Abstract
The concept of sustainability is an important concept in an organization and has permeated to increasing number of managerial decisions. Reverse supply chain helps the organization to achieve this sustainability by been more efficient and effective which they achieve minimizing on their cost. The study observes the status of reverse supply of hosiery products industry in the state of Tamil Nadu, India. The study focuses on the current status of the reverse supply chain and what is the acceptance level of reverse supply chain in the industry. The study was carried out in the state of Tamil Nadu, India. It is an exploratory study with a sample size of 125 from different tiers of cities. The study confirms that all the manufacturers of hosiery products in the state are engaged in reverse supply and are willing to offer replacement guarantee to the dealers and customers. Refurbished products are offer to the retailers/customers at a discounted rate. The limitation of the study is that it is limited to a few locations and with one product; hence generalization is very narrowed down.
Highlights
Strategic importance of supply chain has been heightened in this globalized business world as it gives the organization sustainability
A business in this knowledge business world faces the challenge of return policies
Organization through effective management of reverse supply can improve their process efficiencies, bring out a supply design which provides better customer satisfaction and bring down cost by refurbishing or remanufacturing which can be sold in secondary market leading to better returns from returned products
Summary
Strategic importance of supply chain has been heightened in this globalized business world as it gives the organization sustainability. Many companies have a divide between procurement and supply chain operations. These divides robs the organization of its vital efficiencies. Recognizing these gap companies have started to work hard to close it and these companies sees a sizeable benefits with an integrated and streamlined supply processes. Companies earlier had spent its vital resources in fine tuning forward supply chain. It became more important for the companies to concentrate and optimize their backward chain as the business environment became more competitive. Reverse supply chain became strategically important for the organization as they started facing challenges in disposals of the returns. The forward supply chains which the companies had were not designed to handle the intricacies of reverse supply chains
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