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REVERSE LOGISTICS ABSTRACT 2
Reverse Logistics: Abstract
Jasmine Cannon
COLL 300
02/09/2024
Abstract
This paper explores the role of technology in reverse logistics. It also covers the challenges and benefits of adopting sustainability practices through reverse logistics. Emerging technological innovations have attracted the attention of organizational operations. Most business organizations are utilizing technology to address the challenges the companies face. This has made reverse logistics popular in business operations. The primary effects of adopting sustainable practices in reverse logistics include reducing environmental pollution, higher organizational reputation, and improved resource efficiency. The utilization of emerging technology is crucial in improving reverse logistics within enterprises. Data analytics and the Internet of Things (IoT) are two frequent new technical advancements with important roles in reverse logistics. The research examines how advanced technical elements enhance reverse logistic procedures' effectiveness and environmental friendliness. Additionally, it addresses the difficulties encountered during the execution of reverse logistics. Implementing reverse logistics has faced numerous hurdles that hinder firms from successfully executing reverse logistics operations. There is a notable deficiency in stakeholders' understanding and knowledge of the significance and optimal strategies for implementing reverse logistics in enterprises. Another notable obstacle is the high cost of implementing reverse logistics, particularly for small firms with limited resources. Most methods and systems used in designing and implementing reverse logistics are intricate, particularly within international firms. The paper also examines the myriad advantages of implementing sustainable practices for firms. Implementing reverse logistics and related sustainable practices can provide substantial benefits to organizations. The paper suggests that firms who adopt reverse logistics might benefit from both environmental and operational advantages. Sustainable techniques effectively reduce pollution and optimize resource utilization. Furthermore, it is apparent that implementing reverse logistics enhances an organization's standing and fosters its commitment to corporate responsibility. Sustainability practices substantially contribute to both the circular economy and environmental sustainability.
Key Words: Reverse Logistics, circular economy, sustainability, stakeholder engagement.