Let’s talk returns, specifically product returns.
Published on November 1st, 2016
By Shannon Lupton– WTS Paradigm Product Manager
It’s said that almost 40% of all products ordered in the U.S. get returned. To add insult to injury, returned goods can cost the provider up to 50% more than the original price of the ordered goods. With these statistics in mind, we’re going to take a step back from our usual themes about sales and incremental revenue and instead we’re going to talk about reducing returns. Yes, returns can be costly for everyone.
WTS Paradigm has been diligently working on a return reduction strategy that can help our customers save money and resources. From the beginning, we have understood that having an electronic catalog goes a long way towards reducing ordering mistakes; and, of course, continually maintaining the quality of a catalog further diminishes errors that lead to returns. The benefits of moving from hand-written orders to electronic catalogs and ordering have been enormous. These benefits are the result of you knowing that the manufacturer can produce the product you configure and order. Before electronic catalogs, it was anyone’s guess.
Now, WTS Paradigm is taking further strides to reduce incorrect orders and the physical return of product. For starters, we’ve developed an array of user tools that ensure order accuracy and consistency. These tools, available to everyone, flag orders that might have errors with hover text and tips, and direct users to helpful links within CenterPoint. After product selection and configuration, the software can flag orders that seems a bit…strange. Let’s say an order has 20 bronze casement units and one white unit. Did you really mean to add that one white unit? Reviewing the order before placing it lets users correct any mistakes before the order is submitted to the manufacturer for production. And, the paperwork generated by the system is precise – it contains all of the information and details that the manufacturer needs to produce your orders.
But that’s not all! This year we’re working on our future return reduction strategy with even greater insights and ambitions. Very soon, we’ll be using the resources of our data science teams to predict the likelihood of an order being returned, even down to the user level. This form of advanced error reduction technology is going to go a long way in return reductions making WTS Paradigm’s customers more profitable every day.