Globalization 1% of reverse logistics which worth 10 billion

Globalization in the world has
strengthened day by day, the merging of national markets into one global market
has take place, and the rapid importance of supply chain management in present
competitive business environment is increased.

The council of logistics
management (CLM) has defined the reverse logistics management as

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“The process of planning,
implementing, and controlling the efficient, cost effective flow of raw
materials, in process inventory, finished goods from the point of consumption
to the point of origin for the purpose of recapturing value or proper
disposable”

 In simple
words it is the flow of goods from customers to retailer or manufacturers, with
proper management for the purpose of remanufacturing, redeveloping or for the
proper disposal of that product. The concept of reverse logistics in Pakistani
market is new and emerging area for majority of the businesses, as the market
is not well developed so a limited amount of information has been published on
the importance of RL. Research has shown the economy of US which is 25% of the
gross world product is consists of 1% of reverse logistics which worth 10
billion per year. This shows its importance to research on it. Because it is a
useful methodology for earning by converting the defective returns into more
useful products RL is an explorative and descriptive study, with the aim to
introduce the basic concept of Reverse logistics in Pakistani Manufacturing
industries and convince the domestic industry to accept the RL as important
business driver, the reason is researchers and authors believe that local
industries are unwilling to adopt and implement of this useful management. No
doubt, it is a step forward towards follow the environmental regulations, by
reducing the operating costs and improves the quality and uptime also, as it
helps to bring sustainable development by different aspects and focus has been
also made to present RL implementation to increase the customer satisfaction
and their loyalty along with organizational excellence.