The value of serialization: many happy returns!

Product returns are a recognised weak point that can be exploited by counterfeiters, but there are measures that can be taken to thwart the fraudsters, writes Ron Guido.

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"Many happy returns" is a greeting which is used by some on birthdays, and by others in response to holiday greetings. An alternative explanation dating back to the early 18th Century is that "returns" here is used in the sense of "yield" or "profit" that it is still found in "investment returns."

As we look at the very expensive (time and money) projects to apply standardized unique numerical identifiers, a.k.a. “serial numbers,” to packaging components as required by legislative and/or regulatory bodies, it makes sense to seek business benefits from the interoperable use of these codes in the normal conduct of business.

One such area of opportunity which falls into the realm of low-hanging fruit is within the product returns department of many companies. As a supporting element of the commercial strategies of many companies, manufacturers’ products can be returned for credit by the consumer for a number of reasons…or simply even without explanation.

Such liberal returns policies translate into an unpredictable and variable volume of returns requests which require diligence in achieving both inventory and financial accounting.

To learn how product returns processing can be an "easy win" for companies that serialise products at the unit of sale, download the complementary white paper.