Newmine, a solution provider focused on optimizing returns reduction, has launched Chief Returns Officer, a real-time centralized repository for sales and returns data. The solution aims to be a collaboration tool that can be used across the organization, including the marketing, merchandising, operations and customer service teams, to achieve ongoing returns reduction and help retailers recover the lost sales revenue attributed to spiking return rates.
Chief Returns Officer aggregates data from systems into one dashboard that can help internal brand stakeholders across the value chain interpret the data and take action. The solution only requires a data feed to get up and running and operates in the cloud. The AI-based technology can then immediately begin identifying returns issues, aiming to find the ones that will have the most financial impact if corrected and assigning corrective actions to the appropriate department in near-real-time.
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