With the new architecture, ABC limited was able to quickly integrate the new product lines efficiently into their overall distribution strategy. Some unique characteristics of the proposed model include tracking of actual manufacturing and shipping data for all returned goods, ability to discern warranty status and make disposition decisions on a real time basis, ability to track returned equipment to the original manufacturer and, complete inventory management to assure that proper customer credit is issued. Because returns are highly labor-intensive, the success of any returns program is going to be dependent upon the ability of the people working to make quick and accurate decisions. Innovation management recognized that with an improved process and a unique IT infrastructure reverse logistics can be looked in a new light – not just a reality of doing business, but a powerful tool to improve customer trust & confidence while managing the corporate bottom line.
Our experience indicates that the knowledge innovation cycle can be promoted for wider benefits (Figure 6). It is important to recognize the innovative strengths of both the University and Industry and efforts be made towards synergy. University can develop innovative ways to develop increased awareness on innovative potential for RES. The industry needs to apply innovative means to adapt the knowledge for its industrial application. Finally the University and Industry can work together towards advancements in knowledge through industrial R&D projects. The approach will help improve the RES through cost-effective knowledge innovations.
CONCLUSION AND SCOPE FOR FUTURE RESEARCH
A generic pattern has emerged that lead to this model. The purpose of this model is to help organizations desirous to pursue innovation approach to their reverse logistics, a potential for competitive advantage in the market. Our framework offer managers way of more thoughtfully managing innovations in RL relationships. The model depicts several key steps necessary for a company to take, in determining its current and future potential innovation in reverse logistics market. The knowledge gained through this model will also provide the organizations with current best practices allowing for educated decisions to be made in their reverse logistics endeavor. This innovation based approach is especially important, as the reverse logistics market is expanding and changing so rapidly that even a small period of lapsed time can make a substantial difference in the needs of the reverse logistics customer base. Thus, creating a possibility for innovating activities to offer better potential for performance enhancement in RL. Future research should be undertaken to further validate this innovation based framework and decision making model for reverse logistics. A field study, using the proposed model will provide invaluable information about scope of improvement for the company involved in product returns.