Too often OEMís/Retailers donít understand the complete cost of returns with each silo focusing solely on their P&L. Viewing the process end-to-end will provide you the facts needed to determine the best course of auction.....continue accepting returns, out source the refurbishment/re-marketing process, or provide an allowance instead of accepting returns. Attached is a info-graphic to help you understand what the industry is faced with and the size of the prize for considering the best possible solution for your business.
Richard Volz, Director of Business Development
Richardís started his career with Target as a Business Analyst dealing with apparel. Responsibilities included planning, managing, and developing growth categories. After 6 years of various responsibilities, Richard joined Best Buy as a Senior Buyer of Appliances. During his 5 years in this position, Richard oversaw the doubling of Sales volume to $1 Billion annually while increasing profitability by 25% on a mature product category.
In 2003, Richard was asked to help improve performance in Best Buyís Asset Recovery Department. In the 6 years spent working with customer returns, Richard was able to lead the area to 100% increase in recovery, increased inventory turns to +40xís/yr, implemented the refurbishment process used today, and developed/launched Best Buyís current on-line auction process.
Today, as Reconís VP of Business Development, Richard continues to use his experience in Inventory Management, Buying, and Asset Recovery to help Retailers and OEMís find ways to improve their performance of returned product while strengthening their brands.