If you’re like most merchants, unrestockable inventory accumulates over time taking up space in our warehouse which ultimately costs your business money in storage and handling fees once you decide what to do with it.
Luckily for you, we’ll be launching a partnership with Optoro, utilizing their technology to optimize the value of your returned inventory.
Return process through Optoro:
New inventory (our team will evaluate the condition of the product):
Unopened products will go back into inventory (i.e. return to stock)
Units that need to be reworked (e.g. apparel folding and bagging) will be handled according to your instructions and put back into inventory
Unrestockable inventory options:
Enable Optoro’s technology to sell through various marketplaces
Return inventory back to you on monthly basis
More on Optoro’s technology
ShipMonk will use Optoro's technology to smart route any items that are not eligible to be resold through your primary sales channel to the next best channel to maximize recovery and reduce aging. Optoro’s proprietary algorithm will determine how to list your unrestockable inventory to get the most recaptured revenue from marketplaces like Amazon, eBay, BULQ.com (a brand-protected B2B marketplace) and a few others.
Currently, Optoro is solely working with major brands like Target, Staples, and BestBuy. Now through a partnership with ShipMonk we are making it available to all of our customers, no matter the size.
Improved cash flow
Reduced storage costs
Improved visibility into returns
Reduced landfill waste
Maintain brand equity and protect perception
The best part is it’s all handled within the ShipMonk app, so no need to sign up for a third-party tool or complicate your logistics processes.
Return pricing will remain the same to process each return, but what we do with the inventory from there depends on the pre-selected option in your account.
Return items to inventory as is when new
This is the current process for returns
Returns items to inventory with reworking
Predefined per unit rate
Reworking is based on a $45/hr time-study where we determine the rate per unit
Ship inventory back to you monthly
Standard fees for picking and fulfillment
The monthly cadence is to ensure all items are not accumulating
Donate the inventory
We will donate the items during the return process so pick fees do not apply
List the inventory through Optoro’s technology
Up to 60% of the sale price will be returned to you
The listing fee includes the post-sale pick fees and shipping costs.
Considering January is a peak time for returns, we want to roll out this program as soon as possible.
All you need to do is:
Determine which disposition option you’d like for your unrestockable returns moving forward:
List (resell) the inventory
Return to vendor (monthly)
Let us know what you’d like to do with your existing unrestockable inventory (we can liquidate, send back to you, or donate).
Sit back, relax, and make money on your returned inventory
What will happen to my existing unrestockable inventory?
You have four options for your existing unrestockable inventory.
Donate the inventory
Perform a special project to rework the inventory
Ship the inventory back to you
What percentage of the retail value can I expect the unrestockable inventory to be sold for?
It varies from 5% - 20% of the retail value depending on the specific item, brand value, product condition and a handful of other factors.
How will ShipMonk handle returned inserts and packaging?
Returned marketing collateral and packaging will be disposed of at no additional cost nor are they counted towards the number of items returned.
What will happen to non-identifiable returns?
We will automatically send products we cannot identify (no SKU or barcode on the product) to the disposition of your choice based on the type of the product.
Can I choose different disposition options for each of my SKUs?
We currently only have the return settings on the account level, but we can absolutely change the disposition option on the SKU level if needed. Please let us know if you’d like to enable the per SKU option.
Do I have to place an order in ShipMonk each month if I choose to have my inventory returned to me?
No way! That would be a waste of your time, so an order is automatically placed for your unrestockable inventory on the first of the following month.
What happens if I do not choose an option for my unrestockable inventory?
All accounts will be required to choose one of the three options for unrestockable inventory. If you do not choose one of the options, your inventory will be returned to you on a monthly basis until you update the disposition option in your Account Settings.
Can I list excess inventory that I have in stock to BULQ.com?
This is not an option at the moment, but if you are interested in liquidating excess inventory let us know and we’ll explore other options.
Do these disposition options work with Returnly?
Of course! Your customers can still generate returns via Returnly and your disposition options will take effect once the goods are returned to our warehouse.
What’s the catch?
The only catch here is all the revenue you’ll be reeling in from your unrestockable inventory. For the full terms of service, visit shipmonk.com/optoro-terms.