Reverse logistics is defined as the system of moving products or components for their point of consumption(customer end) to point of origin ( Manufacturing end) through channel members for the purpose of recapturing value or disposal. Reverse logistics processes and plans rely heavily on reversing the traditional forward moving supply chain. The area of reverse logistics includes return policy administration, product recall protocols, repairs processing, product repackaging, parts management, remanufacturing, recycling, product disposition management, refurbishing, maximizing liquidation values and much more. As per a Gartner report Total reverse logistics market is more than 50 billion ...view middle of the document...
It is a system called as "farm-to-fork traceability" (Charlie Sweat, CEO Earthbound) and it was that system that created the blip. This system allowed Earthbound to carry out a targeted recall of the specific contaminated products long before any official word had been issued and before anyone got sick.
Digital supply chain provide real-time traceability and identification of products across the chain. This brings visibility into every step of the product life cycle from how it is produced, where it is produced, when it was produced, where it was sold to who buys it. Every single detail thus can handle reverse logistics very efficiently
The world is moving from Collaborative planning, forecasting, and replenishment (CPFR) concept to more cohesive integrated approach which will provide organizations visibility to each and every minute activity and vice versa. On similar lines, BOSH is currently developing a software operated virtual supply chain. The environment will take the output from various RFID and other sensors located across both their factories and their 3PL providers and this will provide a complete end to end view of shipments as they move from point of manufacture to point of delivery. Now when we couple RFID with IoT (Internet of Things) then we can have web with multiple interconnected devices informing each other about every single activity, diagnosing, doing self-maintenance and generating report without any human intervention. Only digital supply can ensure such high level of visibility.
Corporate Social Responsibility initiatives
Four Decades ago the famous economist and Nobel laureate Milton Friedman referred to corporate social responsibility (CSR) programs as “hypocritical window-dressing,” and commented that business leaders inclined toward such programs “reveal a suicidal impulse.” At that time his views were echoed by most of the people around the world but today the scenario has changed. A decade ago only few of fortune 500 companies has issues their sustainability report. But now almost every one of them does that. Around 8,000 businesses across the world have signed the UN Global Compact, pledging to show good global citizenship in the areas of human rights, environmental protection & labor standards. According to CorporateRegister.com, more than 5,500 companies around the world issued sustainability reports in 2012 up from about 800 a decade ago
Consumers are increasingly tuned in to sustainability when making their buying decisions. They are more educated now. They are no longer hidden from processes about how their food is produced or how their iPads are made. And because of things like social media, like-minded people more easily find each other, have their say and effect change. We are living in the Electronic Age where information about any company’s environmental record, labor practices is readily available and readily tweeted and retweeted — companies must pay careful attention to...