicated
reverse journey and up to 5.8B pounds of landfill waste per year (Optoro)
a. Building up inventory has been key to meeting consumer demands from supply
chains a lot of companies are building up inventory ordering more than what they
need so they have inventory and stock to counter delays in the service (Retail Dive)
days
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Executive Virtual Boardroom
All details will be sent via email after registration
27 July 2022, 1pm PDT / 3pm CDT / 4pm EDT
B-Stock is the world’s largest B2B auction marketplace, connecting sellers of surplus and returned merchandise with buyers of all sizes and from a variety of industries. Our partners range from the world’s largest manufacturers and retailers (to include 9 of the top 10 U.S. retailers) who seek best-in-class reverse logistics management to small business entrepreneurs wanting to buy merchandise from a reliable source to stock their retail establishments. We offer sellers a trusted alternative for liquidation that enhances operational efficiency, recovery rates and cycle times while providing buyers with direct access to valuable inventory for their businesses. We truly believe there is tremendous value and demand in the secondary market and continually strive to support and grow the community.
