Managing returned inventory items is critical for a variety of reasons. Was the item returned because it was damaged? Are many of the items we sell to our customers damaged? If returned items are not damaged, can they be resold? If they can be resold, are they being placed back into the inventory as available to sell? Is there a particular item or group of items that are being returned?
More and more companies are making it easier to return items, as a means to ensure customer satisfaction. It costs more to acquire and sell to a new customer than to sell to a returning customer, so keeping our customers happy is paramount to our success. So, let's review our returned items to see if we can learn anything.