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It is not necessary that all the products your company manufacturers adhere to similar quality levels. There are always some products which have a defect or are not as per your internal quality guidelines. Most often, such defective products get caught and are removed from the assembly line. But in certain cases, some bad products get through and are bought by unsuspecting consumers. In such cases, most customers either return the product or get it replaced. As per a study, 8 to 9% of goods purchased at physical stores are returned. The percentage of returns at an e-commerce store stands at 25% or more.
This is where Return Merchandise Authorization (RMA) comes in to the picture. In order to ensure that the product the customer wants to return is collected safely and returned back to you, a good RMA process can help streamlining all the steps involved.
Return Merchandise Authorization (RMA) processes allow companies to track and monitor any returns or exchanges that are being performed by buyers for their products. This process is designed from the ground up to make the entire experience of exchanging or returning a product extremely hassle-free for the consumer, cost-effective for the party which sold the product, and rapid for the whole financial system.
However, you must know that not all RMA processes or procedures are the same. Besides, you have to thoroughly understand the advantages of RMA to make use of it to streamline your business processes. If you do not have a sound RMA process in place, then your customers may suffer from unreasonably lengthy return procedures, leading to high customer dissatisfaction numbers.
Having an RMA process in place, without it being utilized, is of no use. You must know how to use it to streamline your business operations. Some of the steps involved which can help you do so include -
If the product cannot be repaired, then it is thrown away or disposed in a safe manner. If it is not damaged, it is returned to the warehouse, where it is repackaged and made available for sale again. Similarly, whether the customer should get money back, a replaced product or credit on future purchase, will be determined based on a clear understanding of the reason for returning the product.
While RMA warrants a smooth product return process, one must remember that it cannot be completed without certain key devices, such as -
There are many benefits of maintaining a robust RMA process, some of which are -
While it is important to focus on sales and increase the wallet share of your customers, it is also important to manage the inventory of products that are returned by customers for various reasons. If this is not managed efficiently, then customers may not purchase your products again. You need a reliable team to work on returns or return merchandise authorization (RMA).
We can help you with proven RMA methodologies if you outsource your RMA service requirements to us. Our Finance and Accounting services are ideal for customers looking to save costs while receiving top notch services.
Contact us to outsource RMA or return merchandize authorization services because we follow the best practice to create flawless RMA processes.
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