Bill Angrick- June 29, 2014
The reverse supply chain impacts the larger business landscape and provides new opportunities for growth and innovation, and recent research confirms this trend. APICS Foundation, the research arm of APICS (The Association for Operations Management), released new survey results identifying the importance of remanufacturing. Defined as the “process of restoring used or worn products to like-new condition,” remanufacturing is a service provided to better manage the reverse supply chain (Source: APICS Foundation, 2014).
APICS Foundation surveyed business leaders, supply chain, and operations management professionals in response to the growing interest in remanufacturing. Overall, the survey identified three significant findings: the majority of respondents assert that remanufacturing drives sustainability, provides vast organizational benefits, and adds career versatility. Moreover, 68 percent of respondents feel that sustainability is the primary advantage associated with remanufacturing, and 41 percent already consider it a formal component of their organization’s sustainability policies. To read the full article on the APICS Foundation findings, click here.
As the role of remanufacturing continues to become more strategic, it’s critical to raise expectations for service providers in the reverse supply chain who offer remanufacturing support. Recovery on assets will always be important. But today, sustainability and alignment of reverse supply chain operations to broader strategic goals are also necessary. To learn more about the value Liquidity Services provides as a global solutions provider to Fortune 1000 companies, middle market businesses, and government agencies, please visit our case studies library or contact us.