Strategies to decrease your RTOs with WAREIQ
Return to Origin is basically a nightmare. With the Culture of returns that has emerged and continues to grow reverse logistics have become an integral part of a business plan. As much as the online shopper enjoys buying goods, they also frequently return items they have bought, while RTO logistics are important it’s always easier to decrease the returns. As far as an online business is concerned. HOW VASTLY DOES RTO AFFECT YOUR BUSINESS? RTO can be a major game-changer for your business. The sheer revenue lost by companies through return items is about 20% of the sale, and this is where your business needs WareIQ. We streamline your business by increasing efficiency through coordinating customer data, including customer retention and return policies, and thus, harness the power of reverse logistics. WHAT SETS WAREIQ APART? WareIQ’s quick TAT(Turn around time): Logistic partners provide EDD based on which customers anticipate the delivery of their shipment if the delivery fails to reach them as per the EDD there are high chances that the customer might refuse to shipment or place a fresh order from a competitor. This not only affects your ongoing order but ensures low customer retention. With WareIQ’s amazon like shipping, extensive data collation, multiple warehouses and excellent supply chain management system we are able to provide accurate Estimated delivery date (EDD) to the customer, therefore, ensuring a higher rate of First attempt delivery within EDD, thus reducing the breach of TAT. Higher and Efficient First Attempt Strike Rate (FASR): Delivery success in the first attempt not only ensures happy customers but also helps customer retention. This is an important metric since lower returns mean lower logistics costs on RTO. With WareIQ’s structured incentive plans delivery partners are encouraged to deliver maximum shipments in the first attempt thereby increasing the FASR. [Improved Non-delivery Report (NDR) conversion: This plays a powerful role in reducing RTO%. In this part attempted shipments are validated by directly communicating with customers via phone calls, SMS, email, Whatsapp, messengers, etc. Feedback of customer (whether the customer wants to order or not) is to be recorded and to be shared to shipping partner to “Reattempt” or “Make RTO”. As per the instruction given shipping partner will take action. Most of the e-commerces are doing this manually which takes time for communicating, taking feedback and having action. Which don’t help in delivery conversion much effectively. Instead, if e-commerce firms automate the complete NDR calling process through IVR calling, auto-SMS, auto-mailer, Whatsapp then it can create a huge impact in improving delivery conversion %. In auto NDR process, the customer gets IVR call immediately after a failed delivery or NDR remark updated by the delivery boy. As feedback will be captured real-time and accordingly delivery boy can be pushed for delivery. Automation makes the process very fast. This can increase delivery conversion drastically.] Wrong or incomplete address: While this may sound silly, wrong or incomplete addresses are a major reason for RTO. With WareIQ’s extensive checks and balances in place, there are various checks for address validation. We ensure to check for any communication discrepancies prior to dispatch. This increases the chances of delivery and in case of an incorrect address the shipping is cancelled prior to dispatch, this allows not only for lower RTO but also avoids wasteful shipping costs. Automated partner pin code allocations: With WareIQ’s cutting edge technology, pin code allocation is automated. This altogether eliminates the hassles of manual allocations thus lowering the cost of shipping & RTO as well as increasing serviceability & speed of delivery. making changes in allocations is very complicated and it takes time. WareIQ’s automated pin code allocation, the impact of RTO performance, TAT performance, profitability is incorporated. Our system analyses historic RTO% on pick pin code to drop pin code lane and blends Cost per shipment (forward+ RTO) for that order id on the basis of the lane and then our system checks courier with lowest possible cost and auto allocation is done. This increases the TAT, reduces the RTO further increasing profitability as well as customer retention. So not only do we offer your customers Amazon-like one-day delivers, we ensure higher profitability for your business by reducing your RTO! Ready to supercharge your deliveries? Get in touch with us now!
December 17, 2020