Reverse Logistics
Introduction Reverse logistics is described as the function of handling returned products due to damage, expiry, end of life & recalls etc. In organizations there are a number of activities that describes Reverse Logistics management but are not recognized and controlled (Fassoula, 2007). Reverse Logistics (RL) can be considered as a way to understand the process of movement of products from downstream to the point of production for the purpose of recapturing value and proper disposal (Khan & Sabzwari, 2009).The philosophy of Reverse Logistics Management has been creating buzz for the past decade; still organizations don’t really follow a strategy to overcome difficulties in Reverse Logistics Management.
According to Stock et.al (2007), annually in US the value of returns for commercial products is $100 billion, which are returned during a period of 90 days of sale. This describes the total loss incurred by reverse logistics is high in US; this also stresses on the need of efficient handling of RL; as a measure of cost saving. Efficient handling is required in Pharmaceutical industry as there are chances of infiltrations and counterfeit products, which can lead to security and legal issues. According to Khan and Sabzwari (2009), proper management of Reverse logistics can add value for securing and preventing penetration of counterfeit pharmaceutical products in other markets. If RL is handled efficiently by a firm or by its partners it can become a revenue generation activity rather than being a cost incurring activity. According to (Kabir, 2013), Today RL is seen as a distinctive capability and potential revenue generation activity. Our research illustrates the use of collaboration and integration between Supply Chain Partners so as to save cost on Reverse logistics. The respondent for the research is supply chain managers, logistics managers. Pharmaceutical industry has been chosen for the research purpose due to matured learning graph for handling Reverse
According to Stock et.al (2007), annually in US the value of returns for commercial products is $100 billion, which are returned during a period of 90 days of sale. This describes the total loss incurred by reverse logistics is high in US; this also stresses on the need of efficient handling of RL; as a measure of cost saving. Efficient handling is required in Pharmaceutical industry as there are chances of infiltrations and counterfeit products, which can lead to security and legal issues. According to Khan and Sabzwari (2009), proper management of Reverse logistics can add value for securing and preventing penetration of counterfeit pharmaceutical products in other markets. If RL is handled efficiently by a firm or by its partners it can become a revenue generation activity rather than being a cost incurring activity. According to (Kabir, 2013), Today RL is seen as a distinctive capability and potential revenue generation activity. Our research illustrates the use of collaboration and integration between Supply Chain Partners so as to save cost on Reverse logistics. The respondent for the research is supply chain managers, logistics managers. Pharmaceutical industry has been chosen for the research purpose due to matured learning graph for handling Reverse