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In: Business and Management

Submitted By Bradleyjr
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Company Profile: Genco
Jaron Bradley

Genco is a company that was initially a trucking company that carried commodities with a horse and wagon through the streets of Pittsburgh. After acquiring a gas-powered truck in 1917, the company expanded the fleet over the next few years. Eventually they decided to add warehousing and distribution services. Their services continued to expand in diversity when they made the decision to include third-party logistics services. All of Genco’s expansions eventually spurred their entrance into a major new service area that is known today as reverse logistics. They developed software and expanded its services to help companies manage and maximize the value of their returned products. Reverse logistics deals with reusing, repairing, and recycling products to satisfy organizational goals. The origins of reverse logistics began in such ways as patching clothes to make them last longer or placing kitchen scraps in a compost bin. The goal is to process goods that are moving up the reverse supply chain in a manner that creates new uses, or safe disposal, while retaining as much value as possible. Formally, it is the process of receiving returned goods or goods that have reached their useful life and attempting to recapture value or properly disposing of them. It includes the handling of product recalls, end-of-life returns, and seasonal returns and parts so that they do not simply get dumped into a landfill. After products move through the reverse logistics system, they can eventually be returned to stock, returned to the original manufacturer, sold in a secondary market, or repaired and reshipped to the original customer. Returns have become an increasingly important consideration for retailers, demanding that they either come up with a reverse logistics system or buy it from somewhere else. Today, it is essential for…...

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